Market Update

The British Pound (GBP) rose on Tuesday on the back of the US Dollar (USD) decline, despite a decline in the UK’s retail sales. The Sterling is up against the USD by 0.47% with the GBP/USD trading at 1.3124. Retailers in the UK have cut jobs at the highest rate …

New homes sales in the United States increased by 13.9% in July to a seasonally adjusted annual rate of 901,000 units, according to data by the U.S. Census Bureau. This is the highest level for new home sales in around 13.5 years, since December 2006, with the housing market showing …

Manufacturing activity continued to strengthen in August, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite index rose from 10 in July to 18 in August, with survey results suggesting that many Fifth District manufacturers saw increases in employment, wages, and the average workweek …

The Consumer Confidence Index in the United States decreased for the second consecutive month in August to 84.8 down from its July reading of 91.7, according to data by the Conference Board. Moreover, the Present Situation Index decreased sharply from 95.9 last month to 84.2. Meanwhile, the Expectations Index declined from …

The Housing Price Index (HPI) in the US rose 0.9% in June, the Federal Housing Finance Agency’s (FHFA) monthly report showed on Wednesday. This reading followed May’s print of -0.2% (revised from -0.3% and came in higher than the market expectation of 0.1%. Meanwhile, the S&P/Case-Shiller’s 20-metro area Home Price …

The headline Diffusion Index of the Federal Reserve Bank of Philadelphia’s Nonmanufacturing Business Outlook Survey dropped to 17.9 in August from 23.7 in July, the monthly data showed on Tuesday.

The Confederation of British Industries said that British retailers have cut the most jobs since the financial crisis and that it expects job losses to accelerate, adding to warning signs of an expected sharp rise in unemployment. Tuesday’s data also showed an unexpected drop in sales this month, which contrasts …

A survey showed that German business confidence improved better than expected in August, boosting hopes that companies in the largest European economy are recovering from the coronavirus shock. The IFO said its business climate index rose to 92.6 from a revised level of 90.4 in July. This is the fourth …

Renewed optimism about a US-Chinese trade agreement and a less-than-expected decline in economic production in Germany led to the rise of European stocks on Tuesday, and stocks in Frankfurt recorded their highest level in a month. The European Stoxx600 index rose 0.8% by 07:11 GMT, extending gains on the back …

The German Foreign Ministry said that Berlin issued a travel advisory against the Paris regions and the French Riviera due to the high cases of Coronavirus there. The ministry added that it had warned against unnecessary tourist trips to the Ile-de-France region, which includes the French capital, and the southern …