FX option expiries for July 16 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1320 519m1.1350 2.0bn1.1400 853m1.1435 570m1.1450 712m1.1550 880m – GBP/USD: GBP amounts 1.2510 369m – USD/JPY: USD amounts 107.25 576m107.30 556m107.35 410m – AUD/USD: AUD amounts 0.6980 563m – NZD/USD: NZD …
Read More »Wall Street Futures Rise, Driven by Tech Rebound and Upbeat Corporate Outlook
U.S. stock index futures climbed on Wednesday, continuing a recovery in the tech sector, led by a su…
Oil Prices Edge Higher on Supply Concerns and Strong Demand Outlook
Oil prices continued their upward trajectory on Wednesday, approaching a two-month high, driven by e…
European Stocks Climb Amidst Anticipation for U.S. Inflation Data and French Elections
European shares advanced on Wednesday, fueled by gains in mining and technology stocks, as investors…
Asian Stocks Waver as U.S. Inflation Data Looms and Yen Nears Critical Level
Asian stock markets experienced a choppy trading session on Wednesday, as investors braced for a piv…
Will the Australian dollar resume its uptrend?
A report, by Credit Agricole Bank, contains expectations for the price movement of the Australian do…
Market Drivers; US Session, June 25
Along with a respectable increase in US rates, the US dollar recovered some of the ground it had los…
US Stocks Mixed as Nvidia Rebounds, Tech Leads Gains
Mixed performance was the expression that best describes Tuesday’s US stock market. The S&P 500 …
Fed Leans Hawkish, Rate Cuts in 2024 Uncertain
In 2024, the Federal Reserve changed its position on interest rates dramatically. The salient featur…
Tesla Tops Industry In Profit Per Vehicle Despite Faulty Cybertrucks
Tesla has topped the auto industry in profit per vehicle for the year through March, with Tesla̵…
Gold prices in red territory ahead of PCE data
Gold CFDs are -0.40% down, trading at $2323.40 and spot gold is -0.45% down, trading at $2323.97 at …
Market Analysis
July, 2020
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16 July 2020 1:00 am
Wall Street Closes Higher on COVID-19 Near Vaccine
The New York Stock Exchange (NYSE) closed higher on Wednesday, supported by positive news about the development of a vaccine for the coronavirus disease (COVID-19). In addition, the US Federal Reserve’s Beige Book showed that economic activity increased in almost all districts across the United States. The Dow Jones Industrial …
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16 July 2020 12:38 am
Oil Gains 2% Despite OPEC+ Decision
Oil prices settled higher on Wednesday after showing a mixed performance during the session, finding support from a decline in the United States crude oil inventories, according to data by the US Energy Information Administration (EIA). A major factor that impacted oil prices today was the expected OPEC+ agreement between …
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16 July 2020 12:18 am
Fed: US Economy Remains Below Pre-COVID-19 Levels
Economic activity in the United States increased in almost all districts, but remained well below where it was prior to the COVID-19 pandemic, according to the US Federal Reserve’s Beige Book, issued on Wednesday. “Consumer spending picked up as many nonessential businesses were allowed to reopen.” “Retail sales rose in …
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15 July 2020 11:45 pm
Gold Settles Marginally Higher
Gold prices increased on Wednesday, supported by a decline by the US Dollar (USD), and investors seeking safe havens. However, the yellow metal gains were capped by the stock markets rise due to positive sentiments surrounding news about positive results for a COVID-19 vaccine. Gold futures for August delivery rose …
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15 July 2020 11:37 pm
Moderna Edges Closer to Developing COVID-19 Vaccine
The stock of Moderna surged by as much as 18% on Wednesday as the company announced positive results for a coronavirus disease (COVID-19) vaccine that it is developing and is currently under clinical trials. In phase one of the clinical trials, there were positive immune responses in all 45 cases …
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15 July 2020 10:58 pm
Apple No Longer Has to Pay EUR 15 B to EU
The European Union’s (EU) General Court has ruled in favor of Apple Inc. in an appeal against the European Commission’s decision in 2016 to impose a fine of EUR 13 billion ($14.9 billion) due to tax evasion, CNBC reported. The decision was based on the premise that the government of …
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15 July 2020 10:47 pm
European Stocks Close Wednesday Higher
European stocks closed Wednesday on big gains, supported by positive sentiments after it was reported that new progress has been made on the way to develop a vaccine for the coronavirus disease (COVID-19). The pan-European Stoxx 600 index rose by 1.76% and settled at 373.87. FTSE100 surged by 1.83% and …
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15 July 2020 10:41 pm
Logan: Fed Doesn’t Evaluate Market Based on Yields
The US Federal Reserve does not measure market functioning based on the level of the Treasury bond yields, said Lorie Logan, executive vice president in the Markets Group of the Federal Reserve Bank of New York. Logan, who also serves as the manager of the System Open Market Account (SOMA) …
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15 July 2020 9:46 pm
Harker: Forward Guidance is Vital to Market
President of the Federal Reserve Bank of Philadelphia, Patrick Harker, said in a TV interview with Bloomberg that the Fed should maintain interest rates until the inflation target is achieved. “We’ve been saying for a long time that the 2% inflation goal is symmetric, which means we should overshoot it. …
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15 July 2020 8:47 pm
BoC to Keep Rates until Inflation Target is Reached
The Bank of Canada (BoC) plans to maintain its main interest rate near zero until the 2% inflation target is sustainably achieved. This comes as the BoC decided to maintain its benchmark interest rate at 0.25% on Wednesday BoC is also committed to buying $3.7 billion worth of Canadian government …
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15 July 2020 6:31 pm
Canada’s Factory Sales Surge 10.7% in May
Factory sales in Canada increased by a record 10.7% during May, after falling in April by 27.9%, according to data by Statistics Canada on Wednesday. Manufacturing sales were 28.4% below their level in February, before the COVID-19 crisis emerged. A majority of market analysts believe that it would take at …
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15 July 2020 5:50 pm
US: Industrial Production Rises by 5.4% in June
Data released by the Federal Reserve on Wednesday showed industrial production in the U.S. increased 5.4% in June after expanding 1.4% in May. This reading was better than market expectations of 4.3%. Other details of the report revealed that manufacturing output rose 7.2% in June and capacity utilization improved to …
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