Market Update

The US dollar, measured by the US Dollar Index (DXY), resumed the downtrend on Wednesday and is approaching its lowest near 93.50. The index quickly retracted its lead on Tuesday as sellers dominated the market and sentiment surrounding the dollar. The dollar remains under intense pressure as traders maintain the …

Asian stocks are struggling to get a steady direction with trading quietly ahead of Wednesday’s Fed meeting. The Nikkei came out with the news that the Japanese government’s plan to reduce the economic outlook for GDP for the year 20/21. Fitch downgraded Asian Majors’ Outlook to negative but the rating …

FX option expiries for July 29 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – USD/JPY: USD amounts          105.00 992m  – NZD/USD: NZD amounts 0.6650 203m0.6675 969m

The Italian Senate approved on Tuesday a request by Italy’s Prime Minister Giuseppe Conte to extend the state of emergency until October 15, in order to maintain preventive measures against the COVID-19 crisis. The move was supported by 157 votes and opposed by 125, Reuters reported. A six-month state of …

The US Treasury yields declined on Tuesday, ahead of the Federal Reserve’s Federal Open Market Committee (FOMC) July meeting releasing its policy statement tomorrow. Although no changes in interest rates are expected, the meeting is set to reveal more details about recent developments in the US monetary policy. The 10-year …

The New York Stock Exchange (NYSE) settled lower on Tuesday, as concerns regarding the COVID-19 pandemic continues to curb investors’ risk appetite, reflected by the rising demand for safe havens with gold prices reaching unprecedented levels. In addition, the market is anticipating the Federal Reserve meeting, in which it is …

Oil prices declined on Tuesday to settle at their lowest level in a week, ahead of the release of the US inventory data by the American Petroleum Institute (API). The global benchmark Brent crude futures for September delivery declined by 19 cents or 0.4% and finished at $43.22 per barrel, …

After rising above the $11,000 mark earlier today, the price of Bitcoin declined by 2.4% to trade at $10,986.10. Earlier today, Bitcoin rose by $1,268 or 12.7% to trade as high as $11,203.90, reaching its highest level in six months. Meanwhile, Ethereum is down by 1.6% at $317.48. Bitcoin Cash …

Gold prices settled higher on Tuesday after recovering from brief losses, achieving a new record high closing level for the third consecutive session. Concerns regarding the COVID-19 pandemic, as reflected by the decline in the US consumer confidence index, have spurred demand for safe havens. Gold futures for August delivery …

The US Federal Reserve has extended its lending facilities due on September 30 for three months to the end of 2020. The move comes as an effort to ease pressures on business amid the COVID-19 crisis. The three-month extension will facilitate planning by potential facility participants and provide certainty that …