Dollar Shrugs FOMC While Euro Awaits ECB and GDP
Commodity currencies remain the strongest one today as supported by risk appetite. Sentiments are lifted by expectations of lockdown exits as well as optimism on coronavirus treatment. Dollar remains generally weak with Fed providing little inspirations. Euro and Swiss Franc...
Euro-Zone’s Economic Confidence Sharply Deteriorated In April
For the 24 hours to 23:00 GMT, the EUR rose 0.44% against the USD and closed at 1.0874. On the macro front, Euro-zone’s consumer confidence index eased to -22.7 in April, compared to a level of -11.6 in the previous...
Fed Markedly Downgraded Economic Assessments on Sharp Decline in Activities and Surge in Unemployment
While maintaining all monetary policy measures unchanged in April, FOMC sent a more negative message about the economy. The members noted the sharp deterioration in economic activities and a jump in unemployment, cautioning that the negative impacts could prolong in...
Fall in corporate FX activity moves emphasis away from London fix
In a bid to assess the impact of market stress on liquidity, Mosaic Smart Data, a trading analytics company, recently aggregated volume data from foreign exchange settlement firm CLS over two periods, from January 1, 2018, to February 26, 2020,...
Plunge in health-care spending a big reason US economy sank in first quarter
A COVID-19 patient is delivered by ambulance to Wyckoff Heights Hospital in Bushwick, New York, Thursday, April 2nd, 2020. B.A. Van Sise | NurPhoto | Getty Images The coronavirus pandemic has put health care at the forefront of the nation’s...
Trump to meet with executives from Waffle House, Wynn, Toyota, others to discuss reopening economy
President Donald Trump speaks during a meeting with supply chain distributors in the Cabinet Room of the White House in Washington, U.S., March 29, 2020. Al Drago | Reuters Executives from Wynn Resorts, Hilton, Toyota North America and Waffle House are...
Over 50% of department stores in malls predicted to close by 2021, real estate services firm says
First, the department store closes. Then, the apparel shops try to scoot out of deals. This is a one-two punch that could trigger a wave of malls shutting for good over the next 12 months. More than 50% of the...
Powell says the economy will likely need more support from the Fed for the recovery to be ‘robust’
Federal Reserve Chairman Jerome Powell said more stimulus is needed to ensure a robust economic recovery from the coronavirus crisis. “It may well be the case that the economy will need more support from all of us if the recovery is...
Fed pledges to keep rates near zero until full employment, inflation come back
The Federal Reserve painted a dour picture of current conditions and pledged Wednesday to continue its historically aggressive policy stance until it is comfortable that the U.S. economy is back on its feet. Following this week’s Federal Open Market Committee...
The economic decline in the first quarter reveals even weaker consumers and more unknowns ahead
A person walks by rows of stores closed during the outbreak of the coronavirus disease (COVID-19) in New York, March 28, 2020. Andrew Kelly | Reuters Consumers reined in spending faster than expected in the first quarter, probably even before...
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