German Chancellor Angela Merkel warned that EU leaders may not be able to reach an agreement on a stimulus plan to combat Covid-19 on Sunday as negotiations between leaders continue for a third day and tensions over the demands of rich countries escalate. “There is a lot of goodwill, but …
Read More »Oil Falling, Covid-19 Escalating
Oil prices retreated on Monday on tensions over a recovery in fuel demand, after Covid-19 cases rose worldwide. Brent crude fell 25 cents, or 0.6%, to $ 42.89 a barrel, while US crude oil (WTI) fell 0.5%, or 22 cents, to $ 40.37 a barrel. More than 14.5M people were …
Read More »Asian Shares Are Down Before The European Summit
Asian Shares were underperforming on Monday morning, with oil and copper weakening and the increase of Covid-19 cases driving the markets as they awaited Eurozone and US efforts to reach fiscal stimulus plans to combat the epidemic. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.2%, erasing early gains …
Read More »FX Option Expiries For July 20 NY Cut
FX option expiries for July 20 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1300 550m1.1350 2.5bn1.1375 1.0bn1.1400 2.6bn1.1425 845m1.1450 617m1.1500 1.1bn – USD/JPY: USD amounts 107.00 476m
Read More »Market Weekly Overview
The return of tensions between Washington and Beijing was the centre of attention last week, with the increase in COVID-19 cases in the United States to unprecedented numbers, along with the tensions of the American presidential elections and doubts about Trump’s ability to win the upcoming polls amid the increasing …
Read More »Wall Street Set to Open Higher
Key Wall Street indices are set to open higher on Friday, as investors optimistic about more official stimulus to push the post-epidemic economic recovery even with record numbers increasing in COVID-19 cases. Dow e-minis were up 157 points, or 0.59%. S&P 500 e-minis were up 21.5 points or 0.67% and …
Read More »US Housing jump in June
Homebuilding in the U.S. increased in June with reports of rising demand for housing in low-density areas as companies allowed employees to work from home due to the pandemic. On Friday, the Ministry of Commerce said housing starts rose 17.3% to a seasonal annual rate of 1.186M. May data was …
Read More »New Record For Covid-19 Cases in US
The United States set a new record in the number of new cases of Covid-19, with 77,300 new cases recorded on Thursday, bringing the total number of current cases to over 3.5 million in the United States.The number of deaths associated with Covid 19 rose to 924, the highest since …
Read More »European Council Meeting For Two Days to Discuss The Economy Rescue Package
EU leaders are meeting Friday and Saturday in Brussels to discuss the recovery plan to respond to the COVID-19 crisis and a new long-term EU budget. This is the first physical meeting since the coronavirus pandemic started. The meeting will be dedicated to discussing the multiannual budget of the EU …
Read More »BoE’s Bailey: Financial Markets Indicate Interest Rates Will Stay Very Low
Bank of England (BoE) Governor Andrew Bailey said on Friday that the “financial markets indicate that interest rates will remain very low.” “People can see that we are committed to keeping markets stable via quantitative easing,” Bailey said, adding that “there is a legitimate question about what we do with …
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