Data released by the Australian Bureau of Statistics this morning showed that the trade balance in Australia recorded a surplus below expectations, as the surplus during June reached AUD8.20 billion, below the expected AUD8.80 billion. Remains better than May’s at AUD8.03 billion and revised to AUD7.34 billion. The trade balance …
Read More »Weekly Reap: Key Assets Have To Navigate Amid Uncertainties In Q4
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US stocks climb on upbeat sentiment after labour data
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Gold slides following US NFP
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US Dollar sees best trading week in two years following NFP print
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Goolsbee Lauds September’s Jobs Report
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EUR/USD dragged lower following upbeat US labour data
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European Shares Subdued as Middle East Tensions Loom, Oil Stocks Offer Resilience
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Dollar Holds Near Six-Week High Ahead of U.S. Jobs Report, Yen Surges After Turbulent Week
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Oil Prices Hold Steady Amid Middle East Tensions, Heading for Weekly Gains
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What can investors expect from looming NFP data?
As on the first Friday of every month, investors await the fresh NFP figures, The US economy is expe…
Market Analysis
August, 2020
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4 August 2020 11:29 am
Gold Futures Fell During The Asian Session
According to the COMEX of New York, gold futures for October traded at $ 1978.15/oz, down 0.17%. It was previously traded lower at $ 1977.05/oz. Gold may find support at $ 1941.70 and resistance at $ 1997.00. The dollar index, which measures the performance of the greenback versus a basket …
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4 August 2020 10:34 am
FX Option Expiries For Aug 4 NY Cut
FX option expiries for Aug 4 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1650 1.8bn1.1725 769m1.1750 827m – USD/JPY: USD amounts 105.75 401m106.00 521m106.07 444m – USD/CAD: USD amounts 1.3330 1.4bn1.3450 738m
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3 August 2020 11:58 pm
Oil Adds Nearly 2% on Industrial Data
Oil prices surged on Monday, supported by positive manufacturing and industrial data across the United States, Europe, and Asia. Brent crude futures rose by 63 cents or 1.5% to settle at $44.15 per barrel. Meanwhile, the U.S. benchmark West Texas Intermediate (WTI) crude futures rose by 74 cents or 1.8% …
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3 August 2020 11:29 pm
USD Sees Strong Gains on Economic Data
The U.S. Dollar Index (DXY), which measures the performance of the USD against a basket of six major currencies, registered strong gains on Monday. The gains of the USD came on the back of positive economic data that reflects an improvement in the American manufacturing sector and the US economy …
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3 August 2020 11:12 pm
Gold Narrows Gains Due to Higher USD
Gold prices rose on Monday, with increased demand for safe havens helping the yellow metal make its way to a new record high. Gold futures for December delivery rose by 0.3% to $1,992.10 per ounce, after trading as high as $2,009.50 per ounce. A strong performance by the US Dollar, …
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3 August 2020 10:46 pm
US Manufacturing PMI Signals First Growth since February
July saw an improvement in operating conditions of the manufacturing sector in the United States, the first since February due to the COVID-19 outbreak. Although growth was marginal, it stemmed from the first upturns in output and new orders for five months, as client demand picked up. The seasonally adjusted …
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3 August 2020 10:30 pm
How the BoE Finance Sector is Coping with COVID-19?
The Bank of England (BoE) recently said that both the central bank and the government must provide more incentives for insurance companies, as well as investment and pension funds to invest in companies that are recovering from negative effects of the COVID-19 crisis. The aim is to encourage finance for …
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3 August 2020 8:30 pm
US Manufacturing Activity Maintains Expansion in July
Manufacturing activity in the United States expanded during July, as shown by the Institute for Supply Management’s (ISM) data on Monday. The ISM industrial activity index registered 54.2 in July, compared with 52.6 in June. This is the best reading for the index since March 2019.
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3 August 2020 7:17 pm
Construction Spending in US at Year-Low
Construction spending in the United States declined in June to its lowest level in a year, as shown by the data of the U.S. Department of Commerce. Construction spending decreased by 0.7% to $1.355 trillion, May’s reading was revised from a 2.1% decline to 1.7%.
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3 August 2020 5:43 pm
Silver Fell After Historic Monthly Gain
Silver prices fell on the European market on Monday under pressure from the recovery of American currency levels against a basket of global currencies, at the beginning of August trading, after achieving the largest monthly gain in percentage in the history of trading the white metal in july. Silver prices …
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3 August 2020 5:31 pm
Russia Increases Oil Production While Reducing OPEC+ cuts
The source familiar with the data on Monday said that Russia’s production of oil and gas condensates increased to 9.8 million barrels per day in the first and second of August, compared to 9.37 million barrels per day in July amid reducing production cuts agreed within the framework of OPEC …
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3 August 2020 3:49 pm
Gold Jumps to All-Time High
Gold prices rose to an all-time high on Monday with the demand for the metal as a safe haven boosted by concerns over the economic implications of growing Covid-19 cases, but a rise in the dollar limited the gains. The spot of gold was stable at $ 1973.75 an ounce, …
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