Yen Declines as Japanese Flash Mfg. PMI Signals Further Economic Slowdown
The Japanese yen declined against the greenback yesterday following the report of worse than anticipated flash manufacturing PMI (purchasing managers’ index) data and indicated contraction of the sector. Notably, the flash manufacturing PMI data from the US was better than
Read MoreRussia Central Bank Maintains Benchmark Rate at 4.25% as Unemployment Soars to 8-yr High
The central bank of Russia maintained its benchmark interest rate at 4.25% Friday, freezing its monetary easing policy for the time being as inflation rises and the country stares at new sanctions. The central bank of Russia, however, hinted that
Read MoreDollar Posts 2nd Straight Weekly Gain
The US dollar index inched down 0.1% to roughly 92.30 on Friday, but recorded a weekly gain of 0.6%, reflecting the first consecutive weekly gains since May. The greenback recorded a 28 month low of 92.144 on August 31, but
Read MoreJapan Core Machinery Orders Rebound 6.3% m-o-m in July
Japan’s machinery orders bounced back in July following a steep decline in the earlier month, a huge break for the Covid-19 afflicted economy but the forecast for capital outlay continued to be unclear due to volatile global business scenario. The
Read MoreRussian Ruble Falls to Near 5-Month Low
The Russian ruble lost nearly 1% to trade at about 76.12 against the greenback Monday, a level seen on April 21, pushed down by weak oil prices and geopolitical issues. The benchmark Brent crude fluctuated around 2-month low of $41.71
Read MoreAustralia Succumbs to Covid-19, Posting First Recession in Three Decades
Australia’s trade surplus declined to A$4.61 billion in July, from A$8.15 billion in the earlier month and lower than Consensus estimate of A$5.40 billion. It was the smallest trade surplus since pre-pandemic February, against the backdrop of extended effect of
Read MoreUK Manufacturing Output Grows at Quickest Rate in Six Years
The euro dollar declined against the pound following the release of lower-than-anticipated Spanish and German manufacturing PMI data. The increase in the Italy unemployment rate also contributed to the weakness of the euro. The pound’s rally was also aided by
Read MoreCanadian Dollar Hits 7-Month High as Economy Gallops 6.5% m-o-m in June
The loonie rallied against the greenback to hit a seven month high of $1.304 after the recent GDP data indicated that the country’s economy expanded by a historical high 6.5% in June, rebounding further from April’s record low level of
Read MorePeso Hits Historical Low as Argentina Contemplates Joining Belt & Road Initiative
The Argentine peso fell further to breach 73.80 against the greenback, the lowest level documented, after the country’s central bank president Pesce opined that the restructuring agreement with creditors should minimize the necessity for additional currency exchange prohibitions and assist
Read MoreCanadian Dollar Reverses From Seven-Month High on Weak Crude Prices
The US dollar is showing signs of recovering the lost ground against the Canadian dollar after the latter hit seven month high on reports of Chrystia Freeland, Deputy Prime Minister, being selected as the country’s finance minister replacing Bill Morneau
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