Market Update

Oil prices fell on Monday in Asia ahead of the OPEC meeting on Wednesday. Brent crude prices fell 0.74% to $ 42.92 a barrel, West Texas Intermediate (WTI) fell 0.81% to $ 40.22 a barrel. Oil had risen more than 2% on Friday after the International Energy Agency (EIA) revised …

FX option expiries for July 13 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1350 722m1.1375 622m1.1400 847m – USD/JPY: USD amounts          106.50 360m 106.55 450m106.75 355m106.80 418m106.85 436m107.50 545m108.00 414m – AUD/USD: AUD amounts 0.6900 669m – NZD/USD: NZD amounts 0.6655 1.9bn – EUR/GBP: EUR amounts …

Asian shares reached their highest levels in five months on Monday, with investors optimistic about the earnings reports from US companies, as it is expected to exceed expectations despite Covid-19 and lockdowns. The MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.15%, after rising sharply last week due to …

Goldman Sachs has raised its forecasts for gold prices during 2020, according to a recent note, CNBC reported. The bank sees gold prices at $1,800 per ounce during the next three months, at $1,900 for the coming six months, and at $2,000 a ton for the coming 12 months. Goldman …

The New York Stock Exchange (NYSE) maintained its gains on Friday, despite the United States seeing a new record high of new coronavirus cases, with the Nasdaq reaching a new all-time high closing level. Energy stocks achieved noticeable gains, supported by the recent IEA report that suggested improved demand for …

Oil prices gained more than 2% on Friday, after the International Energy Agency (EIA) expected improved demand for crude during 2020, claiming that the worst effects of the COVID-19 pandemic on the oil market are over. Brent crude settled higher by 2% or 89 cents at $43.24 per barrel, while …

Gold prices declined for the second consecutive day but were able to maintain the $1,800 level, near its highest in nearly nine years. The yellow metal futures for August delivery decreased marginally by $1.90 and settled at $1,801.90 per ounce. Gold prices increased by 0.7% for the week. This is …

The number of active US oil rigs decreased by four to 181 this week, according to data by Baker Hughes. It worth mentioning that the number of rigs drilling for crude oil in the US did not a single increased since mid-March.

European stocks settled higher on Friday, supported by positive industrial data in France and Italy. The pan-European STOXX Europe 600 index closed up by 0.81% at 366.6 points, up by 0.50% for the week. In the London Stock Exchange (LSE), FTSE100 finished higher by 0.76%. Meanwhile, the French CAC40 index …

President of the Federal Reserve Bank of Dallas, Robert Kaplan, has called for increased use of face masks across the United States to combat the spread of the coronavirus disease (COVID-19). “While monetary and fiscal policy have a key role to play, the primary economic policy from here is broad …