Market Update

“Sees EU area 2020 GDP at -8.7% vs. the previous forecast of -7.7%.Cuts Spain growth estimate for 2020 To -10.9% from -9.4%.Downgrades Italy growth estimate for 2020 To -11.2% from -9.5%.2021 forecast now at 6.1% from 6.5%.Downgrades French growth estimate for 2020 To -10.6% from -8.2%.Upgrades German growth estimate for …

Japanese shares ended the Asian session on Tuesday, Down. Japan’s Nikkei fell 0.44% at 22,614.69. The highest level of Nikkei during the trading session was 22,742.28, while the lowest at 22,540.44. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.2% after it briefly traded in positive territory. Hong …

Crude oil prices continued to trade above $ 40 a barrel, but the resulting fears of a growing number of Covid-19 cases around the world, especially the United States, are limiting the rise in oil prices. Brent crude contracts reached levels of $ 43.32 a barrel, up by 1.12% on …

Official data coming from Germany on Tuesday showed that industrial production rebounded less than expected in May, despite confirming that the manufacturing sector in the largest European economy is gradually recovering from the recession resulting from the closure measures. Industrial output posted + 7.8% MoM, the Federal Statistics Authority Destatis …

FX option expiries for July 7 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1265 909m1.1275 590m1.1335 521m1.1345 1.2bn1.1450 521m – GBP/USD: GBP amounts         1.2650 250m – USD/JPY: USD amounts          107.00 401m  – AUD/USD: AUD amounts 0.6915 633m  – NZD/USD: NZD amounts 0.6520 676m 

The New York Stock Exchange (NYSE) settled higher on Monday, amid an improvement in risk appetite among investors due to positive economic data and anticipation for a COVID-19 vaccine. The Dow Jones Industrial Index gained 459 points or 1.78% to settle at 26,287, and the S&P 500 index rose by …

Oil prices showed a mixed performance at the beginning of the week, with rising COVID-19 cases in the US casting their shadow on US crude, while expectations of a global demand recovery helped Brent crude finish Monday on a higher note. Global benchmark Brent crude oil futures for September delivery …

Global stocks are expected to remain mostly unchanged from their current levels by this time next year, according to a recent report by Citi bank, CNBC reported. This comes as bullish and bearish forces would cancel each other out. Citi remains overweight in the US and emerging market equities with …

The Central Bank of France is expecting the French economy to recover during the third quarter (Q3) of 2020. The second-biggest economy in the Eurozone could grow by an unprecedented 14% in Q3 of 2020, if business activity remains at the current levels, Reuters reported, citing forecasts by the central …

The US Department of Treasury and the Small Business Administration (SBA) announced that government support to businesses helped save 51.1 million jobs or 84% of the small business workforce. A total of $521.4 billion of financing to employers have already been approved, as part of a $660 billion COVID-19 pandemic …