Global stock markets took a battering last week. Investors finally woke up to the resurgence of COVID infections in Europe and the series of national lockdowns. British Prime Minister Boris Johnson announced a one-month lockdown over the weekend. The U.K.’s lockdown adds to those already in place in the other parts of the U.K. and […]
Category: Macroeconomics
Renminbi gains strength against the U.S. dollar
For buyers purchasing goods and materials from China, an unwelcome trend over the summer has been gradual gains in the Renminbi’s (RMB) strength. We’re offering timely emails with exclusive analyst commentary and some best practice advice – and you choose how often you receive it. Sign up today. RMB gains against the dollar The Chinese […]
India’s economy struggles as coronavirus cases rise
India faces a dilemma — the country has the second-highest coronavirus caseload in the world at 4.2 million people and its economy is struggling. India overtook Brazil this week, as it reported a record 90,000+ new cases on Saturday and nearly 92,000 on Sunday. Yet, despite surging infections, India desperately needs to get its economy […]
India struggles with the double whammy of a pandemic, economic shock
The COVID-19 pandemic has had a significant impact on the Indian economy, as detailed by the Financial Times in an article covering the country’s response to the challenges posed by the pandemic. Want MetalMiner directly in your inbox? Sign up for weekly, monthly or quarterly updates now. Q2 contractions for India, other large economies India’s […]
China may be doing the heavy lifting for metals price support — but the legs are looking shaky
True to form, if not to scale, Beijing resorted to infrastructure spending this quarter to support the economy as it sought to pull the country out of government-imposed lockdowns in the first quarter.
‘A crisis like no other’: IMF revises 2020 global growth forecast down to -4.9%
The International Monetary Fund’s (IMF) most recently updated global growth forecast is gloomier than the last. The IMF forecast global growth of -4.9% for 2020, down from the -3.0% forecast previously released in April.
Fed: U.S. industrial production rises 1.4% in May as automakers restart production
While positive coronavirus cases are on the rise in several parts of the country, industrial production bounced back in May after posting the largest monthly drop in the history of the Federal Reserve’s industrial production index in April.
OECD forecasts dismal times ahead for the U.K. economy
Having topped the European league tables with the highest number of infections and deaths due to the coronavirus pandemic, the U.K. looks set to top the recession league table, according to a recent report by the Organization for Economic Cooperation and Development (OECD).
This Morning in Metals: Federal Reserve maintains federal funds rate at 0-0.25%
This morning in metals news, the Federal Reserve on Wednesday opted to maintain the federal fund interest rate at 0-0.25%, the Producer Price Index for final demand rose 0.4% in May and Chinese rebar futures fell Thursday.
Greater than 6% growth could prove difficult for China to achieve ever again
Can China ever record economic growth greater than 6%? We don’t know, but if I were a betting man I’d say not. After contracting some 6.8% in the first quarter of this year, estimates vary with respect to what China’s GDP growth will be for 2020 in total. CRU expects between 2-3%, according to a […]
