Canadian Finance Minister Bill Morneau announced his resignation saying in a press conference that Canada is moving to the next stage of the struggle against the Coronavirus pandemic, and this currency may take many years in order to achieve economic recovery, and it is the right time now for a …
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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18 August 2020 5:22 pm
China Strongly Rejects US Measures Against Huawei
China said it rejected the US crackdown on Huawei after the administration of US President Donald Trump announced it would tighten restrictions imposed on the company. During his daily press testimony, Chinese Foreign Ministry spokesman Zhao Lijian urged the United States to stop undermining confidence in Chinese companies. Zhao said …
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18 August 2020 5:19 pm
Japanese Manufacturers’ Confidence Improved Slightly
A Reuters Tankan survey of business confidence on Tuesday showed that Japanese manufacturers were less pessimistic in August than they had been in at least four months, but indicated only a slow recovery from the coronavirus pandemic. This highlights the mammoth task that policymakers face to pull the economy out …
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18 August 2020 3:24 pm
Gold jumps 1% Surpassing $ 2,000
Gold prices rose 1% to surpass the $ 2,000 mark on Tuesday, August 18, in light of the decline of the US currency to its lowest level in more than two years, and dealers ’focus on the minutes of the latest meeting of the US Federal Reserve scheduled for release …
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18 August 2020 3:09 pm
US Dollar Near Its Lowest Level in Two Years
The US dollar fell against a basket of major currencies for the fifth consecutive trading session Tuesday, August 18th, approaching its lowest level in two years under pressure from low bond yields and gloomy economic data in the US. The dollar has registered gains over the years, but the Coronavirus …
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18 August 2020 2:42 pm
Oil Retreating After gains Due to Production Cuts
Oil prices maintained most of last night’s gains, Tuesday, August 18, after the OPEC + group said that members had almost fully committed to the agreed production cuts to support prices amid a decline in fuel demand due to the Coronavirus pandemic. By 07:02 GMT, Brent crude was down 18 …
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18 August 2020 1:46 pm
European Shares Drop Amid US-Chinese Tensions and Covid-19 Cases
European stocks fell on Tuesday, August 18, as investors feared the escalation of US-Chinese tensions and the return of Coronavirus cases, which affected shares of companies sensitive to the economic cycle. The European Stoxx600 index fell 0.5% at 07:13 GMT, as banking, energy, insurance and auto stocks fell between 0.8 …
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18 August 2020 1:32 pm
Nikkei Drops And Political Uncertainty Discourages Risk
The Nikkei benchmark closed lower on Tuesday, August 18th, pulling away from the six-month peak it touched last week, as global political uncertainty led to risk aversion among investors. Nikkei lost 0.2% to 23,051.08 points, away from Friday’s 23,338 peak, the highest level since late February. The broader TOPIX index …
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18 August 2020 1:19 pm
Gold Futures: Room For Extra Upside
Traders increased their open interest positions in Gold futures markets by almost 3.5K contracts at the beginning of the week, according to flash data from CME Group. Volume, in the same line, reversed three consecutive pullbacks and went up by around 57.4K contracts. Gold now targets the 2020 topsPrices of …
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18 August 2020 12:30 pm
Russia’s Novak Tests Coronavirus Positive
Ahead of the OPEC and its allies (OPEC+) JMMC meeting scheduled on Wednesday, Russian Energy Minister Alexander Novak was tested positive for coronavirus. However, the Russian media suggested that the minister will participate in the OPEC+ meeting online, via a video link.
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18 August 2020 12:27 pm
Natural Gas Futures: Extra Pullbacks Appear Shallow
CME Group’s advanced prints for Natural Gas futures markets saw open interest shrinking by around 6.3K contracts at the beginning of the week after two builds in a row. In addition, volume extended the erratic performance and went down by around 288.3K contracts. Natural Gas met resistance around $2.40/MMBtuPrices of …
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18 August 2020 11:19 am
The Dollar is Falling Amid Anticipation of US Political And Economic Developments
The dollar fell while commodity currencies rose Monday (August 17th) as investors welcomed the delay in reviewing the US-China trade agreement without compromising it. Early transactions in London witnessed limited movements in light of a state of caution following weak data and uncertainty at the beginning of a week that …
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18 August 2020 2:08 am
Daily Recap: Monday, August 17, 2020
In the first day of the week, the dollar maintained its losses, while gold continued its rally and made its biggest daily gains since April. Meanwhile, oil finished the session higher after fluctuating amid uncertainty regarding demand outlook, while the bitcoin rose to its highest level since July 2019. Forex: …
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