The New York Stock Exchange (NYSE) indices showed a varied performance on Monday, as the Nasdaq and S&P 500 closed lower with some of Wall Street biggest tech names registering losses. The Dow Jones Industrial Average was able to close on marginal gains, rising by by 10.50 or 0.04%, at …
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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14 July 2020 12:38 am
Oil Settles Lower by 1%
Oil prices declined on Monday as the rising number of COVID-19 cases are leading to concerns regarding demand recovery. Brent crude futures settled higher by 1.2% at $42.72 per barrel, while the US benchmark crude oil, West Texas Intermediate (WTI), futures closed down by 1.1% to $40.10 per barrel. An …
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13 July 2020 11:40 pm
Gold Resumes Gains at Monday’s Close
Gold prices rose on Monday after posting two consecutive declines, during which it was able to maintain the $1,800 level. Although the yellow metal did not yet restore its highest level in nine years, where it closed last Wednesday, gold futures for August delivery increased by $12.20, or 0.7%, and …
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13 July 2020 11:29 pm
Euro Surges Across the Board
The Euro (EUR) has surged against major currencies during Monday’s trading, supported by the decline of the US Dollar (USD). A highly anticipated meeting for the European Central Bank (ECB) is set to take place on Thursday, while on Friday the European Union Leaders will discuss the COVID-19 crisis stimulus …
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13 July 2020 9:53 pm
USD Weakens Against Major Currencies
The US Dollar (USD) is showing a weak performance during the first session of the week, despite the lack of major economic data. The United States continues to hold the highest number of coronavirus disease (COVID-19) cases worldwide, with multiple record-high daily surges in recent weeks. The Dollar Index (DXY), …
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13 July 2020 9:43 pm
European Stocks Close Higher
Despite a record increase in COVID-19 cases worldwide on Monday, European stocks closed higher, supported by positive expectations regarding the development of a new vaccine for the spreading novel coronavirus. The pan-European STOXX 600 index added 1.06% or 3.88 points, as it closed at 370.71. In Paris, the CAC40 Index …
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13 July 2020 9:22 pm
New York Fed: Consumer Expectations Improving
The Federal Reserve Bank of New York June 2020 Survey of Consumer Expectations showed a continued gradual decline in pessimism about household financial conditions. Although consumers overall remain less optimistic about earnings growth, income growth, and job finding expectations compared to the pre-COVID-19 environment, some indicators showed considerable improvements in …
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13 July 2020 9:11 pm
Germany Doubtful of an EU Agreement on COVID-19 Fund
German Chancellor Angela Merkel expressed doubts regarding whether members of the European Union will reach an agreement on the coronavirus recovery fund or not. An EU summit will discuss on July 17-18 the planned EUR 750 billion ($840 billion) economic stimulus package. The meeting will also discuss the next seven-year …
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13 July 2020 8:56 pm
New York Fed Plans Libor Rate Phaseout by end of 2021
The President of the New York Federal Reserve Bank, John Williams, reiterated plans to phase out the use of Libor rate by the end of 2021, Reuters reported. “It doesn’t matter whether you are a large global bank or a local company with a handful of employees, you need to …
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13 July 2020 8:05 pm
Goldman Sachs: Recovery Signs Too Early to Call
A recent note by Goldman Sachs said that the United States and global economies are showing signs of recovery, based on recent reading by the purchasing managers’ indices (PMIs). After reaching readings as low as 30s in April, the indices are hovering around the 5o reading, which signals expansion in …
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13 July 2020 7:42 pm
NYSE Opens Week Higher
Indices of the New York Stock Exchange (NYSE) opened higher on Monday, with the Nasdaq reaching yet another record high, with investors growing optimistic about a vaccine for the new coronavirus disease (COVID-19). The Dow Jones Industrial Average opened higher by 0.57% at 26,225, while the S&P 500 gained 0.63% …
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13 July 2020 7:41 pm
WHO Warns COVID-19 Could Get Worse and Worse
The World Health Organization (WHO) has warned on Monday that the new coronavirus (COVID-19) pandemic may be getting worse around the world, with many countries failing to correctly respond to the situation and take the necessary preventive precautions. “Let me be blunt, too many countries are headed in the wrong …
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13 July 2020 6:10 pm
Bitcoin in a Marginal Range at $ 9,300
The cryptocurrency, Bitcoin, is moving in a limited range on Monday to settle near $ 9,300 for the fourth consecutive session and trades have fluctuated over the past four sessions between $ 9,050 and $ 9,350. The currency fell 0.13% on a daily basis and is currently trading near $ …
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