Year: 2020

The Chinese government said on Tuesday that it will remove tariffs of over 696 products from the United States, like soybeans, pork, crude oil, among others. According to China, the tariff exemptions for qualified US products will be effective for one year. This new measure is part of the recently […]

Though higher currently, the Euro held close to a 3-year trough during the Monday trading session in London on investor concerns about slowing regional growth. Given the quiet on the economic calendar for the day, FX traders will be looking at tomorrow’s release of the ZEW Survey for Germany, an […]

According to data released by the Japanese government, the Japanese GDP contracted at its faster pace in six years. The Japanese gross domestic product went down by 6.3 percent in the last quarter of 2019, the biggest contraction since the second quarter of 2014, against the analyst’s expectations, who foresaw […]

China’s central bank cut interest rates on medium term loans on Monday, an effort to offer support to businesses whose activity has been disrupted or halted completely by coronavirus contagion concerns. The announcement sent Chinese benchmarks higher, where they hovered near a three-week peak. Also increasing optimism in the markets […]

The Japanese Yen was able to keep earlier gains versus the greenback during Asian trade on Friday on growing concerns over the spread of the Coronavirus. Riskier assets were weighed down by those worries, as well, and dismal data from the Eurozone tanked the Euro and kept trader sentiment firmly […]

Safe haven demand has increased significantly after a sharp increase in Coronavirus cases was reported. A new diagnostic methodology indicated that there are nearly 15,000 new cases reported today, up from the 1,638 reported on Tuesday. Higher risk assets, especially those tied to the fortunes of the Chinese economy, namely […]

The U.S. Trade Secretary Steven Mnuchin insisted that Trump’s tax cuts will pay for themselves over a 10-year period, even considering that the near-term deficit is expected to reach the 1 trillion level. “Our analysis has always been higher than CBO. As I’ve said previously, we believe that the tax […]

Gold futures have been declining steadily in recent sessions, but they finally ticket higher on Thursday after reports out of the Hubei province in China showed a dramatic spike in the death toll due to the coronavirus. 242 people died on Wednesday, more than doubling the highest death count until […]

The US Dollar was broadly higher on Wednesday as hopes that the coronavirus threat is subsiding. In China, though more than 2,000 new cases were confirmed yesterday, the daily rise was at its lowest level since January 30th, giving hope that the spread may have peaked. That helped to improve […]

In his first day of his two-day testimony before Congress, Federal Reserve Chairman Jerome Powell told U.S. lawmakers that the U.S. economy is in a “good place”. Powell’s comments were well-placed despite persistent global economic uncertainty – the U.S. economy is in its longest period of economic expansion on record, […]