News | Forex Optimum



USD: recent surge in new COVID cases alarming - BofA

eFXdata reports that Bank of America Global Research warns that the number of new covid-19 cases is climbing at an alarming rate across a majority of the US.

"Since our last update, new virus cases in the US have continued to rise and indicators of economic activity appear to be moderating.. Hospitalizations and deaths have also started to trend higher," BofA notes. 

"With the economic data pointing to a moderation in activity, we remain very concerned that the recent surge in new virus cases will hinder the economic recovery. Moreover, we fear that states that have experienced relatively stronger economic recoveries are those currently experiencing the most severe virus outbreak . This could lead to an increase in voluntary social distancing in these states or government mandated measures to restrict activity," BofA adds. 

You may also be interested:

18:57 02.12.2020
Gold: Outflows in ETFs key driver behind the November sell-off - Commerzbank
FXStreet reports that in the view of Carsten Fritsch, Precious Metals Analyst at Commerzbank, outflows in the gold-backed exchange-traded funds (ETFs) in November was the main driver behind the metal’s fall.“The gold market saw continued selling pressure last month as investor sentiment was boosted by news of three potential vaccines for the COVID-19 virus.”“Gold-backed exchange-traded funds (ETFs) have been the key driver behind gold's disappointing price action.” "News
18:44 02.12.2020
Dallas Fed president Kaplan: Guidance will be needed on asset purchases - WSJ
Fed's officials need "start thinking about how we want to begin to taper or communicate the composition and the size of our asset purchases"Broader changes and altering those purchases right now not needed
18:36 02.12.2020
EIA’s report reveals smaller-than-forecast drop in U.S. crude oil inventories
The U.S. Energy Information Administration (EIA) revealed on Wednesday that crude inventories decreased by 0.679 million barrels in the week ended November 27. Economists had forecast a decline of 2.358 million barrels.At the same time, gasoline stocks rose by 3.491 million barrels, while analysts had expected a gain of 2.386 million barrels. Distillate stocks advanced by 3.238 million barrels, while analysts had forecast a decrease of 0.209 million barrels.Meanwhile, oil production in
Bonuses VIP