The White House need to agree on increased spending for the next COVID-19 stimulus package, said the United States House of Representatives Speaker, Nancy Pelosi, on Thursday. Recently, the President of the United States, Donald Trump, claimed that his administration has saved more than 50 million jobs, through the COVID-19 …
Read More »Loonie Declines Despite US Market Pause
The Canadian Dollar continued its downward spiral on Thursday, losing another 0.1% against the US Do…
BoE’s Breeden: Some evidence of activity weakening, but we expect it to pick up again
Bank of England (BoE) Monetary Policy Committee (MPC) member and Deputy Governor for Financial Stabi…
Fed’s Harker Signals Continued Rate Cuts, But Urges Caution
Philadelphia Federal Reserve President Patrick Harker reiterated his belief that the U.S. central ba…
Gold Prices Extend Rally Amid Rising Inflation Concerns
Gold prices extended their rally for a third consecutive day, surpassing $2,675, as investor concern…
Oil Prices Edge Higher Amid Firm Winter Demand Expectations and Supply Concerns
Oil prices rose slightly on Thursday, with Brent crude and West Texas Intermediate (WTI) gaining 0.5…
UK Retailers Face Sector-wide Selloff Amid Consumer Confidence Worries
Shares in leading UK retailers fell sharply on Thursday, erasing £2 billion ($2.45 billion) in marke…
Global Forex Update: Dollar Steadies Amid Fed Optimism, Euro and Yuan Under Pressure
The U.S. dollar held firm on Thursday, bolstered by hawkish Federal Reserve minutes and strong econo…
Germany’s Exports and Industrial Production Beat Expectations, but Economic Challenges Persist
Germany, the eurozone’s largest economy, delivered better-than-expected export and industrial produc…
European Stocks Edge Lower Amid Mixed Economic Data and Retail Earnings
European stock markets traded slightly lower on Thursday, as investors evaluated economic data and r…
Oil Prices Steady Amid Seasonal Demand and Rising U.S. Inventories
Oil prices held steady on Thursday as markets balanced strong winter fuel demand expectations with c…
Market Analysis
August, 2020
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27 August 2020 7:13 pm
US Pending Home Sales Rise in July
The United States Pending Home Sales Index increased by 5.9% to 122.1 in July, according to data by the National Association of Realtors on Thursday.
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27 August 2020 5:57 pm
UK Car Production Ramps up in July
Data from the auto sector revealed that car production in Britain increased strongly in July, but is still below the level of last year, after manufacturing almost completely stopped in April at the start of isolation measures to combat the Corona virus. The Association of Automobile Manufacturers and Dealers said …
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27 August 2020 5:27 pm
Powell Speech: Fed Not Tying Itself to Any Particular Method to Define Average Inflation
Jerome Powell, Chairman of the Federal Reserve System, is delivering his remarks at the virtual Jackson Hole Economic Policy Symposium titled “Navigating the Decade Ahead: Implications for Monetary Policy.” “Fed not tying itself to any particular method to define average inflation, policy will not be dictated by any formula.”“Fed will …
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27 August 2020 5:15 pm
FOMC Chairman Powell Says Fed Will Target Average Inflation as New Strategy
Jerome Powell, Chairman of the Federal Reserve System, said that the Fed in its new strategy will target average inflation in his prepared remarks at the virtual Jackson Hole Economic Policy Symposium.
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27 August 2020 5:06 pm
FOMC Chairman Jerome Powell’s speech – Live Stream
Jerome Powell, Chairman of the Federal Reserve System, will be delivering his remarks at the virtual Jackson Hole Economic Policy Symposium at 1310 GMT on Thursday. Powell is expected to discuss the Fed’s monetary policy framework review at the conference titled “Navigating the Decade Ahead: Implications for Monetary Policy.”
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27 August 2020 4:52 pm
US: More Than 1 Million Americans Applied For Unemployment Benefits
There were 1,006,000 Initial Claims for unemployment benefits in the US during the week ending August 22nd, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed last week’s print of 1,104,000 (revised from 1,106,000) and came in slightly worse than the market expectation …
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27 August 2020 4:41 pm
US: Real GDP Contracts by 31.7% in Q2
The United States’ Real Gross Domestic Product (GDP) contracted at an annual rate of 31.7% in the second quarter, the US Bureau of Economic Analysis’ second estimate showed on Thursday. This reading came in better than the advance estimate of 32.9% and the market expectation of 32.5%.
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27 August 2020 4:23 pm
Hurricane Laura is The Biggest Threat to America’s Oil Production in 15 Years
After raising it to the fourth category, Hurricane Laura is classified as the biggest threat to US oil in 15 years, in light of the expected damage to the energy infrastructure in the region as the halt of US oil production in the Gulf of Mexico approaches its level during …
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27 August 2020 3:22 pm
Kudlow: Trump Administration is “Satisfied” With China’s Implementation
White House economic adviser Larry Kudlow said Trump administration officials are convinced that China is implementing a “phase 1” trade agreement with the United States, following a high-level phone call to review progress. He added that US Trade Representative Robert Lighthizer is “satisfied” that China has so far implemented the …
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27 August 2020 2:33 pm
European Stocks Falling Down, Focus on Powell
European stocks fell during early trading on Thursday, as investors awaited US Federal Reserve Chairman Jerome Powell’s speech for new clues about the path of monetary policy. The Stoxx 600 index currently fell by 0.43% to 371.5 points, while “FTSE” fell by 0.42% to 6,019.82 points. The German DAX index …
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27 August 2020 2:16 pm
Japanese Stocks Closing Lower
Japanese indices fell on Thursday, amid concerns among investors about the tension between the United States and China and focus on the speech of Jerome Powell, Chairman of the US Federal Reserve. Nikkei 225 index fell by 0.35% to 23208.86 points, while TOPIX index fell by 0.53% at 1615.89 points. …
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27 August 2020 2:12 pm
FX Option Expiries For Aug 27 NY Cut
FX option expiries for Aug 27 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1750 530m1.1755 658m1.1800 581m1.1900 1.0bn1.1950 823m – USD/JPY: USD amounts 104.90 425m105.00 1.7bn105.50 890m105.75 706m106.50 404m106.60 706m107.00 441m107.15 353m – AUD/USD: AUD amounts 0.7190 587m – USD/CAD: USD amounts 1.3100 …
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