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After a continuous upward trend that saw it achieve new unprecedented levels, gold prices were always going to see a correction wave, as stock markets flourished amid an improved risk appetite. Meanwhile, oil prices fell on rising concerns about the COVID-19 pandemic and its effect on the demand recovery, despite the announcement of a new vaccine. Here is a look at today’s top stories.
Forex and Cryptocurrencies:
Commodities:
- API: U.S. Crude Oil Inventories Down 4.4 M Barrels in Week
- Oil Prices Settle Lower by 1%
- EIA: U.S. Oil Production Seen at 11.26 M b/d in 2020
- Gold Sees Biggest Decline in Seven Years
- Gold Declining Rapidly while USD Maintains Gains
Stocks:
Economic Data:
- Russia’s GDP Contracts 8.5% in Q2 of 2020
- UK Sees Largest Quarterly Fall in Employment in 11 Years
- US PPI Registers Highest Rise in 21 Months
- How the Swiss Economy is Coping with COVID-19?
- German Investor Confidence Improved in August
- UK Consumer Spending Recovers in July
- Unemployment Benefits in Britain at 94.4 Thousand
- Japan’s Service Sector Sentiment Improves in July
- Car sales in China Rising for Fourth Consecutive Month
- Japan Current Account Surplus Narrows to 5-Year Low
- UK Unemployment Rate at 3.9% in June
Remarks:
- Barkin: No Stimulus Package Could Spur Recession
- French PM Warns of COVID-19 Second Wave
- Fed’s Daly Warns Against Inequality Amid COVID-19 Fight
- Trump Considering Cutting Capital Gains Tax
- WH Adviser O’Brien: US is ‘deeply troubled’ by arrest of Jimmy Lai
News:
