The ECB rate decision on Thursday just came out. As expected, the central bank leaves the interest rates unchanged. Later today, we will be looking at the June retail sales report from the United States. It’s expected to post a 5.0% rise after a 17.7% rise in May. We will …
Read More »China’s GDP Rebounds in Q2
Official data released early in the morning showed that the Chinese economy witnessed a boom in the processes of reopening the economy and expanding in the post-Covid-19 period in Q2 with the expansion of the country’s manufacturing sector. Q1 annual GDP came in at + 3.2%, exceeding analyst expectations at …
Read More »IMF Chief Warns Global Economy ‘Not Out of The Woods’
Global economic activity is picking up after an unprecedented decline this year due to the coronavirus pandemic, but a second major wave of infections could trigger more disruptions, IMF Managing Director Kristalina Georgieva said. “We are not out of the woods yet,” Georgieva said The International Monetary Fund had cut …
Read More »Gold Close to Session Lows Around $1805
The yellow metal saw modest declines on Thursday and snapped the rally in 3 days. Gold fell during the European session and reached new daily lows around $ 1805-04 in the last hour. The metal failed to take advantage of this week’s rebound from the support area of 1790 and optimism …
Read More »China: Hopes Trade Deal Reached with US Can Still be implemented
China said on Thursday that it hope to implement the first stage of the trade agreement it reached with the United States and stressed its willingness to abide by the agreement despite the recent US sanctions on Chinese officials and companies. Chinese Foreign Ministry spokeswoman Hua Chunying told reporters at …
Read More »European Stocks Lower on Us-China Tension
European stocks fell from their highest levels in a month as the tension between the United States and China weakened hopes of a rapid global economic recovery. Europe’s STOXX 600 was down 0.9% at 0800 GMT and London’s FTSE 100 also fell 0.9%, both partially giving-up yesterday’s gains. Weak earnings …
Read More »Oil Prices Ease After OPEC + Decision
Oil prices retreated after OPEC + agreed to taper record supply curbs from August, although the drop had received some bailouts from the rapid recovery of US demand after crude inventories fell in. Brent fell 33 cents, or 0.8%, to $ 43.46 a barrel, with WTI down 42 cents, or …
Read More »New Car Sales Drop in Europe
Industry data showed on Thursday that European car sales fell in June compared to last year, although they showed an improvement since May we ease of Covid-19 and lockdown measures Statistics of the European Automobile Manufacturers Association (ACEA) showed the registration of new cars in June decreased by 24.1% YoY …
Read More »Shares Fall in Asia, Ignoring Data
Asian shares and US stock futures fell on Thursday, due to concerns about the trade tension between the United States and China and the economic cost of the Covid-19 waves. MSCI’s broadest index of Asia-Pacific shares outside Japan fell by 1.18%, while Tokyo’s Nikkei fell 0.74%. Shares in China fell …
Read More »UK Unemployment Rate Beats Estimates
Data published by the Office of National Statistics (ONS) showed that the UK official unemployment rate remained unchanged at 3.9% posted in May while the number of claimants count change fell unexpectedly last month. The number of people claiming jobless decreased by 28.1K in June, compared to expectations for +250K …
Read More »