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GDP expanded +3.2% y/y in 2Q20, beating consensus of +2.4%. From a quarter ago, the expanded jumped+11.5%. Concerning major macroeconomic indicators in June, industrial production (IP) rose +4.8% y/y in June, in line with expectations and accelerating from +4.4% in May. Urban fixed asset investment (FAI) declined -3.1% y/y in the first half of the

This has been out for an hour or so, it got overtaken by the twitter hack  Oxford scientists believe they have made a breakthrough in their quest for a Covid-19 vaccine discovering that the jab triggers a response that may offer a “double defence” against the virus The article is gated but, in brief,  Phase

LONDON/DUBAI/MOSCOW: OPEC and allies such as Russia will ease record oil supply curbs from August as the global economy slowly recovers from the coronavirus pandemic, Saudi energy minister Prince Abdulaziz bin Salman said on Wednesday. The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, have been cutting output since May by

Markets are in strong risk-on mode again on coronavirus vaccine hopes. Moderna group said earlier that the vaccine candidate produced a robust immune system response in a large group of people. Next will be a decisive clinical trial in July. Major indices in Asia and Europe record strong gains, except China and Hong Kong. DOW

Comments by Swedish prime minister, Stefan Löfven He reaffirms that that is their view on the matter and that isn’t quite something reassuring following Dutch prime minister Rutte’s remarks yesterday that he was ‘pessimistic’ about a compromise being reached this weekend on the recovery fund. At this stage, Spain and Italy are seemingly on board with

LONDON/DUBAI: OPEC and allies such as Russia meet on Wednesday to decide oil output policy from August amid broad market expectations the group will ease supply curbs as the global economy slowly recovers from the coronavirus pandemic. The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, have been cutting output since May

Risk-on trades dominated the US markets overnight, as Fed officials indicated the willingness to keep accommodative measures in place. Yet, sentiments turned mixed in Asian markets. Hong Kong and Chinese stocks are weighed down by US President Donald Trump’s decision to end Hong Kong’s special status, after China imposed national security law by passing the

A legislative order to hold China accountable for its action Hong Kong  Trump says Hong Kong’s peoples’ freedom has been taken away    HK to be now treated like mainland China  Trump adds that he holds China fully responsible for concealing the virus and unleashing it on the world.  For bank trade ideas, check out

Gold prices inched up on Tuesday, rising above the $1,800 level, underpinned by concerns over mounting coronavirus cases globally and as many regions reintroduced curbs to restrict the outbreak. Spot gold rose 0.2% to $1,805.83 per ounce by 10:42 am EDT (1442 GMT). U.S. gold futures fell 0.2% to $1,810.20. “We are still bullish on

Risk sentiments continues to be weak today but selloff in the stock markets is so far limited. Euro rides on the indecisive markets and surges broadly today, with help by strong rally against Sterling. Swiss Franc is following as the second strongest so far. On the other hand, New Zealand Dollar is the worst performing

ZEW with some remarks accompanying the earlier survey After a very poor Q2, experts expect to see gradual increase in GDP in 2H 2020 The headline refers to the expectations reading in the survey earlier, after some budding optimism seen in the earlier months. This pretty much sums up economic sentiment at the moment within

LONDON: Oil prices fell on Tuesday on worries that new restrictions to stem surging US and Asian coronavirus cases could threaten a recovery in fuel demand just as OPEC+ producers prepare to increase output from August. Brent crude futures fell 44 cents to $42.28 a barrel by 0840 GMT and US West Texas Intermediate (WTI)

Sentiments seemed to have a turn as surge of coronavirus cases in the US pushed California back into lockdown. Asian markets are under some selling pressure. But the more indicative development was the sharp -2.13% decline in NASDAQ overnight. It remains to be seen if tech index is finally giving up its resilience as investors

A Bloomberg video interview with Credit Agricole head of G10 FX research and strategy at Credit Agricole While we await Asian markets getting a little more active for the session, a quick watch if you are interested: If the vid does not work, link here to page For bank trade ideas, check out eFX Plus

LONDON/DUBAI: The oil market is getting closer to balance as demand gradually rises, OPEC‘s secretary general said on Monday, two days before the group and ally Russia meet to decide whether to ease output curbs from August. The Organization of the Petroleum Exporting Countries and allies, known as OPEC+, have been cutting output since May

Risk appetite is generally firm today with European indices trading in black while US stocks also open higher. Rebound in oil prices help push Canadian Dollar to be the strongest one today, followed by Australian. On the other hand, Yen and Swiss Franc are generally weakest. Though, it’s a surprise that Sterling is among the

Reaffirms that Germany’s recovery process is just beginning Industrial production has passed its lowest point Increase in received orders indicates output will pick up in the coming months But risks exist particularly in very slack demand from outside the euro area There will be GDP growth from Q3 onwards A positive takeaway from the comments

LONDON: Oil prices dropped on Monday on big spikes in COVID-19 infections over the weekend in the United States and elsewhere while traders await an OPEC technical meeting expected to recommend an easing of supply cuts. Brent crude fell 65 cents, or 1.5 per cent, to $42.59 a barrel by 0848 GMT, though prices have