Oil prices rose on Tuesday, supported by positive news about the trials of the Covid-19 vaccine and the recovery fund agreement reached by European Union leaders, but gains were limited by fear of new lockdowns that may be a barrier to the recovery of demand for oil. Brent crude futures …
Read More »Gold at Years High
Gold continued its rise for the third consecutive session on Tuesday and rose to new highs for several years around $ 1823-24 area during the last hour. Additional stimulus plans from the US and the Eurozone were one of the main factors that lifted demand for the precious metal as …
Read More »EU Reaches ‘Historic’ Deal on Pandemic Recovery
European Union leaders reached a “historic” deal on a massive stimulus plan for the bloc’s economy, which is stagnating by the Covid-19. They reached the historic deal in the early hours of Tuesday after five days of negotiations. The agreement paves the way for the European Commission, the EU’s executive, …
Read More »UK Borrowing Hits Record in 3 Months
British government borrowing rose to a record of 127.9 billion pounds ($ 162 billion) in the first three months of the fiscal year 21/2120, more than twice the entire year previously, with strict Coved 19 closures. Borrowing in June, excluding state-owned banks, reached 35.5 billion pounds, five times higher than …
Read More »FX option expiries for July 21 NY cut
FX option expiries for July 21 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1350 1.0bn1.1500 650m – USD/JPY: USD amounts 106.00 650m106.40 595m106.45 500m106.75 431m106.85 410m107.00 402m107.30 480m107.35 644m107.55 447m
Read More »Europe Stocks Higher On Recovery Deal
European stock markets are set to open higher on Tuesday, supported headlines that the EU leaders have agreed on a massive stimulus plan to revive the economies damaged by the pandemic. DAX futures contract traded 1% higher, FTSE 100 futures contract in the rose 0.7%, while CAC 40 futures rose …
Read More »EU Leaders Nearing Agreement on Recovery Fund
Leaders of the European Union (EU) are set to reach an agreement about the COVID-19 recovery fund, which will help member countries cope with the coronavirus pandemic economic impacts. President of the EU Council, Charles Michel, was cited by Reuters earlier today as saying that he is confident of the …
Read More »EUR/USD Maintains Upward Trend
The Euro (EUR) rose against the US Dollar (USD) on Monday, supported by positive reports about COVID-19 vaccine trials and news that European leaders are nearing an agreement about a EUR 750 million recovery fund. The EUR/USD is currently trading at 1.14428, up by 0.15% for the day. Earlier today, …
Read More »Wall Street Settle Higher and Nasdaq Breaks New Record
Wall Street saw another record-breaking day on Monday, as all the New York Stock Exchange (NYSE) indices settled higher with the Nasdaq reaching a new all-time high. The Dow Industrial Average Index closed marginally higher by 8.9 points or 0.03% at 26,680.87. S&P 500 increased by 0.84% to settle at …
Read More »Oil Futures Settle Higher
Oil prices settled higher on Monday with markets showing recovery signs despite the increasing number of COVID-19 cases. A recent report by the US Energy Information Administration (EIA) expected the global demand for crude oil to recover by August 2021 and restore its pre-crisis levels. The US benchmark crude oil, …
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