Market Update

Germany’s central bank said on Monday that the German economy is poised for a rapid and broad recovery after an unprecedented contraction in peacetime in the spring, but a coronavirus vaccine may be necessary before a full recovery is possible, according to Reuters. “The clear and widespread recovery in macroeconomic …

The People’s Bank of China (PBOC) has set the yuan reference rate at 6.9362 versus Friday’s fix at 6.9405

The People’s Bank of China (PBOC) injected CNY700 billion via one-year medium-term lending (MLF) facility on Monday. The Chinese central bank issued the one-year MLF at 2.95%, unchanged from the previous operation. The PBOC kept the rates unchanged for the fourth straight month. USD/CNY is under pressure, looking to extend …

Russia said, Saturday, August 15, that it had produced the first batch of the Coronavirus vaccine after Russian President Vladimir Putin announced that his country was the first in the world to approve a vaccine. Putin’s announcement on the vaccine on Tuesday was met with warnings from scientists and the …

The European Union has agreed to purchase 300 million doses of the Coronavirus vaccine for the pharmaceutical company “AstraZeneca” as soon as it becomes available, according to the Commission. The European Commission, which is negotiating on behalf of all 27 EU member states, said the deal includes an option to …

American and Chinese importers and dealers told Reuters that crude oil shipments from the United States to China will rise dramatically in the coming weeks, as the two largest economies in the world prepare to review an agreement signed in January after a long trade war. They said that Chinese …

FX option expiries for Aug 17 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1900 937m  – GBP/USD: GBP amounts         1.3090 623m – USD/JPY: USD amounts          105.50 534m105.65 624m   106.02 438m – NZD/USD: NZD amounts 0.6575 301m 

The New York Stock Exchange (NYSE) showed a mostly negative performance on Friday, as weak economic data in the United States weighed on the stock market, amid concerns over a second wave of the COVID-19 pandemic. The Dow Jones Industrial Average added 0.1%, while S&P 500 lost less than 0.1%, …

President of the Federal Reserve Bank of Dallas, Robert Kaplan, has expressed tolerance with the idea of the inflation rate going above the 2% target. “I would be willing to see inflation run moderately above 2% in the aftermath of periods where we’ve been running persistently below.”“I’m not making a …

Oil prices settled lower on Friday, narrowing its weekly gains, amid concerns over the recovery of the demand and a second wave of the coronavirus (COVID-19) pandemic. Brent crude futures for October delivery finished lower by 0.4% at $44.80 per barrel, but gained 0.9% for the week. Meanwhile, the West …