The Germany’s annualized preliminary Gross Domestic Product is down 4.3% in the third quarter of 2020, moderating the 5.3% decline expected and the 11.3% decline in the second quarter. This is the third consecutive quarter of falls in the indicator. Quarterly GDP has grown by 8.2%, surpassing the estimated 7.3% and the 9.8% decline in […]
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The Minister of Finance expects the country’s economy to contract by 11% in 2020
It is anticipated that French economy to contract by 11% in 2020said French Finance Minister Bruno Le Maire after preliminary third-quarter GDP rebounded 18.2% versus + 15.4% expected. “We will have a fourth quarter economy that will be tough,” Le Maire added. The discouraging comments come after France reported 47,637 new confirmed coronavirus cases in […]
Fear returns before Halloween amid rising covid and electoral uncertainty
This is what you need to know to trade today Friday 30th of October: Markets are on the defensive again on Friday after recovering on Thursday. The ECB said it would act in December amid the virus resurgence, while cases in the United States hit a new record. GDP releases in the Eurozone and Canada, […]
US: Fourth-quarter growth expected to slow sharply
The first reading of GDP growth during the third quarter showed a record expansion after a record contraction in the second quarter. Despite the strong number, the level of real GDP still remains 3.5% below its peak in the fourth quarter of 2019, they argue Wells Fargo analysts. Key statements: “Most spending components posted record […]
The Government will allocate 2,230 million to commerce, tourism and SMEs, 150% more
Government will allocate 2,230 million euros in 2021 to Trade, Tourism and SME policies of euros. This allocation represents an increase of 150% with respect to the previous accounts, according to the draft of the General State Budgets for 2021 of the Executive. Of the total allocated in 2021 for these policies, 1,627 million belong […]
USD / JPY recovers from multi-week lows, lacks follow-up amid weakened risk sentiment
USD / JPY managed to find some support near 104.00 amid widespread USD strength. The US dollar held firm after data showed the US economy grew 33.1% between July and September. A new leg to the downside in equity markets sustained the safe-haven JPY and limited gains. The USD / JPY pair managed to bounce […]
USD / CAD recovers to 1-month highs, rapidly approaching 1.3400
Resurgent USD demand helped USD / CAD rally around 100 pips from daily lows. The USD held high following the release of a stronger than expected US GDP report. The fall in oil prices undermined the Canadian dollar. The pair USD / CAD it rallied around 100 pips from daily lows and spiked to nearly […]
Gold falls near one-month lows, below $ 1,870 after US GDP.
Resurgent demand for the US dollar sparked further gold sales on Thursday. The USD remained high after the release of the optimistic US Q3 GDP report. The US economy expanded at an annualized rate of 33.1% compared to the 31% expected. The gold it extended its sharp intraday slide during the early North American session […]
Economy rebounds strongly in the third quarter at a rate of 33.1%, higher than the 31% expected
The first reading of US GDP growth for the third quarter. showed a strong rebound in the economy, at an annualized rate of 33.1%, beating the market consensus which was by 31%. The rebound shows record growth after the contraction record of the second quarter of 31.4%. The GDP price index it was 3.7% in […]
USD / JPY at five-week lows near 104.00 level
USD / JPY is moving negative for the third day in a row on Thursday. Concerns about rising COVID-19 cases benefit the safe haven JPY and put some pressure on the pair. A modest pickup in USD demand could help limit the deeper losses ahead of the release of US Q3 GDP. The pair USD/JPY […]