Market Update

As the world’s second-largest economy rebounds, People’s Bank of China (PBOC) is pausing its monetary policy easing, Reuters reported, citing four sources on the matter. The report says that the PBOC doesn’t see the need to ease further amid the economic recovery. Earlier this year, China’s central bank took extensive …

European stocks fell on Wednesday, with earnings reports and traders waiting for the United States to agree its latest stimulus package. At 07:55 GMT, the German DAX edged up 0.5%, the FTSE gained 0.6%, and the French CAC added 1%. A day after European leaders signed the historic € 750 …

Reports released on Wednesday morning showed that Covid-19 cases around the world reached 15 million cases, 230 thousand new cases since Tuesday, while about 17 thousand cases were registered this morning, bringing the total to 15,107,017 cases. On the other hand, the death toll has risen to 619,812 cases, while …

Preliminary data from Australia showed retail sales rose 2.4% MoM in June, compared to May’s 16.9%. Rises in Cafes, restaurants and takeaway food services exceeded 20% MoM for the second consecutive month, while Clothing, footwear and personal accessory retailing rose around 19% MoM

A Reuters poll of 13 economists showed that Japanese industrial output likely rebounded in June, indicating that factory activity may have reached the base of the deep recession caused by the pandemic. A relatively slight recovery in factory production will signal a modest economic recovery in the future. The Ministry …

FX option expiries for July 22 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1375 1.0bn1.1450 1.3bn1.1500 1.1bn – GBP/USD: GBP amounts         1.2725 458m – AUD/USD: AUD amounts 0.7050 773m0.7075 1.1bn

The New York Stock Exchange (NYSE) closed Tuesday after a mixed performance, as the market was feeling a positive sentiment towards a new economy stimulus package, which is set to be approved by the US Congress. However, concerns remain to cast their shadows as the number of COVID-19 cases remains …

The Australian Dollar (AUD) is rising across the board against major currencies on Tuesday, as recent remarks by the Governor of the Reserve Bank of Australia (RBA) are supporting the Aussie. RBA Governor Philip Lowe said in his annual speech to the Anika Foundation that Australia has now turned the …

Gold prices rose on Tuesday and settled near its highest level in nearly nine years, after the European Union (EU) approved in its latest summit a new recovery fund. In addition, the US Congress is expected to pass a new trillion dollar stimulus package. Despite an improvement in risk appetite …

The Euro (EUR) achieved huge gains against the US Dollar (USD) on Tuesday, after the historic agreement between the European Union’s (EU) leaders regarding the EUR 750 million COVID-19 recovery fund. The EUR gains were enhanced by a decline in USD across the board. The dollar index (DXY), which measures …