FxWirePro: Asian markets extremely down, gold hovers around $1,700 mark

May 04, 2020 05:52 am UTC| Commentary

All the major Asian indices were trading on a lower note on Monday. Gold was trading around $1,698 mark while silver was trading around $14.87 mark. Australias SP/ASX200 was trading 1.50 pct higher at 5,324.80...

U.S. ISM manufacturing index likely to have dropped further to 35 in April

Apr 30, 2020 18:49 pm UTC| Commentary

The U.S. ISM manufacturing index data for the month of April is set to release tomorrow. According to a TD Economics research report, the index is likely to have dropped sharply 35 in April from Marchs 49.1. The March...

ECB surprisingly eases monetary policy further, cuts interest rate on TLTRO III by 25 bps

Apr 30, 2020 18:03 pm UTC| Commentary Central Banks

The ECB surprisingly eased its monetary policy further today. The central bank cut the interest rate on its targeted longer-term refinancing operations (TLTRO III) by 25 basis points. Therefore, the interest rate for banks...

U.S. weekly initial jobless claims fall, but remain high

Apr 30, 2020 17:07 pm UTC| Commentary

U.S. initial jobless claims dropped by 603,000 to 3.9 million for the week ended 25th April. Even if the jobless claims fell for a third week, the number was slightly above market expectations of 3.5 million. Continuing...

U.S. personal income and spending shrink sharply in March, likely to decline further in April

Apr 30, 2020 16:23 pm UTC| Commentary

U.S. personal income shrank 2 percent sequentially in March, coming in weaker than market expectations of -1.5 percent. This was driven by a 2.8 percent fall in compensation as measures to contained COVID-19 resulted in...

Canadian economic growth remains unchanged in February

Apr 30, 2020 13:42 pm UTC| Commentary

Canadas economic growth remained the same in February, as compared with consensus expectations of a growth of 0.1 percent. Most of the weakness for the February data is because of disruptions in two main sectors. In...

Euro area GDP growth contracts in Q1 2020, likely to fall more sharply in Q2

Apr 30, 2020 13:13 pm UTC| Commentary

The preliminary flash estimate of euro areas real GDP for the first quarter showed that the economic growth contracted 3.8 percent, as compared with the fourth quarter of 2019. Todays data is consistent with consensus...