The two former chairs of the US Federal Reserve have warned that the pace of economic recovery could be slow and uneven, calling for a robust response from legislators to combat the COVID-19 pandemic and its impact, Reuters reported. Former Chair of the Federal Reserve, Janet Yellen, said that not …
Read More »US stocks climb on upbeat sentiment after labour data
The US added far more jobs than expected in September. Market hopes for a follow-up jumbo cut from t…
Gold slides following US NFP
Gold prices are back in the positive territory after a steep selloff after the US NFP data, and trad…
US Dollar sees best trading week in two years following NFP print
The US Dollar jumps higher after a massive positive Nonfarm Payrolls print. Tensions in the Middle E…
Goolsbee Lauds September’s Jobs Report
Interviewed at Bloomberg, Chicago Fed President Austan Goolsbee said on Friday that he considered th…
EUR/USD dragged lower following upbeat US labour data
EUR/USD slides below 1.1000 after robust US labor market growth. The EUR/USD pair falls sharply belo…
European Shares Subdued as Middle East Tensions Loom, Oil Stocks Offer Resilience
European shares remained subdued on Friday as investors weighed the risks of an expanding conflict i…
Dollar Holds Near Six-Week High Ahead of U.S. Jobs Report, Yen Surges After Turbulent Week
The U.S. dollar hovered close to a six-week high on Friday, bolstered by safe-haven demand amid risi…
Oil Prices Hold Steady Amid Middle East Tensions, Heading for Weekly Gains
Oil prices were relatively unchanged on Friday but remained on track for significant weekly gains as…
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…
After Major Crash, Bitcoin Remains Resilient
Bitcoin’s price has remained relatively stable despite the escalating Middle East crisis. Whil…
Market Analysis
July, 2020
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18 July 2020 1:13 am
NYSE Ends Week in Gains
The New York Stock Exchange (NYSE) saw a mixed performance on Friday, but recorded weekly gains despite the investors’ concerns as the number of COVID-19 cases across the US keep increasing. The Dow Jones Industrial Average settled lower for the second session in a row by 0.23%, narrowing its weekly …
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18 July 2020 12:50 am
Oil Futures Settle Lower by 0.5%
Oil prices declined on Friday, but settled nearly unchanged for the week, in the absence of major economic data and the continuing uncertainty regarding the recovery of both the demand for crude oil and the global economy at large. Earlier today, data by Baker Hughes showed that the number of …
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18 July 2020 12:21 am
Gold Maintains Rising Streak for Sixth Week
Gold prices settled higher on Friday by around $10, recording small weekly gains but stretching its upward trend for the sixth consecutive week. Today’s rise in the yellow metal’s prices were supported by the decline of the US Dollar. The price for Gold futures for August delivery increased by $9.70, …
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17 July 2020 10:24 pm
European Stocks Record Weekly Gains
European stocks closed Friday on small gains, with anticipation for the results of the European Union’s (EU) summit, which is set to discuss the economic stimulus package to help the bloc’s troubled economies due to the COVID-19 crisis. The pan-European Stoxx 600 index increased by 0.15% to settle at 372.70, …
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17 July 2020 9:22 pm
USD/CAD Moving Within Small Range
The USD/CAD pair has stabilized on Friday, with the Canadian Dollar (CAD) supported by the increase in wholesale sales, while the US Dollar (USD) is supported by the rise in housing starts, despite a retreat in the consumer sentiment. During today’s trade, the pair has reached a high of 1.35892 …
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17 July 2020 6:50 pm
Michigan Consumer Sentiment Index Declines in June
The University Of Michigan Survey Of Consumers showed that the consumer sentiment index declined in the first half of July due to the widespread resurgence of the coronavirus disease (COVID-19). After the index increased in June, its reading was reversed, leaving the sentiment index in early July insignificantly above the …
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17 July 2020 6:21 pm
Canadian Wholesale Sales Grow 5.7% in May
Wholesale sales in Canada increased over the month of May by 5.7% to $52.6 billion, data by Statistics Canada showed on Friday. This comes after wholesales sales fell during April, due to the outbreak of the coronavirus disease (COVID-19), by 21.4%. However, May’s reading missed market expectations which suggested an …
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17 July 2020 6:10 pm
Wall Street Set to Open Higher
Key Wall Street indices are set to open higher on Friday, as investors optimistic about more official stimulus to push the post-epidemic economic recovery even with record numbers increasing in COVID-19 cases. Dow e-minis were up 157 points, or 0.59%. S&P 500 e-minis were up 21.5 points or 0.67% and …
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17 July 2020 6:02 pm
Eurozone Inflation Rises 0.3% in June
The consumer price index (CPI) in the Eurozone increased during June by 0.3%, as shown by data from Eurostat. The rise in inflation rate to 0.3%, comes after it neared a four-year low of 0.1% in May. The European Central Bank (ECB) continues to target an inflation rate in the …
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17 July 2020 5:21 pm
US Housing jump in June
Homebuilding in the U.S. increased in June with reports of rising demand for housing in low-density areas as companies allowed employees to work from home due to the pandemic. On Friday, the Ministry of Commerce said housing starts rose 17.3% to a seasonal annual rate of 1.186M. May data was …
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17 July 2020 5:13 pm
New Record For Covid-19 Cases in US
The United States set a new record in the number of new cases of Covid-19, with 77,300 new cases recorded on Thursday, bringing the total number of current cases to over 3.5 million in the United States.The number of deaths associated with Covid 19 rose to 924, the highest since …
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17 July 2020 4:32 pm
European Council Meeting For Two Days to Discuss The Economy Rescue Package
EU leaders are meeting Friday and Saturday in Brussels to discuss the recovery plan to respond to the COVID-19 crisis and a new long-term EU budget. This is the first physical meeting since the coronavirus pandemic started. The meeting will be dedicated to discussing the multiannual budget of the EU …
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