Personal Income in the US rose by 0.9% on a monthly basis in September following August’s contraction of 2.5%, the US Bureau of Economic Analysis reported on Friday. This reading came in slightly better than the market expectation for an increase of 0.4%. Further details of the report revealed that …
Read More »The German Economy Grew More Than Expected in Q3
Germany’s GDP grew by 8.2% during the third quarter of 2020, compared to the previous quarter, amid increased consumption from households, a strong increase in exports and positive activity in manufacturing, according to official data. Experts polled by Reuters had expected growth of 7.3% in Q3. The German economy contracted …
Read More »Gold Rallies as US Dollar Falls and Pandemic Fears Grow
Gold won today, Friday, as the dollar fell, which pushed safe haven flows towards the yellow metal again after an increase in cases of Coronavirus in the United States and Europe, threatening to derail the global economic recovery from its course. Spot gold rose 0.1% to $ 1869.16 an ounce …
Read More »Dollar Settles And Euro near its 4-Week Low After ECB announcement
The dollar halted its rally on Friday, while the euro remained near a four-week low against the US currency after the European Central Bank hinted at more monetary easing by the end of the year. Overnight, the euro’s decline, combined with US data, helped push the dollar to near a …
Read More »America Records a New Record Jump in Daily Corona Cases
A Reuters count showed that the United States exceeded its record for the number of new daily infections with the Coronavirus on Thursday, with more than 91,000 new cases recorded. This sudden increase in the number of cases comes less than a week before the presidential elections, which will be …
Read More »Japan Shares Decline, Posting Largest Weekly Loss in 3 Months
Japanese stocks fell on Friday and recorded their biggest weekly loss in three months as sentiment hurt by mixed business reports, high cases of Coronavirus and the uncertainty surrounding the US presidential election. The benchmark Nikkei index fell 1.52% to 22,977.13 points. The index fell 2.3% this week, the biggest …
Read More »German Retail Sales Fell More Than Expected in September
Data on Friday showed that German retail sales fell more than expected in September, dampening hopes that household spending will lead to a strong recovery in Europe’s largest economy in the third quarter after the first wave of the Covid-19 pandemic. The Federal Statistics Office said retail sales fell 2.2% …
Read More »Oil Continues to Post Losses
Global oil prices fell by more than 1%, to continue to suffer losses and heading towards the second monthly decline due to growing fears that the high number of Covid-19 cases in Europe and the United States may harm fuel consumption. Brent crude fell for the third day, and fell …
Read More »DAX Witnessing a Slight Bullish Tendency
The intraday movements of the German DAX index are witnessing a slight bullish tendency after a series of drops. Technically, the index is trying to settle above the support floor at 11440, and the RSI indicator strengthens the possibility that we will witness a slight bullish bias over short periods …
Read More »Dow Jones on The Downside
Negative trading dominated the moves of the Dow Jones Industrial Average within the expected bearish path in the previous analysis, touching the required target at 26360, posting a low at 25950. Technically, we expect a bearish bias today, with trading consolidating below 26650, in addition to the RSI stabilizing below …
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