Russian Ruble Trades Near 6-Month Low as Manufacturing Sector Resumes Contraction
The Russian ruble continued to trade near 6-month low hit last week as crude oil prices remained weak on worries over recovery in fuel demand and an increase in the US crude oil stock piles. The most watched Brent crude
Read MoreSouth African Rand Hits Over One Week High as Mfg PMI Rises Above Pre-Pandemic Levels
The South African rand recorded more than one week high of 16.40 against the greenback Friday, following news reports that President Cyril Ramaphosa will unveil the Mooiklof Mega Residential City tomorrow, the first government backed venture in its $139 billion
Read MoreUS Dollar Index Hovers Around 2-Month High On Solid Texas Manufacturing Index Data
The US dollar index declined slightly to about 94.20 Monday, but stayed near two-month high of 94.64 in the earlier session as data published by the Federal Reserve Bank of Dallas reported 2-Year High Texas Manufacturing Index data. Investors continue
Read MoreCanadian Dollar Hits Eight Week Low as Covid-19 Infections Surge
The Canadian dollar closed Friday’s trading at 1.3396 against the greenback, reflecting eight week low against the back drop of a strengthening dollar, mounting worries over a surge in worldwide Covid-19 infections and a decline in crude prices. Notably, Prime
Read MoreYen 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 MoreUS Retail Sales Growth Eases in August
In spite of ending the federal stimulus program that boosted consumer spending, the US retail sales rose in August, reflecting the fourth consecutive monthly increase, extending a rebound that has persisted for a longer duration that anticipated by several economists.
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 MorePound Posts Steep Decline on Brexit Concerns & Covid-19 Resurgence
The British pound traded at about $1.33 Friday, reflecting a decline of 0.5% from previous week, the largest since mid-June. The decline happened against the backdrop of worries about absence of any headway in Brexit discussions. Notably, EU’s negotiator Michel
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
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