Russia is expecting a strong recovery in the global demand for oil, according to the Russian Minister of Energy, Alexander Novak, Reuters reported. The minister said on Thursday that a significant rise in August could see demand improve to 10% below the pre-COVID-19 levels. Demand was nearing 100 million barrels …
Read More »Weekly Reap: Key Assets Have To Navigate Amid Uncertainties In Q4
Most financial market entered Q4 with a volatile earthquake, largely due to the heightened uncertain…
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…
Market Analysis
July, 2020
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16 July 2020 11:49 pm
Gold Settles Lower but Maintains $1,800 Level
Gold prices declined on Thursday to their lowest closing level in about a week, as the US Dollar (USD) strengthened despite the number of US jobless claims for last week exceeding market expectations. However, the yellow metal was able to maintain the $1,800 level. Gold futures for August dropped by …
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16 July 2020 11:33 pm
Trump to Remain on Twitter After Hack
The President of the United States, Donald Trump, will remain on Twitter, White House spokeswoman, Kayleigh McEnany told reporters on Thursday. This comes after Bitcoin scammers hacked earlier today a number of major accounts on the social media platform, including the accounts of Bill Gates, Barack Obama, and Elon Musk, …
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16 July 2020 10:11 pm
Canada’s Payrolls Rise 1.04 M in June
Employment in Canada increased by about 1.043 million jobs in June, compared to May, according to the June ADP Canada National Employment Report. Although jobs in manufacturing decreased by 57,000, jobs in construction increased by 171,000. Meanwhile, the largest increase was in the trade, transportation, and utilities with 347,200 new …
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16 July 2020 9:53 pm
European Stocks Settle Lower
European stocks closed lower on Thursday after the European Central Bank (ECB) decided to maintain its main interest rates unchanged. The ECB also plans to maintain its Pandemic Emergency Purchase Program (PEPP), as the President of ECB, Christine Lagarde told reporters earlier today. The pan-European Stoxx 600 index declined by …
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16 July 2020 8:20 pm
Lagarde: EU Recovery Fund to Favor Loans
The European Central Bank (ECB) is expecting the European Union (EU) to prefer grants over loans as a funding mechanism for its anticipated economic stimulus fund against the impacts of COVID-19, said ECB President Christine Lagarde, Reuters reported. “Our assumption is that the recovery fund will come about and will …
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16 July 2020 6:35 pm
US Jobless Claims Register 1.3 M in Week
A total of 1.3 million people have filed for unemployment benefits in the United States last week, according to data by the US Department of Labor on Thursday. The number beats market expectations of 1.25 million applications. However, the number showed a slight decline compared to the previous week, which …
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16 July 2020 6:29 pm
US Retail Sales Up 7.5% in June
Retail sales in the United Stated increased by 7.5% in June, beating market expectations, according to data by the US Department of Commerce on Thursday. The growth in retail sales is attributed to many businesses reopening, as restrictions against the coronavirus (COVID-19) were eased across many states. In May, retail …
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16 July 2020 6:01 pm
Cryptocurrency in a Sea of Red
The cryptocurrency market shook profoundly and drowned in red during the European session on Thursday, and many cryptocurrencies broke through the support levels, while Bitcoin approached the psychological barrier of $ 9000. Bitcoin was at $ 9,080, down 1.3% on a daily basis since the beginning of the day. The …
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16 July 2020 5:26 pm
US: 1.3M Jobless Claims, Exceeding Estimates
Labor Department data released on Thursday showed that the number of people making initial claims for unemployment benefits in the United States. The reading is slightly worse than the market expectation of 1.25M, but almost unchanged from last week’s reading at 1.310 million, revised from 1.314M previously reported. 4 week …
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16 July 2020 4:38 pm
ECB Leaves Key Rates Unchanged
At its monetary policy meeting held on July 16th, the Governing Council of the European Central Bank (ECB) decided to leave the interest rates on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.50%, respectively, as …
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16 July 2020 4:19 pm
Data Releases Today
The ECB rate decision on Thursday just came out. As expected, the central bank leaves the interest rates unchanged. Later today, we will be looking at the June retail sales report from the United States. It’s expected to post a 5.0% rise after a 17.7% rise in May. We will …
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16 July 2020 3:34 pm
China’s GDP Rebounds in Q2
Official data released early in the morning showed that the Chinese economy witnessed a boom in the processes of reopening the economy and expanding in the post-Covid-19 period in Q2 with the expansion of the country’s manufacturing sector. Q1 annual GDP came in at + 3.2%, exceeding analyst expectations at …
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