Wells Fargo reported quarterly losses for the first time since the financial crisis in 2008. The COVID-19 crisis forced to write off 9.57B to cover potential loan losses. Wells Fargo reported a loss of $ 2.4B, or 66 cents a share, in the second quarter ending June 30, compared to …
Read More »European Stocks Rise on Fed Optimism and Political Developments
European stocks enjoyed a boost on Wednesday, buoyed by Federal Reserve Chair Jerome Powell’s …
Asian Markets Mixed as Nikkei Surges, China Stumbles on Services PMI
Asian stocks presented a mixed picture on Wednesday, with Japan’s Nikkei 225 index reaching ne…
Market Drivers; US Session, July 2
With another session of quiet trading activity across the FX sector, the US dollar moved marginally …
What do markets expect post-Powell, Lagarde’s recent statements?
Powell Cites “Actual Advancement” While Central Bankers Evaluate War Against Inflation. …
Oil stabilizes after briefly touching new highs amid steep API drawdown
Crude Oil prices briefly reached new highs on Tuesday, with West Texas Intermediate crude testing ab…
Will BTC price rebound from current levels?
Bitcoin price is currently trading down -1.24% at $62,047, with a drop of over 2.25% over the last 2…
Gold declines after Powell’s remarks amid retreating T-yields
Gold fell 0.28% following Fed Chair Jerome Powell’s remarks at the ECB forum in Portugal. Powe…
USD experienced minor losses after Powell’s forecast
On Tuesday, the DXY Index showed a decrease in gains to hover near 105.70. The Greenback is influenc…
Lagarde: Eurozone ‘Very Advanced’ on Disinflationary Path
The Eurozone is “very advanced” on the disinflationary path but there remain “ques…
Sterling sharply surges following Powell’s remarks
The British Pound has seen a sharp recovery after retracing to 1.2620 against the US dollar in Tuesd…
Market Analysis
July, 2020
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14 July 2020 4:58 pm
US Consumer Prices Rebound in June
The Labor Department said on Tuesday that the consumer price index rose 0.6% last month after falling 0.1% in May in the 12 months to June, the lowest annual increase since September 2015. Economists who participated in the Reuters poll expected the CPI to rise 0.5% in June and rise …
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14 July 2020 4:03 pm
JPMorgan Q2 Beats Expectations
JPMorgan, the largest bank in USA, was the first to release Q2 earnings report among the three largest banks in the United States, reported that the bank’s net profit fell by nearly half, due to a $ 10.8B charge for provisions against bad loans. However, the report came stronger than …
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14 July 2020 3:50 pm
US Stocks Set to Open Little Higher
US stocks are set to open with a modest rebound after its sharp losses on Monday over California headlines about COVID 19 cases, although bank quarterly earnings reports due later may be a game-changer. At 11:40 GMT, S&P 500 Futures trader 13 points, or 0.4%, higher, Nasdaq Futures up 48 …
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14 July 2020 3:08 pm
China’s Crude Oil Imports Increased For The Second Month
Chinese customs data showed that China’s imports of crude oil jumped 34% in June on an annual basis; this is the record for the second month in a row next to the arrival of shipments purchased during the collapse of oil prices last April to Chinese ports. Data showed that …
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14 July 2020 2:16 pm
Australia’s NAB Business Confidence Index Climbed In June
Data released by NAB Institute revealed that Australia Business Confidence increased in June. To exceed zero levels for the first time in more than 6 months. Australia’s NAB’s business confidence unexpectedly rose to 1.0 in June, defying market forecast for a drop to a level of -87.0 and compared to …
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14 July 2020 1:41 pm
German ZEW Misses Estimates
Data released on Tuesday showed that the German ZEW Economic Sentiment Index came in at 59.3 versus 60.0 expected and 43.4 last. While the sub-index Current Conditions figure arrived at -80.9 in July compared to -65.0 expected and -83.1% previously recorded. Meanwhile, the Eurozone ZEW economic sentiment for July came …
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14 July 2020 12:48 pm
UK Manufacturing Production Rebounds
Data published by the Office for National Statistics (ONS) showed that the general situation in the industrial sector improved for May in UK. Manufacturing production grew to + 8.4% on a monthly basis in May, against expectations of -20.9% and -24.4% in April, while total industrial output grew by + …
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14 July 2020 12:27 pm
China’s Imports Rise For First Time Since The Pandemic
China’s imports rose in June for the first time since the pandemic. Demand for goods rose on the government stimulus while exports also increased in a sign the recovery is gaining strength. Customs data showed on Tuesday that China’s imports increased by 2.7% in June compared to last year, market …
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14 July 2020 11:50 am
US Dollar Index Near 96.60 Ahead of CPI
DXY is struggling to find direction in the 96.60 region, affected by the increase in the number of Corona cases and risk appetite. The US dollar index, which measures the strength of the greenback versus a basket of currencies, was moving around 96.60 in the European morning. The index attempts …
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14 July 2020 11:32 am
China is Expected to Recover in Q2
The Chinese economy is likely to return to recovery and record modest growth in Q2 after the contraction with the end of lockdown and the announcement of more stimulus, according to a Reuters poll. China is expected to post 2.5% growth in April-June compared to last year, posting a 6.8% …
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14 July 2020 11:21 am
Nikkei Slightly Lower
Japanese stocks closed the Asian session with a slight decline as the Nikkei 225 recorded a decline of 0.87% to 22,587.01.The highest level reached during the trading session was 22,677.02, while the lowest were 22,538.78. Meanwhile, the broader TOPIX index registered a decline of 0.50% or 7.87 towards 1,565.15.
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14 July 2020 10:42 am
FX Option Expiries for July 14 NY cut
FX option expiries for July 14 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1300 2.1bn1.1320 949m1.1325 1.1bn1.1350 1.1bn1.1400 615m – GBP/USD: GBP amounts 1.2500 257m1.2640 249m – USD/JPY: USD amounts 106.50 412m106.75 605m – NZD/USD: NZD amounts 0.6480 248m
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