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<p>French Finance Minister Bruno Le Maire said the country’s economy is set to contract -8% this year, instead of -6% as mentioned just last week. Coronavirus lockdown was originally planned to end today, but was delayed to at least May 11. To help the economy, Le Maire said the government expects to spend around EUR […]

<p>In March, in USD term, China’s exports dropped -6.6% yoy to USD 185.2B. Imports dropped -0.9% yoy to USD 165.3B. Trade surplus came in at USD 19.9B. From January to March accumulative, exports dropped -13.3% ytd/y to USD 478.2B. Imports dropped -2.9% ytd/y to 465.0B. Trade surplus came in at just USD 13.2B. Also year-to-March, [&hell

<p>Australia NAB Business Confidence dropped to -66 in March, down from -2. That’s record low, even worse than the reading during 2008 global financial crisis and early 90s recession. Business Conditions dropped to -21, down from 0. While condition index was slightly worse than the reading at financial crisis, it sit well above the trou

<p>New Zealand Treasury published a report analyzing the economic impacts of the coronavirus pandemic. Assuming no additional fiscal measures beyond the announced NZD 20B direct support, contraction in GDP in the year to March 2021 could range from 13% (the least restrictive scenario), to closer to one-third (with tight restriction through th

<p>Gold surged to new 7-year high as lifted by broad based weakness in Dollar. The correction from 1703.28 has completed early than expected at 1451.16. Break of this resistance confirms up trend resumption. Outlook will stay bullish as long as 1644.67 resistance turned support holds. Next upside target is 100% projection of 1451.16 to 1644.6

<p>WTI crude oil are trading in tight range below 30 as traders are unimpressed by the OPEC+ deal on production cut. On Sunday, the OPEC+ group, agreed to cut output by 9.7 million barrels per day in both May and June. That’s around 10% of global supply before coronavirus pandemic. Together with other producers including […]

<p>Dollar&#8217;s decline continues today on improving risk sentiments. In particular, it&#8217;s back under pressure against Euro and Swiss Franc despite earlier recovery attempt. Canadian Dollar is not far away with drag from weakening oil price. On the other hand, European majors are generally stronger today, partly with help from

<p>Dollar is staying under pressure as traders are back from holidays. Risk sentiment is relatively steady with new global coronavirus cases and deaths starting to trend down. The improvements are particularly evident in Spain and Italy since the start of April. There is also hope that the worst is over in the US and the […]

<p>Having cut the policy three times and announced QE program in March, BOC will likely keep the powder at the April meeting. Policymakers will explain the rationale of the stimulus measures, reinforcing that the policies are essential to containing the sharp slowdown in the first quarter. Recent economic data suggest that Canada’s economy is

Comments by Minneapolis Fed president, Neel Kashkari ForexLive