The currency of South Africa, the leading platinum producer, weakened as a result of the collapse in Turkey, which hit other markets, Reuters reports. The South African rand lost 10% last week against the US dollar. The price of platinum fell to a ten-year low. Its value fell below $780 per ounce, losing 25% from the high level of January. The price of metal last week dropped to the lowest level since October 2008. The key factor in the price drop is still the excess of supply of metal over demand. The decline in demand for platinum is due to weak sales of diesel cars, in which this metal is used for autocatalysts.
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
The dollar sat near two-year lows on Wednesday as the United States struggled to control the coronavirus outbreak, breaking hopes for a fast economic recovery. The gloomy outlook for the U.S. economy is expected to urge the Federal Reserve ...
Renault SA (RENA.PA) announced on Monday that its global car sales fell by 34.9% in the first half of the year due to the impact of the coronavirus pandemic. However, the company said that it had seen some signs of recovery in June. The French ...
European new car registrations fell in June year-on-year, but showed some improvement when compared to May 2020 as lockdown measures continue to loosen across the region, Tuesday’s industry data showed. In June, passenger car sales were ...
The United States Labor Department reported on Thursday that jobless claims edged down to a near four-month low since last week, while 32.9 Million Americans collected unemployment benefits in the third week of June. The government agency ...