Forex Market

President of the Federal Reserve Bank of Dallas, Robert Kaplan, has called for increased use of face masks across the United States to combat the spread of the coronavirus disease (COVID-19). “While monetary and fiscal policy have a key role to play, the primary economic policy from here is broad …

Moody’s Investors Services expects the British economy to contract by 10.1% in 2020, despite the UK government’s recently announced GBP 30 billion stimulus package. In addition, the rating agency forecasts the public debt-to-GDP ratio to increase by 24% or more. Moody’s also foresees a gradual recovery with an expected growth …

The US Federal Reserve has added $1.33 billion worth of bonds from individual companies on June 22-30, Reuters reported. The bond purchases included big company names, such as Apple, Walt Disney, and Ford Motor. The Fed has already bought $428 million worth of bonds bought as part of a large …

The US Dollar (USD) recovered from its lowest level in four weeks and rose against most global currencies. The Dollar Index (DXY), which measures the performance of the US currency against a basket of six major currencies, is up by 0.39% for the day at 96.81. This comes after the …

The European Union (EU) is set to grant temporary access to the London Stock Exchange (LSE) and other derivatives clearing houses in the United Kingdom starting January 2021. The European Commission plans to adopt a time-limited equivalence decision for the UK for central clearing counterparties of derivatives, without clarifying the …

The Canadian Dollar (CAD) could not take advantage of positive economic data on Thursday and fell against major currencies, amid a decline in oil prices and as many investors are seemingly leaning towards safe havens. The CAD is down by 0.50% against the British Pound (GBP), with the GBP/CAD pair …

Wholesale inventories in the United States declined during the month of May by 1.2%, meeting market estimates. This comes after inventories increased by 0.2% in April, according to data by the US Department of Commerce. Wholesalers’ sales increased by 5.4% in May, after falling by 16.4% in April, Reuters reported. …

EUR/GBP maintained its performance in the mid-European session and last seen hovering around its lowest level in three weeks, just above the mid-0.8900s. The pair came under fresh selling pressure on Thursday and expanded its recent retreat from three-month highs set on June 29. Positive sentiment around sterling was the …

President of the Saint Louis Federal Reserve Bank, James Bullard, expects unemployment in the United States to fall below 8% or 7% by the end of 2020, from a current 11%. Bullard also said in a CNBC intaerview on Wednesday that he is optimistic about the economic recovery.

It could take the US economy longer than previously expected to recover from the COVID-19 crisis, said the President of the Boston Federal Reserve Bank, Eric Rosengren, according to Reuters. In addition, Rosengren believes that demand for the Federal Reserve’s Main Street lending program would grow over time. “There are …