Japan Core Machinery Orders Rebound 6.3% m-o-m in July
Japan’s machinery orders bounced back in July following a steep decline in the earlier month, a huge break for the Covid-19 afflicted economy but the forecast for capital outlay continued to be unclear due to volatile global business scenario. The
Read MoreRussian Ruble Falls to Near 5-Month Low
The Russian ruble lost nearly 1% to trade at about 76.12 against the greenback Monday, a level seen on April 21, pushed down by weak oil prices and geopolitical issues. The benchmark Brent crude fluctuated around 2-month low of $41.71
Read MorePound Posts Steep Decline on Brexit Concerns & Covid-19 Resurgence
The British pound traded at about $1.33 Friday, reflecting a decline of 0.5% from previous week, the largest since mid-June. The decline happened against the backdrop of worries about absence of any headway in Brexit discussions. Notably, EU’s negotiator Michel
Read MoreAustralia Succumbs to Covid-19, Posting First Recession in Three Decades
Australia’s trade surplus declined to A$4.61 billion in July, from A$8.15 billion in the earlier month and lower than Consensus estimate of A$5.40 billion. It was the smallest trade surplus since pre-pandemic February, against the backdrop of extended effect of
Read MoreUK Manufacturing Output Grows at Quickest Rate in Six Years
The euro dollar declined against the pound following the release of lower-than-anticipated Spanish and German manufacturing PMI data. The increase in the Italy unemployment rate also contributed to the weakness of the euro. The pound’s rally was also aided by
Read MoreCanadian Dollar Hits 7-Month High as Economy Gallops 6.5% m-o-m in June
The loonie rallied against the greenback to hit a seven month high of $1.304 after the recent GDP data indicated that the country’s economy expanded by a historical high 6.5% in June, rebounding further from April’s record low level of
Read MorePeso Hits Historical Low as Argentina Contemplates Joining Belt & Road Initiative
The Argentine peso fell further to breach 73.80 against the greenback, the lowest level documented, after the country’s central bank president Pesce opined that the restructuring agreement with creditors should minimize the necessity for additional currency exchange prohibitions and assist
Read MoreRussian Ruble Could Weaken Further on Geopolitical Developments & Economic Downturn
The USD/RUB rose to 1.0148 or 1.38% to close at 74.8000 Friday and there are indications that the ruble would skid further due to political developments and weak economic data. The political gridlock in Belarus is showing signs of turning
Read MoreCanadian Dollar Reverses From Seven-Month High on Weak Crude Prices
The US dollar is showing signs of recovering the lost ground against the Canadian dollar after the latter hit seven month high on reports of Chrystia Freeland, Deputy Prime Minister, being selected as the country’s finance minister replacing Bill Morneau
Read MoreWhy the British pound is Strengthening?
The British pound rallied against the green back to trade at 1.3110 levels due to betterment in risk appetite and positivity encircling the continuing Brexit discussions after the UK’s chief negotiator David Frost stated that a deal with the EU
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