Market Update

The United States nonfarm business sector labor productivity increased by 7.3% during the second quarter (Q2) of 2020, as shown by the data released by the Bureau of Labor Statistics (BLS) of the U.S. Department of Labor on Friday. However, output decreased by 38.9% and hours worked declined by 43%. …

US retail sales increased less than expected in July and may slow further in the coming months due to a spike in new COVID-19 cases and a drop in unemployment benefits. The US Commerce Department said retail sales rose 1.2% last month, down from a 8.4% advance in June. Economists …

The eurozone’s trade surplus with the rest of the world jumped in June to 21.2 billion euros (about $ 25 billion) as the bloc’s decline in commodity imports outpaced the decline in exports amid a global downturn in trade due to the Covid-19 pandemic. The European statistics office Eurostat said …

European stocks fell as tourism stocks took a hit after Britain added more European countries to its list of quarantine areas for arrivals, while disappointing retail sales data from China raised doubts about the pace of the economy’s recovery. The pan-European STOXX 600 index fell 0.8%, but is on track …

The dollar stabilized as a jump in US Treasury yields and a drop in sentiment due to weak economic data from China put an end to the global reserve currency sell-off. Retail sales in China continued to decline for the seventh month in July unexpectedly, and industrial production missed expectations, …

The Economy Ministry said that Germany’s economy, which has been hit hard by the Coronavirus pandemic, will grow strongly in Q3 but that a full recovery will take a long time. The ministry added in its monthly report that Europe’s largest economy has been recovering since May thanks to easing …

According to a decree published on Friday, the French government has declared the capital, Paris, and the Bouches-du-Rhone region around Marseille on the Mediterranean coast, “red” areas where the chances of infection with the Coronavirus are high. The decree gives local authorities the power to control the movement of people …

Oil prices rose, and is on track to achieve gains for the second week in light of the growing confidence that demand for fuel has started to rise despite the Coronavirus pandemic that is ravaging economies around the world. Before the Tokyo Stock Exchange closed, Brent crude rose 14 cents, …

Retail sales in China fell in July, disappointing expectations for a moderate increase, as consumers in the world’s second-largest economy failed to unleash caution about the Coronavirus, while the factory sector’s recovery struggled to increase its pace. Asian markets fell today after a disappointing set of economic indicators, which raises …

Citing Russia’s Health Minister Mikhail Murashko, TASS news agency reports on Friday, the government will publish data/ details about the coronavirus vaccine trial in the coming days. On Wednesday, Murashko said the first batch of the vaccine against coronavirus is expected to be released within two weeks. The World Health Organization (WHO), however, …