The White House has been pushing a V-shaped recovery narrative that is not reflected in current data. One big sticking point is the rescue package being negotiated in Congress. Lack of new funding could further stunt activity. “Dreams of a V-shaped recovery are long gone,” said Beth Ann Bovino, U.S. chief economist for S&P Global. […]

Minneapolis Fed President Neel Kashkari is advocating a full economic shutdown for up to six weeks to halt the Covid-19 spread. In a Friday New York Times op-ed he authored with Michael T. Osterholm of the University of Minnesota, Kashkari said the initial March lockdown didn’t go far enough. “To be effective, the lockdown has to be […]

The dollar steadied on Friday as a jump in U.S. bond yields and a drag on sentiment from lackluster Chinese economic data put the brakes on a selldown of the world’s reserve currency. China’s retail sales unexpectedly extended their fall into a seventh month in July and industrial output missed expectations – suggesting bumps in […]

The continuing spread of the coronavirus is likely to put a damper on consumer sentiment, Chicago Federal Reserve Bank President Charles Evans said on Thursday. Additional takeaways “Controlling virus, wearing masks is important to getting consumers feeling comfortable.” “Baseline outlook is for US economy to shrink 30% to 35% in the second quarter with strong growth in […]

The US presidential election is in its deceptive summer phase.  Joe Biden has a commanding lead over Donald Trump in the polls but it is an advantage that is unlikely to last as the campaign is fully joined by both sides. Traditionally the contest starts with the nominating conventions in late August but interest and coverage are already […]

The bleak outlook for the labour market implies there is a strong case for measures to boost consumer spending in order to keep the recovery on track. A host of instruments can be considered: vouchers, VAT rate cuts, income tax cuts, tax credits, negative income taxes. Amongst these, a voucher programme offers many advantages given […]

The euro has pulled back against the pound this week to put an end to the three-week rally seen earlier in June. The Rabobank FX Analysis Team, however, remains bullish on the euro expecting the uptrend to resume, aiming to 0.9200. Key quotes “The long-anticipated re-opening of England’s hospitality sector and other service-related businesses on July 4 has been […]

GBP/JPY flat around 134.00 after Thursday’s reversal from 134.70. Brexit uncertainty and UK’s downbeat economic outlook are weighing on GBP. Support at 133.70 keeps the near-term positive tone. The pound has remained trading sideways around 134.00 on Monday, with bearish attempts contained at 133.70 after Thursday’s reversal from two-week highs at 134.70. Brexit uncertainty remains weighing […]

AUD/USD looks to end second straight week in positive territory. Market action remains subdued due to Independence Day holiday in US. Reserve Bank of Australia (RBA) will announce policy rate decision next Tuesday. The upbeat macroeconomic data releases from Australia and China this week helped the AUD gather strength against its rivals. After starting the […]

Real Time Economic Calendar provided by Investing.com.