Canadian Factory Sales Climb By Record 20.7% in June – Statistics Canada
OTTAWA–Canadian manufacturing sales surged in June, posting a record performance, as factories revved up production following a pandemic-induced plunge. Still, shipments remain well below pre-pandemic levels, and the outlook is clouded by a slowdown in the U.S.–Canada’s biggest export market–as some jurisdictions grapple with a rise in confirmed cases of Covid-19. Manufacturing sales rose 20.7% […]
The latest Market Talks covering President Donald Trump and U.S. politics
The U.S. dollar could find some support from August seasonality, which tends to favor the currency, while profit-taking could keep the currency from weakening further in the short term, says Bank of America. Yet a recovery is not in sight, with market positioning showing that investors are still betting the dollar will fall. The failure […]
China to Expand Testing of a Digital Currency – PBOC
HONG KONG–China’s Commerce Ministry said it would expand a pilot program for its digital currency to include a number of large cities, advancing a pioneering initiative by a major central bank to launch an electronic payment system. The digital currency pilot program will cover much of China’s most prosperous regions, the Commerce Ministry said Friday: […]
Australia Monetary Policy at Full Throttle, RBA Governor Says
SYDNEY–Reserve Bank of Australia Gov. Philip Lowe said Friday that monetary policy is at, or close to being at full throttle, adding that government spending and structural reforms are needed now to fight off the economic downturn brought on by the Covid-19 pandemic. Speaking before a parliamentary committee on economics, Mr. Lowe said monetary policy […]