Forex Market

Seasonally adjusted Canadian Ivey Purchasing Managers’ Index (PMI) rose to 58.2 in June from 39.1 in May, versus a consensus expectation of 25.1. The index give a signal of economic recovery, after passing the 50-point mark for the first time since February, with economic activity slowing down during the past …

Moody’s Investors Service expects the Canadian economy to contract by 7% in 2020 due to the COVID-19 pandemic, Reuters reported. Canadian provinces are expected to stabilize their rising debt burdens once economic growth resumes, according to Moody’s, however, the rating agency sees all 10 provinces posting deficits in the fiscal …

FX option expiries for July 7 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1265 909m1.1275 590m1.1335 521m1.1345 1.2bn1.1450 521m – GBP/USD: GBP amounts         1.2650 250m – USD/JPY: USD amounts          107.00 401m  – AUD/USD: AUD amounts 0.6915 633m  – NZD/USD: NZD amounts 0.6520 676m 

The Central Bank of France is expecting the French economy to recover during the third quarter (Q3) of 2020. The second-biggest economy in the Eurozone could grow by an unprecedented 14% in Q3 of 2020, if business activity remains at the current levels, Reuters reported, citing forecasts by the central …

The US Department of Treasury and the Small Business Administration (SBA) announced that government support to businesses helped save 51.1 million jobs or 84% of the small business workforce. A total of $521.4 billion of financing to employers have already been approved, as part of a $660 billion COVID-19 pandemic …

Gold prices rose on Monday, nearing its highest level in about a week, despite an increased risk appetite among investors. However, the rise in the yellow metal prices is mainly attributed to the Dollar’s decline. Gold futures for August delivery rose by $3.50, or 0.23%, to settle at $1,793.5 per …

The overall Business Outlook Survey indicator fell sharply, with most constituent indicators declining to levels well below their historical averages, according to the Bank of Canada (BoC) Business Outlook Survey for the summer of 2020. Businesses in Canada expect weakness in domestic and foreign demand due to the effects of …

The Main Street Lending Program is now operational and ready to purchase eligible loans, said the Federal Reserve Bank of Boston on Monday. The Fed branch in Massachusetts encouraged lenders to start submitting qualifying loans, Reuters reported. Members of the US Federal Reserve Board have agreed to use all of …

The US non-manufacturing services sector activity showed a strong recovery during June, nearing a return to its levels before the COVID-19 pandemic. The ISM Non-Manufacturing Purchasing Managers’ Index (PMI) for June increased to 57.1, compared to its reading in May at 45.4, and an expected reading of 50.1. This is …

Seasonally adjusted IHS Markit US Services Business Activity Index registered 47.9 at the end of the second quarter (Q2) of 2020. This comes after the index recorded a reading of 37.5 in May, thus, showing a softer rate of contraction in business activity across the US. The IHS Markit Composite …