DBS, of the largest commercial banks in Singapore, announced the soft launch of the proprietary crypto-to-fiat cryptocurrency trading platforms. At the initial stages, the users will have access to the four largest digital assets: BTC, BCH, ETH, XRP. They will be available for trading against Singapore Dollar (SGD), Hong Kong …
Read More »Mark Carney Takes the Helm: Canada’s New PM Faces Trump and Global Trade Challenges
Newly-appointed Canadian Prime Minister Mark Carney officially assumed office on Friday morning, suc…
Oil Gains Amidst Geopolitical Tempest and Shifting Demand Forecasts
Despite a week dominated by fluctuating geopolitical tensions and evolving economic forecasts, oil p…
Fresh Deadline Drama: Senate Poised to Avert Shutdown
Funding Bill on the Brink of PassageThe Senate is set for a pivotal test vote this afternoon on the …
PPI Shadowed: GBP/USD Wobbles Amid GDP Shock and Surging US Inflation Fears
The Pound Sterling (GBP) faced renewed pressure against the US Dollar (USD) this week, with GBP/USD …
Changpeng Zhao Denies Ties of Trump Family Ties and Binance Amid Controversy
Changpeng Zhao (CZ), the founder and former CEO of Binance, the globe’s largest cryptocurrency…
Gold Shatters $3,000 Barrier: Historic Safe-Haven Surge Amid Global Uncertainty
In a landmark moment, gold prices surged past the $3,000 per ounce threshold on Friday, marking an a…
Bristol Myers Squibb Gains Expanded EU Approval for CAR-T Therapy Breyanzi
The European Commission has granted Bristol Myers Squibb (NYSE: BMY) an expanded approval for its CA…
Forex Market Overview: Yen Weakens, Pound Slips, Dollar Recovers
The Japanese yen weakened on Friday after concluding union wage negotiations, while the British poun…
Oil Prices Rebound as Ukraine Conflict Persists, Trade War Concerns Loom
Oil prices bounced back on Friday, recovering some of the previous session’s losses, as the Uk…
Gold Prices Hold Near Record Highs Amid Trade Tensions, Rate Cut Expectations
Gold prices remained steady at all-time highs in Asian trading on Friday, driven by escalating U.S.-…
Market Analysis
October, 2020
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27 October 2020 3:56 pm
Bitcoin Breaks the $ 1,300 Barrier
Bitcoin trading witnessed positive moves during Tuesday to breach levels of $ 1300, its highest level in 2020. Bitcoin rose, the world’s first electronic currency, by 2.58% to $ 13,442, its highest ever in 2020.
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27 October 2020 2:42 pm
Dollar Holds Onto Its gains on Fears of Covid-19 And Uncertainty
The dollar held on to its gains Tuesday, but the rest of the safe-haven currencies witnessed quiet transactions as investors were reluctant to form positions before the US presidential elections scheduled for next week, even as concerns grow about the second wave of Covid-19 and its economic effects. On Monday, …
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27 October 2020 1:49 pm
Interior Minister: France Must Prepare For “Difficult Decisions”
French Interior Minister Gerald Darmanin said on Tuesday, ahead of a cabinet meeting to discuss the outbreak of the Coronavirus, that France should prepare to take “difficult decisions” related to imposing new measures to cope with the rise in Covid-19 cases. Three sources familiar with the matter said that the …
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27 October 2020 1:27 pm
Money Supply Growth Beats Estimates in Eurozone
The rate of money supply in the Eurozone increased in September, more than analysts had expected. And data released by the European Central Bank today showed that the money supply in the Eurozone recorded a growth of 10.4% in September, compared with 9.5% growth in August. Analysts had expected that …
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27 October 2020 12:44 pm
Gold Rises as a New Wave of Infections Casts a Shadow Over the Economic Recovery
Gold prices rose on Tuesday as a new wave of infections with the Coronavirus threatened to slow the global economic recovery from the Covid-19 pandemic, adding to the appeal of the yellow metal as a safe haven. Gold spot 0.2% to 1,906.83 dollars an ounce. In US futures trading, it …
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27 October 2020 12:23 pm
Oil Steadies But Outlook is Bleak
Oil prices rose on Tuesday after recent sharp losses, but market sentiment remains weak as high COVID-19 cases hurt the outlook for fuel demand while supplies rise. And Brent crude rose 42 cents, or the equivalent of 1%, to 40.88 dollars a barrel. U.S. crude gained 37 cents, or 1%, …
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27 October 2020 2:24 am
NYSE Closes in Red off Session Lows
The New York Stock Exchange (NYSE) declined on Monday, opening the week with a negative performance despite recovering from some of its earlier losses in the day, amid concerns about the increased number of new COVID-19 cases. The Dow Jones Industrial Average closed lower by 650.19 points, or 2.3%, at …
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27 October 2020 1:33 am
US Treasury Yields Decline As Demand Soars
Treasury yields in the United States declined on Monday as demand for safe havens increased amid a surge in new COVID-19 cases. Return on the 10-year Treasury bonds decreased by 2.5 basis points to 0.816%. As for the 30-year bond yield, it declined by 3.7 basis points to 1.609%. Meanwhile, …
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27 October 2020 1:17 am
USD Rises as Demand for Safe Havens Increases
The US Dollar rose on Monday amid an increased demand for safe havens, which is due to a surge in new COVID-19 cases. In addition, stalling talks for a new stimulus package in the United States further advanced demand, which helped the USD maintains its rising trend that started at …
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27 October 2020 12:24 am
Oil Finishes at Three-Week Low
Oil prices declined on Monday, finishing the first session of the week at its lowest level in about three weeks. A surge in new COVID-19 cases is raising concerns about demand and economic recovery, especially in the United States and Europe. Brent crude futures for December delivery lost $1.31, or …
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27 October 2020 12:08 am
Gold Closes Marginally Higher as USD Rises
Gold prices rose on Monday for the fifth time in six sessions, supported by increased demand for safe havens, amid a surge in new COVID-19 cases. The rise in the yellow metal prices came despite the US Dollar (USD) rising across the board. Gold futures for December delivery closed marginally …
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26 October 2020 11:44 pm
US Appeals WTO Ruling on China Tariffs
The United States is appealing against a recent ruling by the World Trade Organization (WTO) that considered American tariffs imposed on China in 2018 as a breach to global trade rules, Reuters reported on Monday. Last month, a WTO panel ruled that there was no justification for the imposed tariffs.
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