Market Update

British consumers spent last month at the highest rate since the country began implementing general isolation and lockdown measures to combat the Coronavirus in March, as bars, restaurants, barber and beauty shops reopened. Data from Barclay Card and the British Retail Consortium showed that spending is close to returning to …

Crude oil prices rose on Tuesday 11 August, supported by expectations of US stimulus that will help launch the largest consumer of oil in the world, and a recovery in Asian demand as economies reopen. Brent crude added 29 cents, or 0.6%, to $ 45.28 a barrel by 08:19 GMT. …

Russian President Vladimir Putin said that the Russian Ministry of Health has given its approval to the world’s first vaccine to combat Covid-19 disease, which was developed by the Gamaleya Institute in Moscow, less than two months after it was tested on humans. This step paves the way for large-scale …

Unemployment benefits in the British economy decreased between May and July 2020, while analysts’ expectations were pointing to a decline. And data released by the British National Statistics Office on Tuesday showed that unemployment benefits in Britain rose to 94.4 thousand applications compared to 68.5 previously. Analysts had forecast that …

The Japanese services sector sentiment index increased during the month of July, which showed some improvement in business confidence despite the continuing concerns about the impact of the Covid-19 pandemic. The Japanese Cabinet’s Labor Survey of taxi drivers, hotel workers and restaurant employees – dubbed “economy watchers” for their proximity …

Car sales in China jumped 16.4% in July compared to last year, the fourth consecutive month of gains as the world’s largest auto market retreated from its lowest levels during the country’s lockdown due to the Coronavirus. Data from the wholesale sales released by the Chinese Association of Automobile Manufacturers …

While flashing another red signal concerning the US-China trade relations, the South China Morning Post (SCMP) quotes US government notice while saying that goods made in Hong Kong for export to the United States will have to be labeled “Made in China” after September 25. It said that 45 days …

Japan’s current account surplus narrowed to the lowest level in five years in June as exports took a hit due to the Covid-19 on global demand. The current account surplus was JPY 167.5 billion ($1.58 billion), the smallest monthly surplus since January 2015, a finance ministry official said on Tuesday, according …

The People’s Bank of China (PBOC) has set the yuan reference rate at 6.9711 versus Monday’s fix at 6.9649.

White House (WH) National Security Adviser O’Brien said in a statement early Tuesday, the US is ‘deeply troubled’ by the arrest of Hong Kong media tycoon Jimmy Lai. His comments come after the geopolitical tensions intensified between the US and China after the police in Hong Kong arrested Jimmy Lai, …