Congress Passes Covid-19 Relief, Spending Package With Overwhelming
WASHINGTON — Congress overwhelmingly approved $900 billion of relief for households and businesses battered by the coronavirus pandemic, passing an emergency measure aimed at buoying the country through a difficult winter and into a new year. The bill now heads to the White House, where President Trump is expected to sign it into law. Both […]
Asia Leads the World in Covid-19 Economic Recovery – ‘The Zoom Boom’
SEOUL — Asian economies are emerging as clear winners in the race to a full recovery, aided by demand from Western shoppers and success in containing Covid-19, which has helped the region keep its factories humming. China remains on track to grow nearly 2% this year, the most of any major economy, while the world […]
Japan’s Job Conditions May Worsen Further as EUR/USD Regains 1.1800 Level
Job conditions in Japan are likely to worsen further as the economy struggles to recover from the Covid-19 pandemic, which followed a slump caused by consumption tax increase in October 2019, SMBC Nikko Securities says. Deteriorating jobs conditions aren’t fully reflected in the jobless rate as some workers are asked to cut working hours, the […]
What’s in focus for Aug. 24 – 28 on Politics, Economy, Covid and the FED
This week, the highest impact economic events will be the Republican National Conference starting on Monday, the August IFO survey for Germany on Tuesday, and the Federal Reserve Chair Jay Powell speaking at the Jackson Hole Symposium on Thursday. Powell’s speech, which will reveal the findings of the Fed’s long-running review on monetary policy, is expected to be the marquee event of the week. Powell is expected to guide inflation expectations higher while keeping nominal yields anchored, but traders will be keen to see how close they are to moving to a more defined forward guidance, and specifically the appetite to move sooner to average inflation targeting.
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 […]
Covid-19 May Keep Developing Countries From Catching Up Economic Big Leagues
Even before the pandemic, developing countries struggled to sustain the high growth rates of a decade ago that had promised to catapult them into the economic big leagues. The coronavirus is making their path much rockier, potentially entrenching the divide between the world’s rich and poorer parts. In the first decade of the 21st century, […]