Forex Market

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 …

The Spanish government signed an agreement with business leaders and unions on Friday to reactivate the economy and create job opportunities, local paper El Pais reported. The agreement includes a support plan of EUR 40 billion for business loans aimed at funding the digital transformation of Spanish companies and businesses. …

Monetary policy should not be the main line of defense for Europe against the economic impact of the coronavirus disease (COVID-19) pandemic, said Klaas Knot, the Governor of the Dutch Central Bank. Knot, who is a member of the European Central Bank (ECB) Governing Council, said that a strong fiscal …

Jean Castex will lead a new French government, after being named by President Emmanuel Macron as prime minister. Macron, who was elected in 2017, promised a cabinet reshuffle in recent days to focus on recovery from the negative economic impacts of the COVID-19 pandemic. The new Prime Minister of France, …

The New Zealand Dollar (NZD) is showing a strong performance against major currencies, supported by improved risk appetite. Positive indicators from European PMI reports showed that June saw the best economic activity since the beginning of the COVID-19 pandemic. Gains by Asian stock markets also helped push the risk appetite …