Market Update

Germany aims at avoiding its public debt going above EUR 100 billion next year, despite increased spending to face the impacts of the COVID-19 crisis, Reuters reported The German Minister of Finance, Olaf Scholz, reportedly plans the 2021 public budget with EUR 80 billion in new debts, however, the German …

Stablecoins and cryptocurrencies must be well regulated by market authorities, according to remarks by the Bank of England (BoE) Governor, Andrew Bailey, on Thursday. The comments, picked up by Reuters, showed a call for regulators to keep up with market developments in the digital payment domain. “If stablecoins are to …

Canada’s International Merchandise Trade Deficit widened to $2.5 billion in July from $1.6 billion in June, the data published by Statistics Canada revealed on Thursday. This reading came in largely in line with the market expectation. “Imports increased 12.7% in July, while exports rose 11.1%. The largest contributor to this growth for …

Unit Labor Costs in the nonfarm business sector rose by 9% on a yearly basis in the second quarter, the data published by the US Bureau of Labor Statistics showed on Thursday. This reading followed a 12.2% increase in the first quarter and fell short of the market expectation of …

There were 881,000 Initial Claims for unemployment benefits in the US during the week ending August 29th, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed last week’s print of 1,011,000 (revised from 1,006,000) and came in slightly better than the market expectation …

Britain will hold a new round of talks with the United States on a trade deal next week, Greg Hands, junior trade minister Greg Hands said on Thursday, adding that the government is in talks with the two major American parties ahead of the upcoming presidential elections. Britain gives priority …

Service activity in the Eurozone posted some decline in August, but remains within the expansion zone. Eurozone service activity barely expanded in August. The IHS Markit eurozone services PMI registered 50.5 in August versus 54.7 in July, slightly above the flash reading of 50.1 and over the 50 mark indicating …

France intends to spend 100 billion euros, equivalent to 118 billion dollars, to extricate its economy from a severe downturn caused by the Corona pandemic, indicating the renewed efforts made by President Emmanuel Macron to push a supportive reform schedule for companies. An official said ahead of the official launch, …

The service activity index in the French economy extended growth in August less than expected, as data released by Markit on Thursday showed that the French services PMI came at 51.5 in August, compared to 57.3 in July. Analysts had expected 51.9 The Euro is trading at 1.1823, down about …

A survey showed that the recovery of the Eurozone economy from its biggest downturn on record faltered in August as growth in the services sector dominating the bloc almost completely halted, suggesting that the long road to recovery is bumpy. Last quarter, the bloc’s economy shrank 12.1%, as the imposition …