Intercam News

The Day at a Glance | April 30 2020

Mexico records its deepest contraction since 2009 INEGI estimates suggest that the Mexican economy contracted at a (-) 2.4% annual rate during 1Q20 (-1.6% quarter over quarter). With this, three consecutive quarters have recorded contractions (quarter over quarter, it would be five consecutive quarters), and the first quarter of 2020 recorded the largest annual rate

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The Day at a Glance | April 29 2020

US economy contracts more than expected in 1Q20 Data released by the Bureau of Economic Analysis of the US Department of Commerce confirmed a quarterly annualized (-) 4.8% contraction in the first quarter of the year. The contraction was observed in practically all of the GDP`s components, except government spending (0.7%), which recorded its lowest

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The Day at a Glance | April 28 2020

WTI drops again The West Texas Intermediate (WTI), American crude oil price reference, has fallen a little over 37% in the last two sessions and approaches $10 dollars per barrel. Some funds and investors have started to get rid of their June futures contracts in light of fears that they could reach negative prices in

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The Day at a Glance | April 27 2020

Bank of Japan broadens monetary stimulus In its monetary policy meeting, the Bank of Japan has committed to buying a limited amount of government bods and double its purchasing of corporate debt (20 trillion yen) to maintain interest rates low. These measures also seek to back the government`s actions, which has announced aggressive spending programs

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The Day at a Glance | April 24 2020

The Mexican economy contracted in February The INEGI`s Global Indicator of Economic Activity in Mexico (IGAE, for its acronyms in Spanish), recorded its second consecutive month of contraction regarding the Mexican economy this year, setting at -1.6% annual (-0.2% monthly) during February. Figures suggest that the economy is very weak, even prior to COVID-19`s impact

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The Day at a Glance | April 23 2020

Strong deceleration regarding inflation in Mexico The first half of April recorded a (-) 0.72% contraction in concerning general prices in the economy, which set the annual rate of inflation at 2.08%, level way below analysts` estimates. The underlying component increased 0.2% in the first half of April and highlighted its downwards trend, recording a

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The Day at a Glance | April 22 2020

US Senate approves new fiscal package The US Chamber of Senators iounanimously approved an additional $484 billion dollar package yesterday in order to aid businesses during the health emergency. This will be sent to the House of Representatives, where increasing the amount of resources is being discussed and will be voted on Thursday. This is

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The Day at a Glance | April 21 2020

The collapse of international oil prices is extended Yesterday, May crude futures regarding American oil (WTI), whose expiration date is today, recorded negative prices as investors sought to get rid of the instrument at all costs – before the expiration date and prior to the delivery of barrels. Today, the collapse extended to the June

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The Day at a Glance | April 20 2020

Oil prices reach lowest level in 21 years Oil prices collapsed early last week due to low demand, growing inventories and insufficient storage facilities. The greater impact is regarding its American reference price, the West Texas Intermediate, which is set this morning at $11 dpb (-38.53%), 6 dollars under last week`s closing price. The adjustment

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The Day at a Glance | April 17 2020

China records its first economic contraction in decades The Chinese economy recorded a contraction at an annual rate of (-) 6.8% during 1Q20, period in which the country suffered havoc due to the spread of the new coronavirus. It is the worst piece of data since official GDP figures exist, published for the first time

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