British Pound Rebounds From Three Week Low

The pound sterling gained 0.6% against the greenback to trade at 1.2430 after declining to a three month low of $1.2337 in the earlier trading session, backed by a weak greenback, chances of a Brexit trade deal and optimistic economic

Read More

US Current Account Deficit Narrows to Lowest Level in Two Years

The dollar index rose to 97.60 versus a bouquet of currencies Friday, near to levels never seen since early June as investors are worried about a second wave of Covid-19 infections and varied economic data unveiled during the week, including

Read More

US Building Permits Miss Forecasts, Permits Rebound

In the US, building permits increased 14.4% m-o-m to a seasonally adjusted yearly rate of 1.220 million units in May, following a five-year low in April and slightly below market’s forecasts of 1.228 million units. Single-family authorizations rose 11.9% and

Read More

China Retail Trade Declines 2.8% y-o-y in May

China’s retail trade fell by 2.8% y-o-y in May, compared with economists’ estimates of a 2% decline and following a 7.5% decrease in the earlier month. It was the worst decline in retail trade since an increase in December last

Read More

UK Economy Contracts at Record Pace in April

The UK’s manufacturing production plummeted at record 28.5% y-o-y in April, following a 9.7% decline in March and worse than predictions for a 19.9% decline. The Covid-19 lockdown enforced from March 23rd had a considerable effect on entire economic activity

Read More

Brazil Inflation Hits 21-yr Low Despite 2234% Rise in Car Production

In May 2020, Brazil’s annual inflation rate declined to 1.88%, from 2.4% in the prior month, but surpassed economists’ forecasts of 1.8%. It was the lowest inflation rate since January 1999, far below the government’s median target level of 4%,

Read More

Japan Economy Contracts Less than Preliminary Estimate in Q1

Japanese economy contracted 0.6% q-o-q in the 1Q20, compared with an initial estimate of a 0.9% contraction and economists forecast for a 0.5% decrease. It was the first contraction since 2015, as the Covid-19 issue had a big negative impact

Read More

US Dollar Rallies After Record Monthly Job Additions in May

The US dollar index increased to 97 Friday against a bouquet of currencies following the release of upbeat non-farm payroll data for May. Furthermore, unemployment rate fell to 13.3% following a record high unemployment in April. The US dollar index,

Read More

Swiss Economy Contracts at Record Pace in March Quarter

The Swiss economy contracted 2.6% q-o-q in the first-quarter, the highest since 1980 when the publication of data began, and higher than economists’ expectation for a 2% contraction as economic activity in March was severely restrained due to the Covid-19

Read More

China Manufacturing Expands for 3rd Consecutive Month

China’s National Bureau of Statistics reported an increase in non-manufacturing PMI to 53.60 in May, from 53.20 in the earlier month. It was the third consecutive month of growth in the service sector and robust since January. New business expanded

Read More