Market Update

Concern about the high of COVID-19, and the worsening relations between the United States and China affected the pair. The upbeat mood on the market undermined the CHF as a safe haven and helped reduce further losses. It appears that the USDCHF pair has now entered a bearish consolidation phase …

The headline German IFO Business Climate Index came in at 90.5 in July, better than last month’s 86.2 while beating the consensus estimates of 89.3. Meanwhile, the Current Economic Assessment arrived at 84.5 points in the same month as compared to last month’s 81.3 and 85.0 estimated. On the other …

European stock markets opened higher on Monday, supported by signs of recovery from China, along with the continued corporate earnings season. However, it gave up some of those gains with negative news about COVID-19 cases and tensions between the United States and China. At 06:05 GMT, DAX futures in Germany …

The yellow metal rose to all-time high on Monday as relations between the United States and China deteriorated, sparking demand for the safe metal while market sentiment was mixed ahead of more earnings reports. Gold rose 1.6% to a record $ 1.943 an ounce, exceeding its peak in September 2011 …

The National Health Commission of China said on Monday that it had recorded 61 new infections with the COVID 19 up from 46 the previous day, adding that it had detected the most significant number of local infections with the virus since early March. The commission said the new number …

The New York Stock Exchange (NYSE) settled lower on Friday, recording weekly losses, impacted by the rising tensions between the US and China and the increasing number of COVID-19 cases in many states across the US. The Dow Jones Industrial Average lost 182.44 points or 0.7% and closed at 26,469.9, …

A recent report by the World Trade Organization (WTO) showed that global trade was negatively impacted by the restrictions imposed against the coronavirus disease (COVID-19). The WTO previously estimated an 18% drop in trade around the world during the second quarter (Q2) of 2020. “Although the full impact of the …

The US Dollar (USD) is trading lower against major currencies on Friday, with the market seeing rising demand for safe havens, in light of the escalating tensions between the US and China and the rising number of COVID-19 cases across many countries. The demand for safe haven, evident by gold …

Oil prices closed higher on Friday, ending a week of fluctuations due to a collection of upward and downward factors. From one side, demand seems to be in the recovery phase, hence, the recent OPEC+ agreement to raise output by 2 million barrels per day, in addition to other positive …

Gold prices closed higher on Friday at a new record level, supported by increased demand for safe haven, which is driven by rising US-China tensions and the increasing number of COVID-19 cases in many countries. Today, gold futures for August were trading as high as $1,900 an ounce, but then …