Treasury yields declined for the second consecutive day on Tuesday, with increased worries regarding the pace of economic recovery as COVID-19 cases in the United States increase. The 10-year Treasury notes yield decreased by 2 basis points (bps) to 0.611%, while the yield on the 30-year bonds declined by 4 …
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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14 July 2020 9:42 pm
California Begins Another COVID-19 Lockdown
The state of California began reapplying the lockdown announced on Monday by Governor Gavin Newsom. The new statewide directives will see all restaurants, bars, movie theaters, entertainment centers, zoos and museums close their indoor operations. In addition, the state is closing gyms and fitness centers, worship places, salons and barbershops, …
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14 July 2020 7:58 pm
Swiss Central Bank Away from Normal Rates
The Swiss National Bank (SNB) will maintain its current negative interest rates, according to its Chairman, Thomas Jordan. “I fear it will take some time before we get there again,” Jordan said on Tuesday, as quoted by Reuters. The remarks came during a webinar with the International Monetary Fund (IMF). …
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14 July 2020 6:42 pm
US Budget Deficit Surges to $864 B in June
The US federal budget deficit increased to $864 billion in June with increased spending on COVID-19 stimulus and relief programs coupled with reduced taxes, data by the US Department of Treasury showed. The year-to-date fiscal deficit stands at $2.7 trillion, Reuters reported. Expenditure increased by 223% to $1.1 trillion, a …
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14 July 2020 5:58 pm
Opec: Oil Demand Will Rise to a Record In 2021
OPEC reported in its monthly report that global oil demand will rise to a record level of 7M bpd in 2021 as the economy recovers from Covid-19 crisis, but will remain below 2019 levels. This is the first report in which OPEC evaluates the oil markets next year and said …
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14 July 2020 5:52 pm
Wells Fargo Reports Quarterly Losses
Wells Fargo reported quarterly losses for the first time since the financial crisis in 2008. The COVID-19 crisis forced to write off 9.57B to cover potential loan losses. Wells Fargo reported a loss of $ 2.4B, or 66 cents a share, in the second quarter ending June 30, compared to …
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14 July 2020 4:58 pm
US Consumer Prices Rebound in June
The Labor Department said on Tuesday that the consumer price index rose 0.6% last month after falling 0.1% in May in the 12 months to June, the lowest annual increase since September 2015. Economists who participated in the Reuters poll expected the CPI to rise 0.5% in June and rise …
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14 July 2020 4:03 pm
JPMorgan Q2 Beats Expectations
JPMorgan, the largest bank in USA, was the first to release Q2 earnings report among the three largest banks in the United States, reported that the bank’s net profit fell by nearly half, due to a $ 10.8B charge for provisions against bad loans. However, the report came stronger than …
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14 July 2020 3:50 pm
US Stocks Set to Open Little Higher
US stocks are set to open with a modest rebound after its sharp losses on Monday over California headlines about COVID 19 cases, although bank quarterly earnings reports due later may be a game-changer. At 11:40 GMT, S&P 500 Futures trader 13 points, or 0.4%, higher, Nasdaq Futures up 48 …
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14 July 2020 3:08 pm
China’s Crude Oil Imports Increased For The Second Month
Chinese customs data showed that China’s imports of crude oil jumped 34% in June on an annual basis; this is the record for the second month in a row next to the arrival of shipments purchased during the collapse of oil prices last April to Chinese ports. Data showed that …
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14 July 2020 2:16 pm
Australia’s NAB Business Confidence Index Climbed In June
Data released by NAB Institute revealed that Australia Business Confidence increased in June. To exceed zero levels for the first time in more than 6 months. Australia’s NAB’s business confidence unexpectedly rose to 1.0 in June, defying market forecast for a drop to a level of -87.0 and compared to …
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14 July 2020 1:41 pm
German ZEW Misses Estimates
Data released on Tuesday showed that the German ZEW Economic Sentiment Index came in at 59.3 versus 60.0 expected and 43.4 last. While the sub-index Current Conditions figure arrived at -80.9 in July compared to -65.0 expected and -83.1% previously recorded. Meanwhile, the Eurozone ZEW economic sentiment for July came …
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14 July 2020 12:48 pm
UK Manufacturing Production Rebounds
Data published by the Office for National Statistics (ONS) showed that the general situation in the industrial sector improved for May in UK. Manufacturing production grew to + 8.4% on a monthly basis in May, against expectations of -20.9% and -24.4% in April, while total industrial output grew by + …
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