by Christopher Nye | Jul 31, 2020
The dollar is still struggling this morning as the prospect of rising infection rates and a suffering economy weigh. GDP data showed yesterday that the US economy shrank by an annualized 32.9% in the second quarter of 2020. It is the biggest contraction ever, pushing...
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by Christopher Nye | Jul 31, 2020
The Eurozone encountered a series of slightly disappointing data yesterday. EU unemployment, German GDP, Italian bond sale and Italian unemployment came in this morning, all showing negative results. This morning, Germany’s retail sales fell by 1.6%...
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by Christopher Nye | Jul 31, 2020
The pound is strong against the dollar, euro and most major currencies this morning, despite the falling markets and lack of news on Brexit. However, the rally could be due to a more positive outlook after Michel Barnier said he was ‘confident’ that a Brexit deal...
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by Christopher Nye | Jul 31, 2020
The pound is strong this morning against the euro, dollar and other currencies, possibly due to a more positive outlook surrounding Brexit and the economy. News that the US economy has fallen into recession has added to the dollar’s woes. With rising infection rates,...
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by Christopher Nye | Jul 30, 2020
As expected, Federal Reserve officials pledged to keep the target interest rate between 0% and 0.25%. They also said that economic growth is “well below” pre-pandemic levels, despite picking up in some areas. As well as keeping interest rates on hold, they...
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