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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 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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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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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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The US will announce guidelines to resume activities After most recent figures regarding new coronavirus cases in the US show a slowdown, the United States administration prepares to announce a list of guidelines that will allow a gradual return to normal activities in the economy. President Donald Trump plans to ease social distancing requirements and

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Crude oil storage capacity will be depleted by the middle of the year: IEA The International Energy Agency (IAE) forecasts a record fall in demand for crude oil this year, which will deplete the storing capacity by halfway through the year, despite agreed upon cutbacks by OPEC+. The IEA expects a contraction in demand of

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Meetings start at the IMF and World Bank This Tuesday, spring meetings will begin at the International Monetary Fund and the World Bank, with high expectations among markets concerning actions these institutions will take in light of the crisis caused by the coronavirus, particularly in vulnerable economies. It`s expected measures will be designed and announced

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FED appraises COVID-19`s impacts In statements made to the media, members of the US Federal Reserve have expressed concerns regarding the virus`s strongly negative impact on the American economy. Vice-president Richard Clarida assured he expects to see a severe impact on the economy, especially in demand, which could generate deflationary pressures. In light of this,

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No agreement reached in Europe regarding fiscal package The Finance Ministers of European Union country members met yesterday in an unsuccessful attempt to define a coordinated fiscal stimulus package in order to back the economy in light of COVID-19. The main point of cause of disagreement concerns the proposed bond issuance backed by the block`s

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Inflation decelerates more than expected due to energy prices According to figures published by the INEGI this morning, general inflation in March decelerated to 3.25% annually, after a (-) 0.05% setback during the month. The underlying index continued its moderate downwards tendency and set at 3.6% annual (0.29% monthly), with moderate increases in prices of

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