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<p>Dallas Fed President Robert Kaplan said his forecast is for the US economy to have substantial contraction in Q2, in the 20% range on an annualized basis. Unemployment rate could rise to mid teens before falling back to 7-8% by year end. He added, &#8220;we are working furiously here at the Fed to have this […]

<p>Italy’s chief of the Superior Health Institute Silvio Brusaferro warned that “we haven’t reached the peak and we haven’t passed” the coronavirus pandemic. Nevertheless, there were signs of slow down in new infections, and the peak may not be far away. He added, “when the descent begins, how steep it is w

<p>US Personal income rose 0.6% in February, well above expectation of 0.3%. The increase in personal income primarily reflected increases in compensation of employees and farm proprietors’ income. Farm proprietors’ income increased USD 34.1B, which included an increase in subsidy payments associated with the Department of Agricul

<p>UK Prime Minister Boris Johnson confirmed that he had tested positive for coronavirus, a day after he appeared at the weekly Q&A session in the House of Commons chamber. “Over the last 24 hours I have developed mild symptoms and tested positive for coronavirus,” Johnson said. “I am now self-isolating, but I will cont

<p>Strong rebound in US stocks continued overnight with DOW wrapped up its strongest three-day rally since 1931. At the same time number of confirmed coronavirus cases in the US surged through China, and Italy, as the pandemic worsens. Total infections now reached 85,594, versus 81,340 as “reported” in China and 80,589 in Italy. C

<p>European stocks and US futures turn softer today, apparently on pre-weekend profit taking again. FTSE is additionally pressured, possibly as Prime Minister Boris Johnson was tested positive for coronavirus. In the currency markets, Yen regains some ground together with Swiss Franc and Dollar. Commodity currencies are mildly lower. However,

<p>Dollar is set to end the week as the week as the worst performing as corrections in the financial markets extend. Asian indices are generally higher following another day of strong close in the US overnight. Yen follows Dollar as the second weakest naturally as risk aversion eased. Meanwhile, Sterling is surprisingly the strongest one [&he

<p>As the coronavirus pandemic could very likely lead the world to recession, global central banks have rushed to inject liquidity through rate cuts another other unconventional measures. However, interest rates have already stayed at very low levels before the crisis. The room for further rate cuts is limited. Some central banks have been ad

<p>Canadian dollar traded below 70 cents this week, but don’t dust off “Northern Peso” references 2019 was an unusually quiet and stable year for the Canadian dollar. 2020 has been anything but. Canada’s currency was worth 77 US cents at the start of the year but lost 10% of its value in recent weeks, dropping […]

<p>U.S. Review Virus Shutdowns Begin to Show Up in the Data The U.S. surpassed Italy and China with the most confirmed cases of COVID-19. Europe is still the center of the storm, with the total cases in Europe’s five largest economies topping 230,000. The impact of virus-related shutdowns became readily apparent in this week’s ini