Bank of England Reports Published in July 2020
Bank Liabilities Survey – 2020 Q2 – Read the report
This quarterly survey of banks and building societies is aimed at improving the understanding of the role of lenders’ liabilities and capital in driving credit and monetary conditions.
Asset Purchase Facility Quarterly Report – 2020 Q2 – Read the report
A quarterly report on the transactions carried out as part of the Asset Purchase Facility. The reports are published shortly after the end of each quarter.
Credit Conditions Survey – 2020 Q2 – Read the report
This quarterly survey of banks and building societies is aimed at improving our understanding of trends and developments in credit conditions.
Coronavirus: UK Economy ‘Might Not Recover Until 2024’
From: The BBC
The UK economy could take until 2024 to return to the size it was before the coronavirus lockdown, according to analysis from the EY Item Club.
The forecasters, who use a similar economic model to the Treasury, suggest unemployment will rise to 9% from 3.9%.
Dollar Pushed Cautiously Higher
From: Daily FX
The US Dollar recovered from a recently struck 2-year trough ahead of an upcoming policy meeting of the US Federal Reserve.
The federal government is still trying to work out their differences for the next fiscal rescue package, intended to help provide some relief from those financially impacted by the Covid-19 pandemic that continues to ravage the US.
Pound Eases Back as Brexit Worries Grow
From: Daily Forex
The Pound Sterling eased back and away from the recently struck 1 ½ month peak as worries escalate around a no-Deal Brexit.
Analysts say that the government’s efforts to work out a deal have recently taken a backseat to the repercussions of the Coronavirus pandemic.
Euro Nears 2-year High; Aussie, Kiwi up as Risk Appetite Grows
The euro strengthened to its highest in nearly two years against the dollar, while commodity currencies gained as risk-on moves continue in the wake of a fiscal stimulus deal reached by European Union leaders on Tuesday.
Currency traders largely shrugged off U.S.-China tensions, although risk appetite in currency markets briefly diminished for about two hours, after the United States told China to close its consulate in Houston amid spying accusations, the latest example of worsening relations between the two countries.
German Economy Shrinks at Record Pace in ‘Recession of a Century’
The German economy contracted at its steepest rate on record in the second quarter as consumer spending, company investment and exports all collapsed during the peak of the COVID-19 pandemic, wiping out nearly 10 years of growth.
The Federal Statistics Office said gross domestic output in Europe’s largest economy shrank by 10.1% quarter-on-quarter from April to June after a revised 2.0% contraction in the first three months of the year.
FX Rates in July
Jul High: 1.1175
Jul Low: 1.0947
Jul End: 1.1044
Jul High: 1.3129
Jul Low: 1.2375
Jul End: 1.3129
Jul High: 1.1884
Jul Low: 1.1226
Jul End: 1.1884