Market Update

The New Zealand Global Dairy Trade (GDT) price index declined by 1.7% on Tuesday. Meanwhile, the Whole Milk Powder price index decreased by 2.2%. The New Zealand Dollar (NZD) extended its gains against the U.S. Dollar (USD) following the data, with the Kiwi now up by 0.49% against the USD …

The U.S. Dollar (USD) is maintaining its downward trend on Monday, despite an increase in housing starts. Recent data suggests that the real estate sector in the United States is recovering amid a decline in interest rates. The Dollar index (DXY), which measures the USD performance against a basket of …

The Australian Dollar (AUD) is showing a strong performance, following the release of the latest Reserve Bank of Australia (RBA) meeting minutes. During the meeting, RBA board members noted that the COVID-19 downturn had not been as severe as earlier expected and a recovery was under way in most of …

Home construction starts in the United States grew in July, data showed on Tuesday. Residential unit starts increased by 22.6% to 1.5 million. Meanwhile, building applications rose by 18.8%.

Canadian Finance Minister Bill Morneau announced his resignation saying in a press conference that Canada is moving to the next stage of the struggle against the Coronavirus pandemic, and this currency may take many years in order to achieve economic recovery, and it is the right time now for a …

China said it rejected the US crackdown on Huawei after the administration of US President Donald Trump announced it would tighten restrictions imposed on the company. During his daily press testimony, Chinese Foreign Ministry spokesman Zhao Lijian urged the United States to stop undermining confidence in Chinese companies. Zhao said …

A Reuters Tankan survey of business confidence on Tuesday showed that Japanese manufacturers were less pessimistic in August than they had been in at least four months, but indicated only a slow recovery from the coronavirus pandemic. This highlights the mammoth task that policymakers face to pull the economy out …

Gold prices rose 1% to surpass the $ 2,000 mark on Tuesday, August 18, in light of the decline of the US currency to its lowest level in more than two years, and dealers ’focus on the minutes of the latest meeting of the US Federal Reserve scheduled for release …

The US dollar fell against a basket of major currencies for the fifth consecutive trading session Tuesday, August 18th, approaching its lowest level in two years under pressure from low bond yields and gloomy economic data in the US. The dollar has registered gains over the years, but the Coronavirus …

Oil prices maintained most of last night’s gains, Tuesday, August 18, after the OPEC + group said that members had almost fully committed to the agreed production cuts to support prices amid a decline in fuel demand due to the Coronavirus pandemic. By 07:02 GMT, Brent crude was down 18 …