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The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Wednesday, as the overall industrial sector returned to expansion in June. Manufacturing output arrived at 11.0% MoM in June versus 10.0% expectations and 8.4% booked in June, while total industrial output came in at 9.3% …
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August, 2020
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12 August 2020 11:16 am
UK’s Sunak: Economy is now in Hard Times.
Following the release of the key UK macro data on Wednesday, the British Finance Minister/ Chancellor Rishi Sunak said that the UK economy is now in ‘hard times’, the figures today confirm that. “There will be many more job losses in the coming months.”“Hundreds of thousands of people have already …
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12 August 2020 11:12 am
FX Option Expiries for AUG 12 NY Cut
FX option expiries for Aug 12 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – USD/JPY: USD amounts 105.75 365m106.00 620m – NZD/USD: NZD amounts 0.6525 1.0bn0.6600 285m
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12 August 2020 2:45 am
Daily Recap: Tuesday, August 11, 2020
After a continuous upward trend that saw it achieve new unprecedented levels, gold prices were always going to see a correction wave, as stock markets flourished amid an improved risk appetite. Meanwhile, oil prices fell on rising concerns about the COVID-19 pandemic and its effect on the demand recovery, despite …
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12 August 2020 2:33 am
NYSE Indices Mixed at Tuesday’s Close
The New York Stock Exchange (NYSE) indices settled mostly lower on Tuesday, as Wall Street investors reacted negatively to the U.S. Congress failing to reach a deal on the new economic stimulus package with many differences between Democrats and Republicans. The Dow Jones Industrial Average closed down by 0..38%, while …
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12 August 2020 2:26 am
U.S. to Purchase 100 M Doses of Moderna Vaccine
President of the United States, Donald Trump, announced on Tuesday that the U.S. government has reached an agreement to purchase 100 million doses of Moderna’s COVID-19 vaccine. Moderna has been working on a vaccine for sometime now and has received huge funds from the U.S. government for its research. The …
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12 August 2020 2:23 am
Biden Picks Kamala Harris for VP Slot on Democratic Ticket
Former Vice President of the United States and the Democratic Party’s Candidate for the 2020 U.S. Presidential Elections, Joe Biden, announced that he has chosen Senator Kamala Harris as his running mate. Harris, the first Black woman to be nominated for the Vice President position by a major political party …
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12 August 2020 2:12 am
API: U.S. Crude Oil Inventories Down 4.4 M Barrels in Week
The United States crude oil inventories decreased by 4.4 million barrels last week, according to data by the American Petroleum Institute (API) released on Tuesday. The U.S. crude stockpiles now stand at around 516 million barrels. Meanwhile, gasoline inventories fell by 1.3 million barrels, while distillate stockpiles declined by 2.9 …
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12 August 2020 2:05 am
Russia’s GDP Contracts 8.5% in Q2 of 2020
The Russian economy contracted by 8.5% on an annual basis during the second quarter (Q2) of 2020, official data showed on Tuesday. The economic downturn came amid the coronavirus (COVID-19) outbreak, with lockdowns and preventive measures casting their shadows economic activities. Next year, Russia’s gross domestic product (GDP) is expected …
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12 August 2020 1:58 am
Airbnb Plans IPO in 2020
Airbnb, the company responsible for the famous mobile application and web service for home and room rentals could seen file for an initial public offering (IPO), the Wall Street Journal reported. Accordingly, Airbnb Inc could go public as early as before the end of the year. The company announced its …
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12 August 2020 1:52 am
Barkin: No Stimulus Package Could Spur Recession
President of the Federal Reserve Bank of Richmond, Thomas Barkin, said that if the U.S. Congress failed to reach an agreement on a second economic stimulus package there could be a risk of a recession of historic proportions.
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12 August 2020 1:43 am
Oil Prices Settle Lower by 1%
Oil prices decline on Tuesday, after rising earlier in the session to its highest level in about five months, amidst concerns about a second COVID-19 wave as the number of cases increase in many countries. In addition, the market is still anticipating passing the second stimulus package by the U.S. …
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12 August 2020 1:24 am
EIA: U.S. Oil Production Seen at 11.26 M b/d in 2020
The U.S. Energy Information Administration (EIA) said on Tuesday that it expects crude oil production in the United States to decline by 990,000 barrels per day (b/d) in 2020 to 11.26 million b/d. This implies a higher decline than what was forecasted last month, at 600,000 b/d. The EIA now …
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