The Dollar index (DXY) continues to maintain its decline for another day as it is closed to finish Tuesday’s session down by 0.31% a little above the 93 mark. The DXY measures the performance of the US Dollar (USD) against a basket of six major currencies. The USD is down …
Read More »Dollar Under Pressure as Inflation Data Shows Cooling Trend
The US Dollar (USD) faced downward pressure following the release of August’s Personal Consump…
US Stocks Extend Rally Amid Cooling Inflation
US equities continued their upward trajectory for a third consecutive week, buoyed by reassuring eco…
ECB’s October Rate Cut Looms as Eurozone’s Inflation Eases
The European Central Bank’s (ECB) attention is shifting from inflation to economic growth, pav…
Sterling Rebounds Following Softer US PCE Data
The Pound Sterling bounces back strongly above 1.3400 against the US Dollar after soft US PCE inflat…
European Markets Hit New Highs Amid China-Driven Rally
European stock markets reached a fresh record high in mid-morning trading on Friday, fueled by stron…
Germany’s Unemployment Rate Exceeds Expectations in September
The number of unemployed individuals in Germany increased more than anticipated in September, accord…
Japanese Yen Gains as Shigeru Ishiba Wins Leadership Race; U.S. Dollar Faces Pressure
The Japanese Yen (JPY) managed to recover its daily losses following the news that Shigeru Ishiba, t…
Oil Prices Decline for Third Day, Focus on Libya and OPEC+ Output
Oil prices eased on Friday, marking the third consecutive day of declines, as investors monitored ex…
Market Drivers; US Session, September 26
The Greenback navigated quite a bearish session on Thursday, giving away a big chunk of Wednesday’s …
Gold Bulls Remain Cautious Ahead of US PCE Price Index
Gold prices, having recently reached a new all-time high, are currently facing a period of consolida…
Market Analysis
August, 2020
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25 August 2020 11:44 pm
Oil Prices Finish Higher
Oil prices closed higher on Tuesday, continuing to gain support from output disruptions due to weather conditions at the Gulf of Mexico. West Texas Intermediate (WTI) finished higher by 73 cents at $43.35 per barrel, or its highest level since March 5. Meanwhile, the global benchmark Brent crude futures for …
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25 August 2020 11:31 pm
Gold Settles Lowers as Trade Concerns Ease
Gold prices finished lower on Tuesday, for the second consecutive day, as the remarks by US and China top trade officials eased concerns about a trade war between the world’s two largest economies, thus, lowering demand for safe havens. However, the US Dollar’s (USD) decline provided some support for the …
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25 August 2020 9:41 pm
European Stocks Give Up Earlier Gains and Close in Red
European stocks closed lower on Tuesday, after rising earlier in the session supported by positive remarks regarding the trade agreement between the United States and China. Officials from the world’s two largest economies reaffirmed their support for the trade deal. The STOXX Europe 600 index closed lower by 0.16%. The …
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25 August 2020 9:33 pm
GBP/USD Rising Above 1.31
The British Pound (GBP) rose on Tuesday on the back of the US Dollar (USD) decline, despite a decline in the UK’s retail sales. The Sterling is up against the USD by 0.47% with the GBP/USD trading at 1.3124. Retailers in the UK have cut jobs at the highest rate …
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25 August 2020 6:55 pm
US Home Sales Rise by 13.9% in July
New homes sales in the United States increased by 13.9% in July to a seasonally adjusted annual rate of 901,000 units, according to data by the U.S. Census Bureau. This is the highest level for new home sales in around 13.5 years, since December 2006, with the housing market showing …
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25 August 2020 6:45 pm
Richmond Manufacturing Activity Improves in August
Manufacturing activity continued to strengthen in August, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite index rose from 10 in July to 18 in August, with survey results suggesting that many Fifth District manufacturers saw increases in employment, wages, and the average workweek …
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25 August 2020 6:30 pm
US Consumer Confidence Decreases in August
The Consumer Confidence Index in the United States decreased for the second consecutive month in August to 84.8 down from its July reading of 91.7, according to data by the Conference Board. Moreover, the Present Situation Index decreased sharply from 95.9 last month to 84.2. Meanwhile, the Expectations Index declined from …
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25 August 2020 5:51 pm
US: Housing Price Index Up 0.9% in June
The Housing Price Index (HPI) in the US rose 0.9% in June, the Federal Housing Finance Agency’s (FHFA) monthly report showed on Wednesday. This reading followed May’s print of -0.2% (revised from -0.3% and came in higher than the market expectation of 0.1%. Meanwhile, the S&P/Case-Shiller’s 20-metro area Home Price …
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25 August 2020 5:04 pm
US: Philly Fed Non-manufacturing Index Declines
The headline Diffusion Index of the Federal Reserve Bank of Philadelphia’s Nonmanufacturing Business Outlook Survey dropped to 17.9 in August from 23.7 in July, the monthly data showed on Tuesday.
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25 August 2020 4:21 pm
German Business Confidence Improved More Than Expected
A survey showed that German business confidence improved better than expected in August, boosting hopes that companies in the largest European economy are recovering from the coronavirus shock. The IFO said its business climate index rose to 92.6 from a revised level of 90.4 in July. This is the fourth …
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25 August 2020 4:18 pm
European Shares Rising on Optimism About US-China Agreement
Renewed optimism about a US-Chinese trade agreement and a less-than-expected decline in economic production in Germany led to the rise of European stocks on Tuesday, and stocks in Frankfurt recorded their highest level in a month. The European Stoxx600 index rose 0.8% by 07:11 GMT, extending gains on the back …
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25 August 2020 3:17 pm
Germany Issues Travel Warning For Paris, Cote d’Azur Regions
The German Foreign Ministry said that Berlin issued a travel advisory against the Paris regions and the French Riviera due to the high cases of Coronavirus there. The ministry added that it had warned against unnecessary tourist trips to the Ile-de-France region, which includes the French capital, and the southern …
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