Source: Federal Reserve Industrial production posted a slight growth in July to mark the fifth straight month of expansion, but this was still not enough to hit pre-pandemic levels. Industrial production grew by 0.9% in July, faster than the 0.2% increase in June.The total index increased to 101.1 in July, up from 100.2 the previous month. This is still 0.2% below … [Read more...] about Industrial Production Slightly Up in July to Mark Fifth Straight Month of Growth
Forex News
American Retail Sales Growth Falls to Negative in July
Source: US Census Bureau American retail sales posted a decline in July, marking a reversal from the rebound recorded in June, but remained higher than levels recorded in the previous year. Retail and food services sales stood at $617.7 billion in July, down 1.1% from the previous month but 15.8% up from July 2020.Retail trade sales fell 1.5% from June, but up 13.3% from … [Read more...] about American Retail Sales Growth Falls to Negative in July
EU, Euro Area GDP Rebound Over 13% in Second Quarter
Source: EuroStat The European Union and Euro area economy rebounded in the second quarter, following several quarters in negative territory. The Euro area gross domestic product climbed 13.6% year-on-year and 2.0% when compared with the first quarter.The European Union economy expanded 13.2% year-on-year and 1.9% quarter-on-quarter.The biggest annual growths were seen in … [Read more...] about EU, Euro Area GDP Rebound Over 13% in Second Quarter
India Exempts Foreign Sovereign Bonds from Regulatory Cap
Source: Bloomberg India’s central bank said foreign sovereign bonds are exempted from the restrictions imposed on holdings of securities unlisted in the country, caving into requests of local lenders. The Reserve Bank of India said foreign sovereign bonds are not included in the 10% cap on holdings of securities that are not listed in India.The RBI earlier this month … [Read more...] about India Exempts Foreign Sovereign Bonds from Regulatory Cap
Multi-Asset Analysis: USDJPY Turns Bearish on Dollar Weakness As Gold Bulls Eye $1800
US dollar under pressure amid waning consumer sentimentsYen strengthens across the board amid a spike in demand for safe-havensGold bounce back on track as bullseye $1800US indices under pressure amid COVID-19 concernsBitcoin march to $50,000 on track The US dollar was on the front at the start of the week, recouping some of the losses accrued last week early Monday morning. … [Read more...] about Multi-Asset Analysis: USDJPY Turns Bearish on Dollar Weakness As Gold Bulls Eye $1800
