Year: 2020

The Chinese government announced on Thursday that it will cut tariffs against more than 1700 US goods in half, in order to comply with what was agreed in “phase 1” of the trade deal. The Chinese finance ministry stated during an announcement that from February 14 tariffs will be cut […]

An unexpectedly improved reading of the UK’s January PMI for the services sector helped to boost the Pound Sterling during London trading on Wednesday. Earlier today, Markit reported a reading of 53.9 against analysts’ expectations of a flat reading of 52.9. Yesterday, Markit had reported an upbeat PMI for the […]

IHS Markit recently released its services and composite PMI data for the Eurozone. The data shows a firm but slower expansion in the Eurozone services sector, followed by an improving private sector activity. IHS Markit’s composite PMI for January was at 51.3 after being at 50.9 in December. This positive […]

A record 65 people died in China from the coronavirus on Tuesday, but that didn’t send traders flocking towards safe haven assets as they had in the earlier days of the virus. Instead, as reports surfaced that the virus is 99 percent contained within China’s borders, traders favored riskier assets, […]

Earlier today, upbeat data had helped to push the Pound higher, though analysts believe that it just a knee-jerk reaction. Markit reported that the UK’s January PMI for the construction sector was unexpectedly improved with a reading of 48.4 against an expected reading of 46.6; the previous reading was at […]

IHS Markit’s UK Construction PMI went up to 48.4 last month, after being at 44.4 in December, showing a slower pace of contraction and a recovering sector. The figure shows how both home building and commercial activity related to the sector went down at a slower pace from the previous […]

Global stock markets were broadly higher on Tuesday afternoon in Asia as Chinese government officials worked hard to quell the panic that has been rising worldwide surrounding the coronavirus which has now killed close to 500 people in just over a month. South Korea’s Kospi lead the gains, surging 1.76 […]

The Pound Sterling was sharply lower during London trading on Monday after the Prime Minister set out what some are calling tough terms for the upcoming talks between the UK and EU. That has rekindled concerns that Britain could conclude the transition period without a workable trade agreement. Boris Johnson […]

The European Central Bank’s chief economist Philip Lane stated that rising labor costs will eventually affect the Eurozone inflation levels moving it closer to the bank’s 2 percent target. “The fraction of the price level which is most likely to be influenced by wage pressures is moving closer toward the […]

Oil markets reacted negatively to the news coming out of China regarding the spread and the consequences of the Coronavirus outbreak. According to recent data, Chinese economic activity is currently being affected by the epidemic. Factor activity kept steady in January while export orders fell. Besides what we’ve already mentioned […]