Market Update

The Prime Minister of Spain, Pedro Sanchez, is set to meet with German Chancellor Angela Merkel to discuss the European Union (EU) recovery fund. “Spain’s future is at stake in the coming days,” said the Spanish government spokeswoman Maria Jesus Montero, Reuters reported. German Chancellor Angela Merkel recently said that …

Businesses in the US are growing nervous over the recent surge in the number of COVID-19 cases, according to the President of the Atlanta Federal Reserve, Raphael Bostic. “We are hearing it more and more as we get more data. People are getting nervous again. Business leaders are getting worried. …

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 …

The US dollar index, DXY, which measures the strength of the greenback versus a basket of currencies, lost the upward trend and slid back to 97.00 levels after Wall Street’s opening bell. The US dollar index maintained gains in the 96.80 region, which is the positive zone, advanced for the …

German Minister of Economy Peter Altmaier said during press statements that he expects that his country’s economy is recovering from the repercussions of Covid-19 in October. Altmaier added that the economy will shrink by 6% in 2020 and then return to growth by more than 5% in the following year. …

West Texas Intermediate crude oil (WTI) futures bounced but facing a difficult time extending this bounce above 40 as risk aversion trades continue in the European session. Traders are waiting for any clues for sentiment with Coronavirus update in US as well as crude oil inventory data from the American …

Gold prices fell during trading on Tuesday, with the rise of the US dollar and amid anticipation of economic data. The prices of the yellow metal are currently trading at levels of $ 1776.98 an ounce, down by 0.43%, while the metal futures, August delivery, fell to $ 1787 an …

The Eurozone agreed on Tuesday new debt relief measures for Greece worth about 750 million euros ($840 million) as part of the country’s post-bailout program. According to Reuters. The money comes from profits made by eurozone central banks on Greek government bonds and the reduction to zero of the step-up …

The British Retail Association reported Tuesday that the number of shoppers in retail stores decreased by nearly 50% this week compared to last year, and the amount of money spent in restaurants and bars decreased after the reopened. These data come a day before Finance Minister Rishi Sunak is due …