The single currency fell significantly during the previous session, as we expected yesterday to touch the target at 1.1720, posting a low of 1.1717. Technically, looking at the 4-hour chart, we find that the SMA-50 continues to exert negative pressure on the price, while we find that the pair found …
Read More »US Stocks Drop as Economic Outlook Deteriorates On Covid-19
Major US stock indices opened lower on Wednesday as Corona virus infections grew at an alarming rate in the United States and Europe, dashing hopes for a speedy recovery for the global economy. The Dow Jones Industrial Average fell 361.05 points, equivalent to 1.31%, to 27,102.14 points, and the S&P …
Read More »European Union Urges Eurozone to Step up response to pandemic
The European Commission has urged the EU governments to step up the response to the coronavirus pandemic amid the alarming spike in infections, Reuters reported on Wednesday. “EU Commission calls for coordinated testing strategies in EU states, recommends the use of antigen tests.”“EU extends to April 2021 suspension of customs …
Read More »US: Trade Deficit Narrows to $79.4 Billion in September From $83.1 Billion
The US merchandise trade deficit decreased sharply in September while exports increased to support expectations of record economic growth Q3. The US Commerce Department said on Wednesday that the merchandise trade deficit fell 4.5% last month to $ 79.4 billion. “Exports of goods for September were $122.0 billion, $3.2 billion …
Read More »Oil is Down More Than 4% as Increase in US Stockpiles Fueled Fears of Excess Supplies
Oil prices plunged on Wednesday, giving up the gains they had made the previous day, as an increase in US crude stocks and a rise in coronavirus cases in Europe and the United States fueled concerns about oversupply and weak demand for fuel. Brent crude futures fell $ 1.60 to …
Read More »Turkish Lira at Fresh Lows Against USD
The Turkish lira weakened to new lows against the dollar on Wednesday after the central bank raised its forecast for the rate of inflation in the current and next years. The lira recorded its lowest level ever at 8.2655 against the US currency to close at 8.1875 pounds yesterday and …
Read More »Euro Falls on Concerns About French Isolation Measures
The dollar rose against the euro due to the possibility of imposing general isolation measures that include in France, while the Japanese yen rose to its highest level in more than a month as traders adjusted their positions in preparation for the US presidential elections next week. The dollar fell …
Read More »European Shares at Their Lowest Level Since Mid-June
On Wednesday, European stocks reached their lowest levels since mid-June, following a report that France was considering implementing nationwide lockdown measures for a month to combat a rise in coronavirus cases. The pan-European STOXX 600 index fell 1.6%, while the German DAX index tumbled 2.2%, the British FTSE 100 index …
Read More »Turkey’s Economic Confidence Index Rose 4.8% in October
Turkish Statistics Institute data revealed on Wednesday that the Turkish economic confidence index rose 4.8% on a monthly basis in October to 92.8 points, recording a sixth consecutive month after it retreated due to measures to combat the outbreak of the Coronavirus. Economic activity fell sharply in March and April, …
Read More »Nikkei Falls On Coronavirus Fears And US Elections
Japanese stocks fell on Wednesday for a third consecutive session, weighed by concerns related to an increase in coronavirus cases in Europe and the United States, which could further damage the already ailing global economy. Analysts also said that apathy dominated trading, as the US presidential elections kept many investors …
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