Second-quarter GDP plunged by worst-ever 32.9% amid virus-induced shutdown
The U.S. economy saw the biggest quarterly plunge in activity ever, though the plummet in the second quarter wasn’t as bad as feared. Gross domestic product from April to June plunged 32.9% on an annualized basis, according to the Commerce...
‘King Dollar’ Falls from Grace, Growth Concerns to Blame?
The world’s reserve currency took a beating lately, as the resurgence of infections in the US painted a darker outlook for the nation’s economic recovery and sparked expectations for more action by the Fed. But FX is a two-way game,...
US: A Record-Setting Decline in GDP as COVID-19 Struck
The information contained in this report has been prepared for the information of our customers by TD Bank Financial Group. The information has been drawn from sources believed to be reliable, but the accuracy or completeness of the information is...
Risk Sentiments Weaken on Record GDP Contractions, Canadian Follow Oil Lower
Commodity currencies are general under pressure today, following global stock markets lower. Record Q2 GDP contraction in Germany and US are weighing on sentiments. Rebound in jobless claims add to concern of double dip recession. US futures also tumble after...
U.S. weekly jobless claims rise for a second straight week, total 1.434 million
The number of Americans who filed new claims for unemployment benefits last week totaled 1.434 million, the Labor Department reported Thursday, roughly in line with expectations, as the coronavirus pandemic continues to ravage the U.S. economy. It was the 19th straight...
XAU/USD Analysis: Supported By 55-Hour SMA
Yesterday, the XAU/USD exchange rate tried to exceed the 1,970.00 level. During Thursday morning, the rate was testing the support provided by the 55-hour SMA near 1,955.00. If the given moving average holds, it is likely that some upside potential...
USD/JPY Analysis: Consolidates Near Fibo 23.60%
On Wednesday, the USD/JPY currency pair consolidated near Fibo 23.60% at 105.03. During today’s morning, the pair maintained its consolidation. It is likely that some downside potential could prevail in the market, as the exchange rate is pressured by the...
DJ D-Sol drops another PR bomb
Just one day after Goldman Sachs announced a settlement with Malaysia over the 1MDB fraud, David Solomon took to the stage in the Hamptons resort east of New York to party in the character of his music loving avatar DJ...
Fed Signals Steady Course
Market movers today Q2 GDP figures are due for release in the US and Germany and will reveal the depth of the economic fallout. We look for a decline in US GDP of 30% q/q (annualised) and 7.9% q/q in...
Dovish Fed Warned that Recovery Path Dependent on Virus, Pledged to Add More Stimulus when Needed
The Fed sent a more dovish message at the July meeting, although the monetary policy, as well as the accompanying statement, stayed largely unchanged. Despite improvement of data flow, the members warned that the pace of recovery is depending on...
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