| Today's Economy
Retail Sales Hold Up Better Than 2008-2009 COVID-19 caused only three months of declines as opposed to the mortgage meltdown's 16. Economic Roundup: Bracing for Impact Unemployment claims point to weakening labor market as COVID-19 case counts rise. This Time, U.S. Housing Is Leading the Way Housing is in the midst of a V-shape recovery. LatAm Daily Briefing: Chile Runs Out of Monetary Ammunition Room for easing is reduced, so policymakers have opted for nonconventional measures. » VIEW MORE TODAY'S ECONOMY
Commentary
U.S. Used-Vehicle Prices Take Off Prices reached all-time highs in June as supply remained limited and demand was steady. U.S. Retailers Are Responding to Sales Retail employment is being driven by consumer choices. COVID-19 Upends the 2020 Presidential Race Moody’s Analytics predicts that Biden will defeat Trump on Election Day. U.S. Congress Contemplates the Next Major Pandemic Relief Bill Moody’s Analytics expects the next relief package to total $1.4 trillion. » VIEW MORE COMMENTARY
Today's Economic Indicators
France
Consumer Price Index
Jun. 2020: 0.2%
France's EU-harmonized inflation rate cooled to 0.2% y/y in June from 0.4% in May. United Kingdom
Unemployment
May. 2020: 3.9%
U.K. joblessness held steady at 3.9% in the May quarter, again beating expectations for a rise due to the COVID-19 crisis. Euro Zone
External Trade
May. 2020: €9.4 bil
The euro zone trade surplus in goods remained largely depressed in May, at €9.4 billion, down from €20.7 billion in May 2019. Euro Zone
Monetary Policy
Jul. 2020: 0.0%
As expected, the European Central Bank left its monetary policy unchanged after a substantial €600 billion increase to its PEPP asset-purchase program a month earlier. Canada
ADP Canada National Employment Report
Jun. 2020: 1,042,863
E Canada
International Transactions in Securities
May. 2020: C$22.4 bil
Foreign investors' interest in Canadian securities remains strong amid heavy government debt issuance. United States
Moody's Analytics Beige Book Index
Jul. 2020: -136.1
The Moody’s Analytics Beige Book Index improved slightly, rising from -147.2 to -136.1 between May and July, signaling that the pace of contraction abated. United States
Jobless Claims
July 11: 1,300,000
The number of Americans filing for unemployment insurance benefits each week is no longer declining. United States
Philadelphia Fed Survey
Jul. 2020: 24.1
Manufacturing activity in the Third Federal Reserve District increased at a moderate pace in July, according to the Philadelphia Fed’s Manufacturing Business Outlook Survey. United States
Retail Sales
Jun. 2020: 7.5%
Retail sales continued to rise at an unprecedented rate in June, but that was mostly before the increase in COVID-19 infections caused pauses and reversals in reopenings. United States
St. Louis Fed Financial Stress Index
July 10: -0.14
The St. United States
Business Inventories (MTIS)
May. 2020: -2.3%
The inventory build stumbled even further in May, with business stockpiles contracting 2.3% over the month. United States
NAHB Housing Market Index
Jul. 2020: 72
Homebuilder confidence jumped up another 14 basis points to 72 in July. United States
Natural Gas Storage Report
July 10: 45 bil cubic feet
The rise in natural gas inventories last week closely mirrored analyst predictions, indicating that this report will have little effect on gas prices. Singapore
Foreign Trade
Jun. 2020:
United States
Treasury International Capital Flows
May. 2020: $127.0 bil
Net long-term capital flows were positive in May, the first monthly inflow in three months. » VIEW MORE ECONOMIC INDICATORS | 
