Economic Report

The first US presidential debate was held on Tuesday night in Cleveland, Ohio, between the incumbent Republican President Donald Trump, and Former Vice President and the Democratic nominee Joe Biden, with a limited number of attendees in accordance with social distancing rules and preventive measures against COVID-19. At the beginning …

Oil prices fell on Tuesday, September 29, erasing gains from the previous session, while chronic demand concerns due to the Corona pandemic outweighed hopes generated by a new US stimulus package that lawmakers find difficult to agree on. US West Texas Intermediate crude futures fell 34 cents, equivalent to 0.8%, …

Markets await the presidential debate in the United States between Trump and Biden, scheduled for Tuesday, September 29. The debate will occur on Tuesday night and Wednesday morning for European time, meaning we may not feel the market affected until later on Wednesday. FT’s polls indicate Biden is on track …

The economic recovery in the euro area remains incomplete, uncertain and uneven, Christine Lagarde, President of the European Central Bank (ECB), reiterated while delivering her prepared remarks at the EU Committee on Economic and Monetary Affairs. “In the current environment of elevated uncertainty, the Governing Council will carefully assess all …

Recent remarks by the President of the European Central Bank (ECB), Christine Lagarde, suggested that the appreciation of the Euro (EUR) is putting downward pressure on prices, or in other words not helping achieving the central bank’s inflation targets. Speaking to the Franco-German Parliamentary Assembly on Monday, Lagarde said that …

Britain’s public borrowing increased again in August, reaching a new record high, driven by massive spending to combat the Coronavirus pandemic, with the budget deficit since the start of the current tax year surpassing its full-year peak during the global financial crisis. The government has now borrowed 173.7 billion pounds …

The dollar settled below its recent two-month high, and riskier currencies erased some of their weekly losses, while stock markets received a boost from hopes of resuming talks on fiscal stimulus in the United States. The dollar is moving towards achieving its best weekly performance since early April, driven by …

Gold prices rose, as the dollar fell and hopes for more stimulus measures in the United States re-emerged, but the yellow metal is on the path to post its biggest weekly decline since August. Spot gold rose 0.3% to $ 1873.83 an ounce. But prices are down about 4% a …

Oil prices have retreated, and are heading towards a weekly decline due to growing concerns that fuel demand will be affected by a new large-scale rise in cases of coronavirus, as well as some concern about a possible return of exports from Libya. Brent crude fell four cents to $ …

Ireland’s Minister of Foreign Affairs and Trade, Simon Coveney, recently said that the United Kingdom (UK) is making negotiations for a new trade deal with the European Union (EU) more difficult by pushing for legislation that undermines international law. “There is a growing sense that perhaps the United Kingdom does …