Items filtered by date: June 2020

After moving modestly higher early in the session, treasuries turned lower over the course of the trading day on Tuesday. Bond prices pulled back well off their initial highs and into negative territory. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, edged up by 1.7 basis points to 0.653 percent. The downturn by treasuries came after the Conference Board released a report showing a bigger than expected improvement in consumer confidence in the month of June.
Published in FOREX NEWS
Tuesday, 30 June 2020 22:04

Gold Futures End At Near 9-year High

Gold prices moved higher on Tuesday as uncertainty about the pace of economic recovery in the wake of growing new coronavirus cases prompted investors to seek the safe-haven asset. The dollar's retreat after a positive show, contributed as well for gold's uptick. Although the commodity saw some weak spells at times, growth concerns due to the virus impact, trade and geopolitical tensions, and the various massive stimulus programs announced by global central banks and governments continue to push gold prices higher.
Published in FOREX NEWS
Reflecting the re-opening of the economy and the recent drop in unemployment claims, the Conference Board released a report on Tuesday showing a bigger than expected improvement in U.S. consumer confidence in the month of June. The Conference Board said its consumer confidence index jumped to 98.1 in June from a downwardly revised 85.9 in May. Economists had expected the consumer confidence index to climb to 90.0 from the 86.6 originally reported for the previous month.
Published in FOREX NEWS
A report released by MNI Indicators on Tuesday showed a continued contraction in Chicago-area business activity in the month of June. MNI Indicators said its Chicago business barometer rose to 36.6 in June from 32.3 in May, but a reading below 50 still indicates a contraction in regional business activity. Economists had expected the index to jump to 45.0. The uptick by the Chicago business barometer reflected notable monthly increases by the production and new orders indexes.
Published in FOREX NEWS
Bank of England Chief Economist Andrew Haldane said recent indicators suggest that the economic recovery has been somewhat sooner and materially faster than the bank assessed in May. The alphabet that best describe the path of the economy is 'V'. "It is early days, but my reading of the evidence is so far, so V", he said. Haldane said risks to the economy remain considerable and two-sided.
Published in FOREX NEWS
Tuesday, 30 June 2020 15:44

Italy Consumer Prices Fall In June

Italy's consumer prices declined in June, data from the statistical office Istat showed on Tuesday. The consumer price index fell 0.2 percent year-on-year in June, same as seen in May. This was in line with economists' expectation. The core inflation excluding prices of energy and unprocessed food increased to 0.97 percent in June from 0.80 percent in the preceding month. On a month-on-month basis, consumer prices rose 0.1 percent in June, in line with economists' expectation.
Published in FOREX NEWS
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