The number of active US oil rigs decreased by four to 181 this week, according to data by Baker Hughes. It worth mentioning that the number of rigs drilling for crude oil in the US did not a single increased since mid-March.
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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10 July 2020 11:36 pm
European Stocks Up 0.5% for the Week
European stocks settled higher on Friday, supported by positive industrial data in France and Italy. The pan-European STOXX Europe 600 index closed up by 0.81% at 366.6 points, up by 0.50% for the week. In the London Stock Exchange (LSE), FTSE100 finished higher by 0.76%. Meanwhile, the French CAC40 index …
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10 July 2020 10:06 pm
Kaplan: Face Masks Could Speed Economic Recovery
President of the Federal Reserve Bank of Dallas, Robert Kaplan, has called for increased use of face masks across the United States to combat the spread of the coronavirus disease (COVID-19). “While monetary and fiscal policy have a key role to play, the primary economic policy from here is broad …
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10 July 2020 9:44 pm
IEA: COVID-19 Worst Impact on Oil Market Has Passed
The worst effects of the coronavirus pandemic on global oil demand may have passed, according to a report by the International Energy Agency (IEA) on Friday, the Wall Street Journal reported. However, the crisis will continue to leave its toll as markets slowly recover during the second half (H2) of …
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10 July 2020 9:17 pm
Moody’s: British Economy to Contract by 10%
Moody’s Investors Services expects the British economy to contract by 10.1% in 2020, despite the UK government’s recently announced GBP 30 billion stimulus package. In addition, the rating agency forecasts the public debt-to-GDP ratio to increase by 24% or more. Moody’s also foresees a gradual recovery with an expected growth …
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10 July 2020 7:56 pm
Federal Reserve Buys Apple and Ford Bonds
The US Federal Reserve has added $1.33 billion worth of bonds from individual companies on June 22-30, Reuters reported. The bond purchases included big company names, such as Apple, Walt Disney, and Ford Motor. The Fed has already bought $428 million worth of bonds bought as part of a large …
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10 July 2020 6:01 pm
Remdesivir Has Shown Good Results
Gilead Sciences Inc said that its antiviral drug has shown good results. Remdesivir greatly improves the clinical recovery of COVID-19 patients, which reduces the risk of death. The company stated that these results will need to be confirmed in upcoming clinical trials. Gilead Sciences Inc said that the data of 312 …
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10 July 2020 5:50 pm
US is Considering imposing Tariffs on French goods
According to some news reports on Friday, the United States is considering imposing tariffs of 500 to 700M dollars on French goods after escalation on the French side, imposing a taxes on major technology companies, including huge American companies. Reports indicated that this decision will be announced soon, and it …
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10 July 2020 5:30 pm
Canadian Unemployment Rate Falls to 12.3% in June
Net change in employment in Canada increased more than expected as Statistics Canada reported on Friday that net change in employment in Canada rose by 953,000 in June, bringing the unemployment rate down to 12.3% from 13.7% recorded in May. However, the unemployment rate came out worse than the market’s …
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10 July 2020 5:17 pm
US: Annual Core PPI Arrives at 0.1% in June
Annual core PPI in the U.S. fell more than expected in June, as data published by the US Bureau of Labor Statistics on Friday showed that US PPI for final demand decreased to -0.2% in June from 0.4% in May, on an annual basis. The index remained unchanged at -0.8% …
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10 July 2020 3:59 pm
France, Italy Factory Output Rebounds Sharply
France and Italy posted large rebounds in industrial production for May, providing some safety over the prospects for an economic recovery in Europe. French industrial production increased by 19.6% on a monthly basis, while Italy recorded 42.1%. It is worth noting that one of the most important industrial provinces of …
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10 July 2020 3:03 pm
EU’s Michel Discussing EU Budget, Recovery and Brexit With MEPs
European Council President Charles Michel is meeting with members of the European Parliament on Friday. The discussion focused on finding an agreement on a long-term EU budget of 1.074 trillion euros and a recovery fund of 750 billion euros for the worst-hit countries by the coronavirus pandemic. Reuters reported that …
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10 July 2020 2:25 pm
Hong Kong to Suspend Schools and Melbourne in lock-down.
Hong Kong authorities announced today the closure schools again on Monday, with increased cases of Covid 19, an indication of the full lockdown soon. The decision came after the number of infected people rose to 1,404 in Hong Kong after 34 new cases were recorded, which raised fears as there …
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