GBP/USD Rally May Have Peaked, Eurozone’s Outlook & USD Weakness

Sterling’s surge to pre-Covid-19 highs against the U.S. dollar Wednesday, when GBP/USD hit 1.3268 according to FactSet, may not happen again, says ABN Amro. The Dutch bank expects GBP/USD to fall as investors switch to a greater focus on Brexit uncertainty and weaker U.K. data, combined with a less negative sentiment towards the dollar, says […]

Strong Eurozone Retail Sales Gives Optimism, EU Region recovering to pre-crisis level

Eurozone retail sales for June came in strong, giving fresh evidence that the region is on track for a rebound. Meanwhile, Spanish and Italian services purchasing managers’ data improved in July, though they still lag those of Germany and France, raising fears of a two-speed recovery. The following is a selection of analysts’ comments. The […]

Eurozone Economic Sentiment Improves But Consumers Wary

Economic sentiment rises further but there are concerns about unemployment risks and consumer spending looks fragile. The following is a selection of analysts’ comments. The euro extends losses against the dollar after eurozone data showed the unemployment rate rose in June and consumer confidence deteriorated in July. The eurozone unemployment rate climbed to 7.8% in […]

EU Countries Sanction China Over Hong Kong Security Law

BRUSSELS — The European Union Tuesday imposed sanctions on China over its treatment of Hong Kong, inching the bloc closer to the Trump administration’s more hawkish stance toward Beijing. The new sanctions, which are limited in scope, come on the same day as EU and Chinese officials held a round of talks on a long-discussed […]

Eurozone PMI Confirms Strong Economic Recovery

Eurozone purchasing managers’ indexes rose above the critical 50 threshold in July, confirming that the eurozone economic recovery continues at a decent pace. However, economists expect the recovery to lose steam after the initial rebound driven by the reopening of economies. The following is a selection of analysts’ comments. Eurozone purchasing managers’ indexes confirmed earlier […]