Market Update

President of the Federal Reserve Bank of Minneapolis, Neel Kashkari, said on Friday the monetary policymakers need to take better measurements to ensure the economy restore its pre-crisis levels. “I would have preferred the Committee make a stronger commitment to not raising rates until we were certain to have achieved …

The President of the Federal Reserve Bank of Atlanta, Raphael Bostic, said on Friday that he will accept inflation going above 2% to 2.3% but remaining stable. “By contrast, if we were at 2.2% and the next quarter at 2.4% and then at 2.6% that trajectory would give me concern.”

The number of Ethereum transactions on blockchain recorded its all-time daily high on Thursday, Coin Telegraph reported. Daily transactions reached 1.406 million yesterday, as shown by data from Etherscan.

The US current account deficit rose to the highest level in nearly 12 months in Q2, as the Covid-19 pandemic put pressure on exports of goods and services. The US Commerce Department said the current account deficit, which measures the flow of goods, services and investments into and out of …

Retail Sales in Canada increased by 0.6% in July to $52.9 billion, the data published by Statistics Canada showed on Friday. This reading followed June’s increase of 0.7% and fell short of the market expectation of 1%. “Core retail sales, which exclude these two subsectors, declined 1.2% on lower sales …

The Russian Central Bank kept the key nterest rate at 4.25%, suspending its monetary easing cycle in light of the growing risks of imposing new sanctions on Moscow, but hinted that cutting interest rates is still possible later this year. The decision to keep interest rates at a record low …

Gold prices rose and on track to achieve gains for the second week in a row thanks to the weak dollar as weak jobs data in the United States negatively affected hopes for the economic recovery. Gold rose in spot trading 0.6% to 1953.70 dollars an ounce with the opening …

The Turkish lira fell to a fresh low against the dollar, as investors focused on the possible steps of the central bank to tighten monetary policy ahead of a policy meeting next Thursday. Lira touched a low of 7.5660, retreating from Thursday’s close of 7.5595. The Lira has fallen more …

Data from the European Central Bank showed that the revised current account surplus of the 19 Eurozone countries shrank to 16.6 billion Euros in July from 20.7 billion Euros in June, as a decline in the primary income account eroded the impact of an increase in the trade surplus. In …

The dollar held on to narrow trading ranges. Still, it was heading towards a weekly loss against the major counterpart currencies, after negative data cast doubt on the economic outlook, while positive comments from the Minister of Finance in New Zealand helped support the country’s currency. The dollar gave up …