Fall of April month GDP is the biggest UK saw ever. It is more than 3 times larger than last month and almost ten times larger than the pre-COVID-19 fall. The economy fell around 25% in April compared to February. Virtually all areas of the economy were hit drastically. GDP fell by 20.4%. The services [...]
The FOMC statement release supports the US economy. The Federal Reserve's target is to use its full range of tools to support the U.S. economy in this exigent time thus promoting its employment and price stability goals. The Committee will continuously monitor the implications of incoming information for the economic outlook, which includes the information [...]
Business Secretary Alok Sharma's speech on Wednesday was optimist. He stated that the number of infections has reduced and the R rate is under control. Lockdown easing was highlighted with allowing car showrooms and outdoor markets to open by June 1, retail outlets to operate from June 15th by following COVID-secure guidelines. Alok Sharma speech [...]
The improvement in the Business Confidence and Business Conditions in May highlighted by the National Australia Bank's survey released at 01:30 GMT did not impact AUD/USD positively. National Australia Bank's index of business confidence rose to -20 in May 2020 from -46 in April and compared to market consensus -32. The latest reading remained below [...]
