FXCM Research Team

Canadian Government On 13 March the government announced the creation of a CA$10 billion Business Credit Availability Program (BCAP) to support financing in the private sector through the Business Development Bank of Canada (BDC) and Export Development Canada (EDC). Under this program, BDC and EDC will increase their cooperation with private sector lenders to coordinate financing and credit insurance solutions for Canadian businesses. The government also announced a series of…

United Kingdom Government Since March 2020, the government of the United Kingdom and the country's central bank, the Bank of England, have announced several major economic stimulus programs and policy measures to protect British businesses, consumers and institutions from the effects of the coronavirus. The government's support is mainly focused on supporting businesses and individuals through subsidized and government-guaranteed loan programs, outright grants, and tax and payment holidays. Coronavirus Business…

United States Government As the world's largest economy, the U.S. has been at the forefront of taking the initiative to help its citizens and businesses survive financially during the shutdown and help them get back on their feet afterward. The main action taken by the government was the Coronavirus Aid, Relief, and Economic Security (CARES) Act, a more than US$2 trillion economic relief package that includes several important programs and…

The Canadian banking system is generally considered to be one of the safest in the world. According to Global Finance magazine's annual listing of the world's safest banks based on their credit ratings, eight Canadian banks ranked in the top 40 in 2019, including those ranked 11 through 13. Canadian banks captured the top six positions in the ranking of the safest banks in North America. Regulation One of the…

ZARUSD Currency Pair The rand (ZAR) has been the official currency of South Africa since 1961 when the country first became a republic. As the biggest US trade partner in Africa, in 2018 South Africa traded a dual value of US$14 billion. United States is the third-largest trading partner to South Africa, and a dual bilateral trade agreement has been in existence since 1994. History Of ZARUSD In 1789 the…

Eskom is a 100% state-owned electricity company that provides energy to greater South Africa (SA). Featuring 30 power plants and a nominal generating capacity of 44,172 megawatts (MW), Eskom services 6.2 million direct customers. Given its massive size and government-sponsored status, the utility conglomerate is the backbone of South Africa's energy infrastructure. Unfortunately for the country's economy, Eskom has fallen on hard times. Widespread corruption, rising operational costs and staggering…

Throughout the COVID-19 pandemic of 2020, emerging market (EM) currencies faced a collection of unprecedented challenges. As a result, many EM currencies experienced a swift devaluation due to falling commodity prices and a large-scale migration to financial safe-havens. Although renowned for their volatility, these currencies encountered extreme forex turbulence as COVID-19 brought the global economy to a standstill. What Is An Emerging Market Currency? An EM currency is one that…

During periods of crisis, gold has proven to be a time-honored safe-haven asset. Scarcity and built-in utility have made the yellow metal a sought after commodity throughout recorded human history. Whether in physical or paper form, gold bullion is the world's go to financial hedge against uncertainty. Gold's validity as a financial safe-haven underwent a formidable test during the novel coronavirus (COVID-19) pandemic of 2020. Traders, investors, central banks and…

In response to the COVID-19 pandemic and ensuing economic chaos, governments and central banks around the world have created and rolled out dozens of financial rescue and economic stimulus plans to shield individuals and businesses affected by the lockdown in response to the coronavirus pandemic. Below, you can find links to our guides covering major countries' responses to the pandemic, both by the governments and their central banks. We will…