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The International Monetary Fund (IMF) is now more optimistic about the recovery of the global economy, as shown by the latest World Economic Outlook released on Tuesday. The IMF sees the global economy growing by 5.5% in 2021, compared with its expectations in October of 5.2% growth. As for 2022, …
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January, 2021
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26 January 2021 10:00 pm
European Stocks Rise After Two Declines
European stocks closed higher on Tuesday, following two consecutive declines, supported by a positive performance by major market sectors led by chemicals and financial sectors, as well as good financial results by a number of major listed companies. The rise of European stock markets also comes amid an overall improvement …
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26 January 2021 8:56 pm
USD Declines from Week-High as Risk Appetite Improves
The U.S. Dollar (USD) is declining across the board on Tuesday, as investors are seeking riskier currencies as assets amid an improvement in the risk appetite. Concerns about the problems facing the rollout of Coronavirus vaccines around the world as well as the rising number of new COVID-19 cases helped …
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26 January 2021 8:14 pm
Richmond Fed Manufacturing Index Declines in January
The Richmond Fed Manufacturing Index declined from 19 in December to 14 in January, data by the Federal Reserve Bank of Richmond showed on Tuesday. Despite the decline, the index remained in the expansion territory. Manufacturers reported lengthening vendor lead times, as this index rose to 39, its highest reading …
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26 January 2021 8:00 pm
U.S. Consumer Confidence Rises in January
Consumer confidence in the United States increased during in January, despite worries about the Coronavirus pandemic, data showed on Tuesday. The consumer confidence index by the Conference Board rose to a reading of 89.3 in January from 87.1 in December.
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26 January 2021 6:00 pm
US: Philly Fed Nonmanufacturing Index Improves to -17.5 in January From -26.6 in December
The Regional Business Activity Index of the Federal Reserve Bank of Philadelphia’s Nonmanufacturing Business Outlook Survey improved to -17.5 in January from -26.6 in December.
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26 January 2021 5:41 pm
IMF: Global Economic Growth Forecast For 2021 at 5.5% vs. 5.2% in October
In its latest World Economic Outlook report, the International Monetary Fund (IMF) revised up its forecast for 2021 global economic growth to 5.5% from 5.2% in October’s publication, as reported by Reuters. “IMF forecasts 2020 global economic contraction at 3.5% vs. October forecast of 4.4% contraction, cites stronger-than-expected momentum in …
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26 January 2021 5:26 pm
Saudi Arabia Markets Dual-Tranche Dollar Bonds – Document
A document seen by Reuters showed that Saudi Arabia has begun marketing the sale of standard-sized US dollar-denominated bonds in two tranches for a term of 12 and 40 years. The Kingdom has set an initial indicative price at about 165 basis points over ten-year US Treasury bonds for the …
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26 January 2021 4:42 pm
Merkel: Will Lobby For Strengthening of WTO
German Chancellor Angela Merkel said on Tuesday that Germany will lobby for the strengthening of the World Trade Organization (WTO) and noted that the WTO is the basis for fair trade, as reported by Reuters. “We hope to continue the Organisation for Economic Co-operation and Development (OECD) work on the …
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26 January 2021 4:40 pm
Italy: Prime Minister Giuseppe Conte Officially Resigns
Italian Prime Minister has officially resigned, Reuters reported on Tuesday, citing a statement released by the President’s office. The press release further revealed that the President will start consultations with political parties on Wednesday on how to resolve this crisis.
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26 January 2021 3:41 pm
German Health Ministry: Can’t Confirm Reports on AstraZeneca Vaccine’s Lower Efficacy
Responding to the media reports on the efficacy of AstraZeneca’s coronavirus vaccine, Germany’s Health Ministry said that they can’t confirm the local reports. “Data doesn’t suggest the efficacy of just 8% for older people.”
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26 January 2021 2:54 pm
IEA: Global Demand for Natural Gas May Grow by About 3% this year
An analyst from the International Energy Agency announced that global gas demand is expected to grow by 2.8% this year, equivalent to about 110 billion cubic meters, to recover towards 2019 levels. The expected recovery will not be significant and that the more mature markets will only see a gradual …
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26 January 2021 2:19 pm
Oil Falls Amid a Row Over US Stimulus And a Spike in Covid-19 Cases
Oil prices plunged on Tuesday, January 26th, as the chances for rapid approval of a new economic stimulus receded in the United States, while a surge in coronavirus cases raised doubts about the pace of any recovery in demand. Brent crude fell 28 cents, equivalent to 0.5%, to more than …
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