Market Update

Wholesale sales in Canada increased over the month of May by 5.7% to $52.6 billion, data by Statistics Canada showed on Friday. This comes after wholesales sales fell during April, due to the outbreak of the coronavirus disease (COVID-19), by 21.4%. However, May’s reading missed market expectations which suggested an …

Key Wall Street indices are set to open higher on Friday, as investors optimistic about more official stimulus to push the post-epidemic economic recovery even with record numbers increasing in COVID-19 cases. Dow e-minis were up 157 points, or 0.59%. S&P 500 e-minis were up 21.5 points or 0.67% and …

The consumer price index (CPI) in the Eurozone increased during June by 0.3%, as shown by data from Eurostat. The rise in inflation rate to 0.3%, comes after it neared a four-year low of 0.1% in May. The European Central Bank (ECB) continues to target an inflation rate in the …

EU leaders are meeting Friday and Saturday in Brussels to discuss the recovery plan to respond to the COVID-19 crisis and a new long-term EU budget. This is the first physical meeting since the coronavirus pandemic started. The meeting will be dedicated to discussing the multiannual budget of the EU …

Bank of England (BoE) Governor Andrew Bailey said on Friday that the “financial markets indicate that interest rates will remain very low.” “People can see that we are committed to keeping markets stable via quantitative easing,” Bailey said, adding that “there is a legitimate question about what we do with …

The national lockdown in the UK was undoubtedly the right thing to do, British Prime Minister Boris Johnson reiterated on Friday. Quotes“We can now control the virus through targeted local lockdowns.”“We are publishing framework for containing future outbreaks.”“Local authorities will be given new powers from tomorrow.”“Ministers will be able to …

The bank’s Survey of Professional Forecasters showed on Friday showed on Friday that the Eurozone economy may contract this year less than what the European Central Bank (ECB) expected and may recover faster. The quarterly survey sees the economy shrinking by 8.3% this year, a downgrade from its May projection …

Eurozone CPI rose 0.3% year-on-year, in line with expectations, according to Eurostat’s final reading of the Eurozone CPI report for June. The key figures came in line with expectations as well, reaching 0.8% in the same month. On a monthly basis, the main Eurozone CPI rose by 0.3% in June, …

China’s fiscal revenue increased by 3.2% in June compared to last year, reflecting a 10% decrease in May with a return to expansion for the first time this year and in line with the recovery in the economy. China’s Finance Ministry said on Friday Ministry of Finance Liu Jinyun told …

European stock markets are set to open higher on Friday, amid hopes for additional stimulus to the region as Covid-19 continue to rise. The futures of the German DAX increased by 0.3%, the British FTSE 100 recorded 0.2% and the French CAC index increased by 0.1%. (06 GMT( European Union …