President Trump signs pandemic aid and spending bill
US President Trump signed $2.3 trillion pandemic aid package that was approved by the Congress last week, averting at the last minute a federal government shutdown and restoring unemployment benefits to millions of Americans.
Trump…
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The US economy grew at a record pace in Q3 but the outlook for Q4 is not so bright
The US Gross Domestic Product rose by 33.4% in the third quarter, in rebound from Q2 31.4% contraction, the deepest drop in record.
Record pace of recovery was fueled by a massive $3 trillion pandemic relief but appears to have lost…
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New lockdown further weakens German consumer morale
German consumer morale fell for a third straight month into January, as new lockdown on surging coronavirus infections reduced income expectations and increased tendency to save.
The Gfk institute’s consumer sentiment index fell to -7.3…
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UK economy expanded above expectations in Q3
Britain’s economy grew by record 16% in the July-September period, showing slightly faster than expected recovery from coronavirus crash.
Slightly better than expected better growth in gross domestic product – 16% vs an estimate of 15.5%…
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Aussie rebounds after sharp fall but the downside to remain vulnerable below 10DMA
Fresh risk bounce lifts Aussie above 0.75 mark in US trading, following sharp fall on risk aversion over new virus fears earlier today that dipped to 1 ½ week low at 0.7462 (contained by rising 20DMA).
Rebound eases downside pressure, with…
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Oil prices tumble over $3 on growing virus fears
WTI oil price fell over $3 in early Monday’s trading, hitting one-week low, as new fast-spreading coronavirus strain that has shut down Britain and tightened restrictive measure in Europe, revived fears of slowdown in global demand…
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Euro spirals lower as new virus fears sour risk sentiment
Fresh virus fears knocked risk sentiment and sent Euro sharply lower on Monday.
Pullback from new 2 ½ year high (1.2272) so far retraced nearly 61.8% of 1.2058/1.2272 upleg and broke strong support at 1.2158 (10DMA).
Steep fall of 14-d…
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Sterling crashes on new Covid-19 strain panic
British pound opened with 130-pips gap lower vs US dollar and collapsed 250 pips in early Monday’s trading, in a panic reaction on fears about a new strain of coronavirus.
The UK was on Monday shut off from much of Europe, as well as…
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US Congress reaches deal on new coronavirus aid package
After months of contentious debate, the US Congress eventually reached agreement on new aid package worth $900 billion, to support an economy and individuals, hit by surging Covid-19 pandemic.
The second-largest economic stimulus in US…
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Crude oil is set for seventh straight weekly gain; vaccine hopes, drop in crude stocks underpin
WTI oil is set to resume rally after narrow consolidation just under new multi-month high on Friday and on track for the seventh straight week of gains.
Strong bullish sentiment is boosted by vaccine hopes as more countries give green…
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