Expansion of Manufacturing Activity in Central U.S. Quickens in July Despite Surge in Cases
Manufacturing activity in the central part of the U.S. slightly accelerated its expansion pace in July despite the rise in Covid-19 infections across the region, data from a monthly survey from the Federal Reserve Bank of Kansas City showed Thursday. The Tenth District Manufacturing Survey’s composite index stood at 3 in July, slightly up from […]
Rising Brexit Risks for British Pound as the UK and EU failing to reach trade deal
Sterling could rise if the U.K. secures a barebones trade deal for goods with the EU by the end of the year, potentially taking it to $1.35, from its current level of $1.2647, Capital Economics says. “The latest rebound in investors’ net futures positions suggests that the market hasn’t completely written off a deal being done,” Capital Economists economist Paul Dales says. “We still expect there to be a slim trade deal that prevents a major step change in the U.K.- EU trading relationship at the end of the year.” Volatility in sterling is unlikely to ease further this year as the currency reacts to the “ebb and flow” of Brexit negotiations, he says.
White House Executive Mansion decorates portraits of president McKinley and Roosevelt
Trump’s Fed Nominations Advance but Questions Remain About Judy Shelton The White House recently placed two portraits of former presidents William McKinley and Theodore Roosevelt prominently in the entrance of the executive mansion while relegating those of more recent chief executives, George W. Bush and Bill Clinton, to a small, rarely used room. At the […]