The European Central Bank said Tuesday that the profitability of the largest banks in the euro area collapsed in Q2 of the year, although banks managed to keep their bad loan balances low. The bank stated in its quarterly statistics that the return on capital in the first half of …
Read More »Sunak: We Can’t Keep Borrowing Huge Sums in Long Term
British Finance Minister Rishi Sunak said Tuesday that his country cannot continue to borrow huge sums in the long term because it is not sustainable for the economy. “It is clear that this year we have had to borrow huge sums to support the economy in a time of crisis, …
Read More »Gold Dropping After Trump Leaves Hospital
Gold prices fell on Tuesday, while stocks rose after US President Donald Trump left the hospital after being treated for the Corona virus, but the weakness of the dollar limited the gains. Gold spot fell 0.1% to 1910.68 dollars an ounce, and yesterday it had recorded 1918.36 dollars, its highest …
Read More »Oil Maintains Gains After Trump Returns to The White House
Oil prices rose in early trading Tuesday after US President Donald Trump returned to the White House from the hospital after being admitted to receive treatment for the Corona virus last Friday, while another hurricane swept through the Gulf of Mexico in the United States. Prices fell sharply last Friday …
Read More »RBA Keeps Interest Rates Unchanged
The Reserve Bank of Australia kept interest rates at 25 basis points, the level it has maintained since March. Reserve Bank of Australia Governor Philip Lowe said the unemployment rate is an important national priority for the board, and hinted at more monetary easing to support the economy and jobs. …
Read More »German Industrial Orders Rose More Than Expected in August
Data on Tuesday showed that German industrial goods orders rose 4.5% month-on-month in August, a boost to hopes that Europe’s largest economy would rebound strongly in the third quarter from the coronavirus shock. The increase comes in comparison with Reuters’ forecast of a 2.6% rise, and indicates that the economy …
Read More »Pound Stronger Against Yen
The British Pound managed to post strong gains against its Japanese counterpart, as we expected, to reach the first target at 137.20 and record the last session’s high of 137.42. The pair continues to the positive above the 136.40 support level, with positive signs from the 50-day moving average. Therefore, …
Read More »German DAX Witnesses Gains and Maintains Positive Outlook
Positive trading dominated the German DAX index within the expected bullish path we mentioned in the previous analysis, and reached the target level of 12870, posting a session high at 12870. Technically, the intraday trading is holding above 12770 and generally above 12710/12735 with positive signals from the 50-day moving …
Read More »Dow Jones Remains Positive as Long as it Remains Above 27765
The Dow Jones Industrial Average jumped on Wall Street yesterday, posting strong gains, surpassing the previous target we mentioned of 27880, to hit a high of 28085. Technically, we expect the upside move based on the breach of 27765 resistance, which has turned into strong support, in addition to positive …
Read More »Canadian Dollar Maintains The Negative Outlook
The Canadian dollar managed to achieve the negative outlook that we mentioned in the previous analysis, touching the first target during the previous session at 1.3355, recording its lowest price at 1.3242. Technically, and looking at the 4-hour chart, we find that the 50-day moving average is forming pressure on …
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