Ripple is being sued for selling its XRP token in an unregistered securities offering, the Coin Telegraph reports. A number of class-action lawsuits have been reportedly filed against Ripple in recent months. In addition, former Chairman of the Commodity Futures Trading Commission (CFTC), Chris Giancarlo, is arguing in a recently …
Read More »Eurozone Manufacturing Sector Contracts Further in June as Demand Slumps
The eurozone’s manufacturing sector experienced a deeper contraction in June, as demand plumme…
Gold Prices Wobble as Fed Signals and Mixed Economic Data Create Uncertainty
Gold prices experienced a slight dip in Asian trading on Monday, hovering within a narrow range as t…
Asian Stocks Waver as Chinese PMIs Clash and U.S. Rate Uncertainty Lingers
Asian stocks experienced a mixed session on Monday, with most indices hovering within a flat-to-low …
Financial Markets’ Weekly Recap: Traders closely watch Fed’s signals
In this report, we take a look back at the latest five trading days with a focus on the market news,…
US Dollar below 106.00 after PCE data
The US dollar is preparing for French elections risk over the weekend, with early recovery thanks to…
Nike stock declines following earnings report
Nike shares declined in early Friday trading, setting up the stock for a loss of around $21 billion.…
May Inflation Cools, Raising Hopes for Fed Rate Cuts
U.S. inflation eased in May, matching economists’ expectations and potentially bolstering the …
Britain’s Economy Rebounds in Q1, But Long-Term Growth Woes Cloud Election Outlook
Key Points: Stronger Rebound: Britain’s GDP grew by 0.7% in Q1 2024, exceeding initial estimat…
U.S. Stock Futures Rise, Capping Strong First Half, Ahead of Key Inflation Data
U.S. stock index futures climbed on Friday, marking a robust first half of the year, as investors aw…
Gold Prices Tread Water Ahead of Crucial U.S. Inflation Data
Gold prices experienced a slight dip in Asian trading on Friday, remaining within a tight range as t…
Market Analysis
July, 2020
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3 July 2020 9:42 pm
French President Macron Names New PM
Jean Castex will lead a new French government, after being named by President Emmanuel Macron as prime minister. Macron, who was elected in 2017, promised a cabinet reshuffle in recent days to focus on recovery from the negative economic impacts of the COVID-19 pandemic. The new Prime Minister of France, …
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3 July 2020 9:09 pm
European Stocks Post 1.8% Weekly Rise
European stocks declined on Friday, despite recent PMI data showing recovery signs in the Eurozone, as well as the in the US and China. The pan-European STOXX Europe 600 index closed down by 0.93% at 364.86, but up by 1.83% for the week, despite giving up some of its gains …
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3 July 2020 8:45 pm
NZD Rises on Improved Risk Appetite
The New Zealand Dollar (NZD) is showing a strong performance against major currencies, supported by improved risk appetite. Positive indicators from European PMI reports showed that June saw the best economic activity since the beginning of the COVID-19 pandemic. Gains by Asian stock markets also helped push the risk appetite …
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3 July 2020 8:29 pm
Calvino: COVID-19 EU Debts Must Be Repaid
All the debt issued by the European Union (EU) to help its member states in the fight against the coronavirus disease (COVID-19) pandemic will eventually be paid back, according to Spain’s Minister of Economy Nadia Calvino. “The long-term sustainability of the debt is guaranteed and we are making plans and …
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3 July 2020 7:26 pm
British Services Sector Shows Strong Recovery Signs
The headline seasonally adjusted IHS Markit/CIPS UK services purchasing managers’ index (PMI) for business activity posted 47.1 in June, up from its level in May at 29, reaching its highest level in four months. The index survey showed that around 33% of participants reported a drop in business activity during …
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3 July 2020 6:39 pm
Eurozone PMI Maintains Road to Recovery
The Eurozone purchasing managers’ composite output index (PMI) maintained its recovery for the second consecutive month, recording 48.5 in June, rising by 17 points compared to its level in May at 31.9. This is the best level for the Eurozone index in four months, since the beginning of the coronavirus …
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3 July 2020 6:09 pm
Oil had a good week and heading to record weekly gains
With US markets closed this Friday in celebration of Independence Day holiday, oil prices enjoyed a good week and gained more than 4%. According to Reuters, oil fell below 43 dollars/barrel on Friday on the back of the increased numbers of coronavirus infections in the US. However, it noted that …
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3 July 2020 5:51 pm
S&P 500 Continued To Recover
S&P 500 continued to recover during Q2 from its slump in Q1. The largest sectors that struggled against the recession and were not on the index were: health care, communication services, information technology and consumer discretionary. Top 5 companies are in the S&P 500 and represent most of the recent …
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3 July 2020 5:34 pm
EUR/JPY Remains in a Narrow Range
The risk aversion provides some strength to Yen, safe-haven currency, which maintains the bullish trend for EUR/JPY in 121.00 regions. EUR/JPY fell for a second consecutive session with low trading volume due to the Independence Day holiday in the United States. Investors continue to evaluate the latest data besides Covid-19 …
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3 July 2020 4:28 pm
European Commission Grants Conditional Clearance to Remdesivir
The European Commission has granted a conditional clearance to use Gilead Sciences’ Remdesivir to treat Covid-19 This decision came after the European Medicines Agency’s “rolling review” that started at the end of April. The Commission had previously stated that it was negotiating with Gilead to purchase sufficient doses for European …
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3 July 2020 3:56 pm
Eurozone Plunge Eased Amidst Reopening Operations
The plunge in eurozone business activity caused by lockdowns imposed to stop the spread of the coronavirus eased sharply last month as more businesses reopened and people ventured out, Reuters reported on Friday, citing a survey. Further details A June Reuters poll predicted the economy contracted an unprecedented 12.5% last …
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3 July 2020 3:08 pm
Decline in business Activities in Europe Slow Down
Friday’s survey showed that the decline in business activities in Eurozone had receded sharply, the recent decline as a result of public isolation measures to halt the spread of Corona as more companies resume their activities. Nearly 11 million people worldwide have been infected with Covid-19, but the restrictions have …
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