Source: IHS Markit The Eurozone recorded the fastest expansion in business activity since June 2006, with the component index up to 60.4 in July, from 58.3 in June. DAX is up +0.64%, EURUSD is down -0.13%. The Composite Output Index rose to 60.2 in July, from 59.5 in June, slightly below a preliminary “flash” estimate of 60.6, and marked the fifth consecutive month of … [Read more...] about Eurozone Records the Fastest Expansion in Business Activity in Over 15 Years
Forex News
US Readies Arsenal to Avoid Breaching Borrowing Cap
Source: WSJ United States Treasury Secretary Janet Yellen unveiled additional measures to prevent breaching the government’s borrowing limit, which was reimposed on Sunday. Yellen said the Treasury Department will suspend reinvestments by a number of retirement funds for civil servants and postal workers starting Monday.The funds will only be made whole once the debt … [Read more...] about US Readies Arsenal to Avoid Breaching Borrowing Cap
Producer Prices in EU, Euro Area Climb for 13th Straight Month
Source: Eurostat Industrial producer prices in both the European Union and the Euro area climbed by 1.4% in June, marking the 13th straight month of increases. Producer prices in both the EU and the Euro area rose by 1.4% in June. Prices grew by 1.3% in the Euro area and 1.4% in the EU in May.Prices surged by 10.2% in the Euro area and by 10.3% in the EU in June … [Read more...] about Producer Prices in EU, Euro Area Climb for 13th Straight Month
IMF Plans to Boost Global Liquidity after Approval of Record $650 Billion SDR
Source: International Monetary Fund The International Monetary Fund Governors has allocated a record $650 billion to Special Drawing Rights to boost global economies following Covid-19 devastations. The SDR allocation is expected to address the global need for reserves, increase confidence, and boost resilience and stability across the globe.About $275 billion of the SDR … [Read more...] about IMF Plans to Boost Global Liquidity after Approval of Record $650 Billion SDR
USDJPY Outlook: The Pair Looks Headed for Sideways Trading
Rising Covid-19 cases in Japan may hinder the yen's gains.Speculative trading is likely to set in as the market awaits the next Fed decision.US jobs data is likely to guide traders' decisions on USD. The US dollar continued to show its recent weaknesses against major currencies as it slipped by 0.31% against the Japanese yen to trade at 109.379 at 1410 GMT on Monday. … [Read more...] about USDJPY Outlook: The Pair Looks Headed for Sideways Trading
