The ECB is set on divesting from fossil fuel resources.Green bond purchases by European banks reached €20 billion in 2021.London-based banks have to increase their investment in Europe to continue operations. The euro fell 4.37% against the British pound from its 4-month high of 0.9255. The pair traded at a low 0.8851 on January 27, 2021, amid the news that the European … [Read more...] about EUR/GBP: Drastic Green Bonds Purchases May Disadvantage the Euro
Forex News
Consumer Confidence Tops Expectations to Rise 2.2% in January-The Conference Board
U.S consumer confidence index rose to 89.3 in January, up from December’s 87.1, and above expected 89, according to the Conference Board press release. The increase was fueled by optimism about the outlook of the economy and job market in light of fiscal aid and coronavirus vaccines distribution. The gauge of expectations rose to a three-month high of 92.5, while a … [Read more...] about Consumer Confidence Tops Expectations to Rise 2.2% in January-The Conference Board
ECB Intensifies Scrutiny of Top Banks on Potential Loan Default Risks
The European Central Bank will increase scrutiny of credit risk preparedness by banks on potential loan defaults brought by the pandemic, according to Bloomberg. ECB officials and national watchdogs are pushing lenders to give additional information on their corporate lending in 2020. ECB Supervisory Board Chairman Andrea Enria has severely warned of an increase in banks' … [Read more...] about ECB Intensifies Scrutiny of Top Banks on Potential Loan Default Risks
COVID-19 Crisis Cost the Global Economy About 255 Million Jobs-ILO
COVID-19 pandemic wiped out about 255 million full time jobs globally, raising the concern that the world economy won’t recover fully in 2021. The report by International Labor Organization showed that working hours would remain below those of the pre-crisis levels even under the most optimistic assumptions. Under a baseline scenario, ILO projects that the global economy … [Read more...] about COVID-19 Crisis Cost the Global Economy About 255 Million Jobs-ILO
U.S Existing Home Sales Gained 0.7% in December, 2020 Sales Highest Since 2006
U.S. existing home sales rose 0.7% from November to a seasonally-adjusted annual rate of 6.76 million in December, according to National Association of Realtors press release. The existing home sales totaled 5.64 million in 2020, up 5.6% from 2019, the most since 2006 Total home sales rose 22.2% year over year from 5.53 million in December 2019The median … [Read more...] about U.S Existing Home Sales Gained 0.7% in December, 2020 Sales Highest Since 2006
