Concerns that the anticipated coronavirus stimulus will not be quickly forthcoming sends global markets lower.
Stock Markets Lower as U.S. Stimulus Hopes Decline; Poor Earnings Data Hits Banks; Record New Coronavirus Cases Reported Yesterday
The Pound Sterling recovered after earlier feeling some broad pressure during the London trade on Wednesday as FX traders gauge the likelihood that a deal will have been made for the Brexit before the Thursday deadline.
The Japanese Ministry of Economy, Trade, and Industry recently reported that industrial production dropped by 13.8 percent in August (year-to-year), worse than July's figure, which stood at -13.3 percent and worse than what the surveyed analysts expected, who foresaw it to drop by 13.3 percent.
Stock Markets Fall Moderately as U.S. Stimulus Out of Reach; European Currencies Weaker
Though lower currently, the Pound Sterling remains just above the key $1.30 level as FX traders focus squarely on details of the Brexit discussions as the short-term driver.
The United Kingdom's Office for National Statistics recently reported that the Unemployment Rate from June through August 2020 stood at 4.5 percent, after being at 4.1 percent between May and July.
Stock Markets Rise But Pull Back; Mana Contracts Second Coronavirus Case After Recovering
Sterling inched lower versus its US counterpart as markets await news of more restrictions and lockdown measures in an effort to halt the resurgence of the Coronavirus in the UK.
Oil prices surged some 10 percent last week, largely due to the devastation of Hurricane Delta which slammed into the Gulf of Mexico and caused disruptions in production in the region.
Little Chance of U.S. Stimulus Agreement; Chinese Yuan Weakens; Daily New Coronavirus Cases Hit All-Time High
The greenback was broadly lower as market players wait to see if there is any positive news regarding a second round of stimulus from the federal government.
The Pound sterling moved higher during London trade today as a Brexit deal seems to finally be lining up.
According to data released by the Federal Statistical Office of Germany, German exports increased more than expected in August,
President Trump Indicates Partial Stimulus Agreement Possible; Stock Markets Higher; Daily New Coronavirus Cases Hit All-Time High