India is working on a stimulus package that would drive recovery after a surge in COVID-19 cases that made the country a hotspot, according to Bloomberg. The package being prepared by the finance ministry covers tourism, aviation and hospitality industries, and small and medium-sized firms.Talks are still at the early stages and a timeframe has yet to be set. Officials have … [Read more...] about India Readies Stimulus Package To Boost Economic Growth
Forex News
Germany Opens 2021 With 3.4% Economic Slump
Germany opened 2021 with an economic contraction in the first three months as lockdown restrictions marked household spending, the Federal Statistics Office reported. The price-adjusted gross domestic product (GDP) shrank by 3.4% in the first quarter of the year versus the same period in 2020. The price- and calendar-adjusted GDP was down 3.1%.GDP contracted by 1.8% … [Read more...] about Germany Opens 2021 With 3.4% Economic Slump
China’s Heavyweight Index Climbs To Two-Month High As Foreign Investors Gobble Up Consumer Stocks
China's stock index barometer CSI 300 posted its highest daily gain since July on Monday as overseas players gobbled up shares. The CSI 300 Index gained 3.2% to mark its strongest showing in over two months since early March.Overseas investors bought a record 21.7 billion yuan or $3.4 billion worth of A shares through Hong Kong links.Investors piled into consumer stocks … [Read more...] about China’s Heavyweight Index Climbs To Two-Month High As Foreign Investors Gobble Up Consumer Stocks
USD/CHF: Dollar Loses as Switzerland Prepares for Phase 4 Reopening
The sale of existing homes in the US declined 2.7% in April 2021. Switzerland is experiencing a surge in EV sales into 2021. Switzerland’s vaccination rate is at 23% of the population as it prepares for phase 4 reopening. The USD/CHF traded at -0.59% in the week leading to May 21, 2021, after April 2021 data that showed a decline in the existing US home … [Read more...] about USD/CHF: Dollar Loses as Switzerland Prepares for Phase 4 Reopening
Oil Prices Hit $80 per Barrel as Demand Climbs in Advanced Economies
Oil prices are likely to hit $80 per barrel in the last quarter of the year in line with the expected rebound in demand, Reuters reported. Global investment firm Goldman Sachs believes demand will reach 4.6 million barrels per day by the end-2021, with most gains within the next quarter.Demand will be driven by increased mobility in the United States and Europe as more … [Read more...] about Oil Prices Hit $80 per Barrel as Demand Climbs in Advanced Economies
