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Market Update

Euro Trying to Recover

The single currency rose on Monday to hit a four-month high against the US dollar on traders’ speculation about the European Union summit and the possibility of reaching an agreement regarding a huge recovery fund for the region. EUR/USD rose 0.2% to 1.1443 after reaching a four-month high of 1.1467, …

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Eurozone Current Account Surplus Drops Further

The current account surplus of the 19 European Union countries shrank to 7.95B Euros in May from 14.27 in April on a large outflow of secondary income, includes transfers between residents and non-residents. In the 12 months to May, the Eurozone current account surplus fell to 2.2% of GDP from 2.7% in the …

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Fed Opens Main Street Program to NPOs

The US Federal Reserve has opened its Main Street lending program to nonprofit entities, Reuters reported. The move allows healthcare, education, and social service organizations to receive funding from the Fed. “We have listened carefully and adapted our approach so that we can best support them in carrying out their …

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