Market Update

The United Kingdom (UK) is near to reaching a trade agreement with Japan, as the two countries have reportedly reached substantial progress in negotiations for a bilateral post-Brexit trade deal. A preliminary agreement could be signed by the end of August, Reuters reported. “We agreed to accelerate talks with an …

The United Kingdom (UK) and the European Union (EU) could soon reach an agreement regarding their bilateral trade ties after the Brexit, according to the British Minister of Finance, Rishi Sunak, Reuters reported. A deal could be reached as early as September, according to Sunak. “We remain confident that it …

The Reserve Bank of Australia (RBA) is not expecting the gross domestic product (GDP) to contract by more than 4% in 2020, before recovering by 6%. “We estimate that activity contracted severely in the June quarter of this year, but began to recover late in the quarter.” The central bank’s …

The Canadian seasonally adjusted Ivey Purchasing Managers’ Index (PMI) rose in July to 68.5 from 58.2 in June, exceeding market expectations, Reuters reported. Data provides another signal for economic recovery from the impacts of the COVID-19 pandemic. This comes two months after the index registered a record low of 22.8 …

The unemployment rate in Canada fell to 10.9% in July, from 12.3%, as shown by official data on Friday. Market analysts were expecting an 11% unemployment rate, according to a recent Bloomberg survey. However, with the number of new jobs exceeding forecasts, unemployment declined more than expected.

The Canadian economy continued to add new jobs for the third consecutive month, after adding 418,500 jobs in July. Canada has now recovered more than half of the three million lost jobs due to the coronavirus (COVID-19) pandemic, Bloomberg reported. Hourly wages increased by 5.7% last month on an annual …

Wholesale inventories in the United States declined by 1.4% in June, according to data by the U.S. Department of Commerce on Friday. Wholesale inventories were expected to decline by 2%, according to initial estimates after falling by 1.2% in May. Moreover, goods imports saw their biggest increase in more than …

The safe-haven dollar is rising across the board Amid Reports US to Sanction Hong Kong Leader Carrie Lam. The US administration is reportedly considering expanding its action against China, potentially sanctioning Hong Kong leader Carrie Lam. Bloomberg is reporting. Such a move would come after President Donald Trump signed an …

The US dollar index, which measures the greenback’s against a group of major currencies, remains on the buying bias unchanged around 93.00 on Friday, and the index retreated from its daily gains to 93.30 and drops to test the 93.00 area as it lacked momentum after the US NFP report. …

Net Change in Employment in Canada rose by 418,500, compared to analysts’ estimate of 400,000, in July and brought the Unemployment Rate down from 12.3% in June to 10.9% in July, Statistics Canada reported on Friday. Underlying details of the publication revealed that the Participation Rate improved from 63.8% to …