The President of the European Central Bank (ECB), Christine Lagarde, said on Thursday that the decision to extend the ECB stimulus program comes as the Eurozone is expected to achieve herd immunity from the Coronavirus, helping the economy operate normally, by the end of 2021, the Guardian reported. “We have …
Read More »AUD/USD Rises to Highest Level in Two and Half Years
The Australian Dollar (AUD) rose on Thursday against its US counterpart (USD) to reach its highest level since June of 2018. The AUD/USD pair is trading higher for the day by around 1.1% at 0.7528. The pair has been moving throughout the day in a range between 0.7427 and 0.7533, …
Read More »Mnuchin to Recommend Selling $700m Loan to Successor
The United States Treasury Secretary, Steven Mnuchin, said on Thursday that he will recommend to the next administration to consider selling the $700 million emergency government loan to YRC Worldwide at a profit. “We’ve been fortunate that the economy recovered, and that the equity is doing well and I am …
Read More »BoE Eases COVID-19 Restrictions
The Bank of England (BoE) has decided to ease some of the restrictions that it imposed on the banking sector to help face the economic consequences of the Coronavirus (COVID-19) pandemic. After suspending dividends, bonuses, and share buy-backs until the end of 2020, the BoE has told Britain’s largest banks …
Read More »WTI Hits Fresh Eight-Month High
The West Texas Intermediate (WTI) crude futures rose during Thursday’s trade to their highest level in about eight months, since early March. WTI is up by 3.84% or $1.75, trading at $47.27 a barrel. A recent agreement between members of the OPEC+ alliance to raise output by much less than …
Read More »European Stocks Close Lower Following ECB Meeting
European stocks closed lower on Thursday, following the European Central Bank’s (ECB) decision to expand its stimulus program and amid uncertainty surrounding post-Brexit trade talks between the European Union (EU) and the United Kingdom (UK). The STOXX Europe 600 index finished lower by 0.4%, despite a positive performance by oil …
Read More »US Annual Core CPI Stays Unchanged in November
Inflation in the US, as measured by the Consumer Price Index (CPI), was 0.2% in November, the report published by the US Bureau of Labor Statistics showed on Thursday. On a yearly basis, the CPI stayed unchanged at 1.2%. Further details of the publication showed that the Core CPI, which …
Read More »Unemployment Dropping in Turkey to The Lowest Level Since 2018
According to data, unemployment in Turkey decreased to 12.7% in the third-quarter ending in September, as the economic movement accelerated between the first and second waves of the Coronavirus. The unemployment rate is the lowest since the end of 2018, when the currency crisis pushed the economy into recession. Unemployment …
Read More »Fitch Raises Its 2021 China Growth Forecast to 8% From 7.7%
Credit rating agency Fitch raised its forecast this week for Chinese economic growth next year, based on increased domestic demand and expectations of a coronavirus vaccine deployment. Fitch now expects China’s GDP to expand 8% in 2021, up from the 7.7% forecast in September. “This would be much higher than …
Read More »Breaking: ECB Leaves Rates Unchanged, Expands PEPP by €500 Billion to End-March 2022
The European Central Bank (ECB) decided to leave the interest rates on the main refinancing operations, the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.50%, respectively, as expected. The ECB further announced that it decided to increase the envelope under the Pandemic Emergency Purchase Programme …
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