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Market Update

US Dollar Index Clings to Gains

Tracked by the US Dollar Index, the USD is looking to add gains around the 93.50 area. The index focuses on the expected data, and the index advanced for the second consecutive session on Monday, regaining the middle of 93.00 on caution in global markets. Investors continue to evaluate the …

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Euro Mixed Following German GDP Data

The Euro is showing a mixed performance against major currencies on Wednesday, following data showed the German economy’s biggest contraction on record and an improvement in the Eurozone economic sentiment. Although the EUR is maintaining some gains against commodity currencies, it is declining across the board. EUR is down to …

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German GDP Contracts by 10% in Q2

Germany’s gross domestic product (GDP) recorded its worst decline on record during the second quarter (Q2) of 2020, contracting by 10.1%, as shown by preliminary official data. Moreover, the German economy contracted by 11.7% on annual basis during Q2 of 2020. The COVID-19 crisis has negatively impacted Germany and much …

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Eurozone Economic Sentiment Improves in July

Economic sentiment in the Eurozone rose more than expected in July to 82.3 points from a revised reading of 75.8 in June, according to data by the European Commission. The improvement comes amid the easing of lockdowns and preventive measures against the coronavirus disease (COVID-19). The industry sentiment recorded -16.2 …

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