There were 963,000 Initial Claims for unemployment benefits in the US during the week ending August 8st, Labor Department revealed on Thursday, better than the market expectation of 1.1 million and it’s the first reading below 1 million since mid-March.
Read More »USD Continues to Decline on Rising Stocks
The dollar fell to its lowest level in a week against a basket of currencies on Thursday, August 13th, while analysts pointed out that the reasons for the weakness lie in the solid performance of the stock market and the failure of additional stimulus to the US economy. After losing …
Read More »French Unemployment Rate Hits 37-Year Low
Data from the National Institute of Statistics and Economic Studies in France showed that unemployment in the country fell to its lowest level in 37 years during Q2, as a downward trend that continued for several years was exacerbated by the general isolation measures imposed to confront the Coronavirus, which …
Read More »Facebook and Twitter Escalate War Against US Election Misinformation
Online social media platforms have escalated their war against misinformation about the US election. Facebook has created a center to help users with polling resources, and Twitter has expanded the rules against misinformation about the mail and early voting. The move comes at a time when social media networks on …
Read More »Gold Rises on Increased Demand And Lower USD
Gold rose Thursday, August 13th, thanks to the dollar’s decline, to record further gains above the critical $ 1900 level, after a sharp retreat earlier in the week from its highest levels ever. By 07:08 GMT, spot gold increased 0.6% to $ 1929.13 an ounce, after falling below $ 1900 …
Read More »IEA Sees Lower Oil Demand in 2020
The International Energy Agency has revised its oil demand forecast for 2020 by 8.1 million barrels per day, warning that reducing air travel due to the Coronavirus will reduce global oil demand. The Paris-based International Energy Agency lowered its forecast for 2020 by 140,000 bpd to 91.9 million bpd, the …
Read More »European Stocks Falling Due to US Tariffs And Airbus dips
European stocks halted a four-day winning streak on Thursday, with the US government imposing tariffs on Airbus and a host of other European commodities unchanged, while trading in a group of blue-chip stocks after the right to distribute cash left the British FTSE100 index down. The European Stoxx600 index fell …
Read More »Oil Dropping After OPEC Report and US Inventories
Crude oil prices fell Thursday, August 13, after OPEC said it expects demand for its oil to decline more than expected, although US government data showed a decline in inventories, indicating that demand is returning despite the Coronavirus pandemic. Brent crude fell eight cents to $ 45.35 a barrel by …
Read More »Germany’s IFO: Companies See Business Return to Normalcy in 11 Months
According to the latest survey of businesses conducted by Germany’s influential IFO institute, the firms in Eurozone’s economic powerhouse expect business to return to normalcy in an average of 11 months from the coronavirus crisis. “For companies in the services sector, that number is even higher, at 11.7 months.” “The …
Read More »Gold Futures Rose During Asian Session
According to the COMEX, gold futures were traded in December at $ 1943.55 per ounce, up 0.28%. It previously traded at a session high $ 1952.65 an ounce. Gold may find points of support at $ 1874.20 and resistance at $ 2089.20. The dollar index, which measures the performance of …
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