Market Update

Wholesale inventories in the United States declined during the month of May by 1.2%, meeting market estimates. This comes after inventories increased by 0.2% in April, according to data by the US Department of Commerce. Wholesalers’ sales increased by 5.4% in May, after falling by 16.4% in April, Reuters reported. …

After a short-term recovery to daily highs in 96.55 / 60 range, dollar fell to 96.30 area on US Dollar Index The demand for the safe-haven remained light for the second consecutive session, after the good sentiment in the market and investors turning to risky assets. Investors focus now on …

Weekly jobless claims in the U.S. decreased by an estimated 99,000 last week as data released by U.S. Department of Labor Thursday shows. The number reached 1,314,000 initial claims for unemployment benefits in the week ending July 4th, better than market expectations at 1,375,000 and higher than the previous week …

World Health Organization (WHO) Director-General Dr Tedros Adhanom Ghebreyesus said earlier on Thursday that the coronavirus pandemic is not under control in most parts of the world and it is getting worse. “We know that when countries take a comprehensive approach, the COVID-19 outbreak can be brought under control,” Tedros …

The UK’s Department of Health and Social Care said this Thursday that cases identified by England’s test and trace system reached 14,892 people were identified as close contacts of positive COVID-19 cases. The department of Health added that “of these people, 70.8% were reached and asked to self-isolate.” “4,347 people …

EUR/GBP maintained its performance in the mid-European session and last seen hovering around its lowest level in three weeks, just above the mid-0.8900s. The pair came under fresh selling pressure on Thursday and expanded its recent retreat from three-month highs set on June 29. Positive sentiment around sterling was the …

The Euro stalled its advance on Dollar Thursday after facing technical resistance and as stock market futures dipped lower across in the US, although the single currency ready to return to June highs before the week is out.  Euro is currently trading at 1.1327, down 0.03% against the US dollar, …

Russia has no plans to hold any talks with Saudi Arabia at the present time before OPEC+ ministerial monitoring committee meeting next week’s. Market reaction Oil prices ignored that news and WTI crude was trading at the time of writing at $ 40.75, losing 0.25% on a daily basis. Brent …

British government borrowing is on course to surge to around 350 billion pounds ($442 billion) this year following the latest spending measures announced by finance minister Rishi Sunak, the Institute for Fiscal Studies estimated on Thursday. “Back in March, the government forecast a deficit of about 50 to 60 billion …

German exports rebounded less than expected in May, as data released on Thursday showed; demand remained weak despite the easing of lockdown measures that had been imposed to contain the spread of the virus. The Federal Statistical Office said that seasonally adjusted exports increased by 9% on a monthly basis …