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 [...]
The unemployment rate of the US fell to 13.3%, down from 14.7% in April, as businesses started hiring again. Firms in the food, construction, and health care sectors started again to take staff. In total, employers added 2.5 million jobs, with the education and retail sectors also recruiting. It came as US states started rolling [...]
On Wednesday’s Bank of Canada policy meeting was a much-excepted event. The interest rates of BoC was unchanged at 0.25%. The statement noted the uncertainty on how the recovery would unfold from the corona virus impacted economy but positive notes were added that the impact of COVID-19 on the economy had peaked. There will be [...]
