OPEC+ (OPEC and allies) is holding a Joint Ministerial Monitoring Committee (JMMC) meeting on Wednesday to decide oil output policy from August. The meeting will focus on easing output cuts to 7.7M bpd until December. This comes amid the slow recovery in the global economy that was hit by the …
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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15 July 2020 4:27 pm
France Says a Deal on EU Recovery Plan Can be Reached This Week
France said on Wednesday that they believe an EU deal on the European recovery plan can be reached by the end of this week. And according to Reuters, France presidency office also said that France could obtain a European subsidy of nearly 40 B euros (45.76 B dollars) to help …
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15 July 2020 3:46 pm
China Responds to UK Huawei Decision
China said on Wednesday that British Prime Minister Ban Huawei’s participation in the fifth-generation network is frustrating, and that other Chinese companies have followed headlines of how UK treat the telecommunications giant, which is harmful to investment. Liu Xiaoming, China’s Ambassador to the UK, said ‘the way you treat Huawei …
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15 July 2020 2:52 pm
Trump Ends Preferential Economic Treatment for Hong Kong
US President Donald Trump has signed an order to end preferential economic treatment for Hong Kong, after China enacted a new security law there. Hong Kong would be treated “the same as mainland China”, Trump said. He also signed a law to impose sanctions on officials who cracked down on …
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15 July 2020 2:28 pm
US Stocks Set to Open Higher
US stocks were set to open higher supported by news of the success of Covid-19 vaccine by Moderna in clinical trials. Dow Jones futures fell 253 points or 1.0%, while the Nasdaq 100 futures rose 0.4% and the S&P 500 0.7%. (10:15 GMT). It’s a heavy day for US in …
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15 July 2020 1:47 pm
Spanish PM sees “very difficult hours ahead”
Spanish Prime Minister Pedro Sánchez said on Wednesday that he sees “very difficult hours ahead.” Spanish Prime Minister Pedro Sánchez and Swedish Prime Minister Stefan Löfven met for talks before the European Union summit. The economy of Spain is one of the most affected economies in the European Union from …
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15 July 2020 1:26 pm
Bitcoin Stay Steady
Bitcoin continues to trade in a limited range on Wednesday for the sixth consecutive session and settles near $ 9210 levels. The cryptocurrency was between 9350 and 9050 dollars in the past four sessions. At the moment, bitcoin fell on a daily basis by about 0.42% in the 9210 area. …
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15 July 2020 12:27 pm
European Stocks Higher on Hopes of Vaccine And fund
European stock markets Trading higher on Wednesday as investors are optimistic about Covid-19 vaccine with expectations that the European Union summit will lead to more stimulus.In the European morning, the German DAX rose 0.7%, FTSE 100 in the UK rose 0.9%, while french CAC 40 rose 0.9%. Moderna’s Covid-19 vaccine, …
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15 July 2020 11:51 am
Euro at its Highest Level in 4 Months
The euro rose during the European morning, hitting its highest level in four months after increasing demand with Federal Reserve Governor Lil Brainard hinted that the US needed an easier monetary policy. EUR/USD rose 0.1% to 1.1408, after reaching its highest level since March 10 at 1.1423 earlier in the …
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15 July 2020 11:28 am
Oil Rises After a Drop in US Crude Stocks, Eyes on OPEC
Crude oil prices rose on Wednesday after a sharp drop in US crude inventories as markets eyeing OPEC meeting later in the day on the future level of production cuts. Brent crude futures rose 19 cents, or 0.4%, to $ 43.09 a barrel, while West Texas Intermediate (WTI) futures rose …
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15 July 2020 10:57 am
UK Inflation Rises Unexpectedly in June
Official data released today in the United Kingdom showed that British inflation rose unexpectedly in the previous month as the Office for National Statistics said that consumer price inflation rose to 0.6% in June from 0.5% in May. A Reuters poll had expected the rate to drop to 0.4%. Core …
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15 July 2020 10:23 am
UK Bans Huawei’s Equipment From 5G Networks
The United Kingdom said on Tuesday that they will ban China’s Huawei gear from UK’s 5G networks, starting at the end of 2020, as it poses a major threat to the country’s security. “The NCSC (National Cyber Security Centre) has now reported to ministers, that they have significantly changed their …
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15 July 2020 10:21 am
FX Option Expiries for July 15 NY Cut
FX option expiries for July 15 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1290 601m1.1350 681m1.1400 1.7bn1.1450 824m – USD/JPY: USD amounts 107.00 755m107.25 709m107.30 473m
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