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Market Analysis

September, 2020

  • 29 September 2020 5:12 pm

    US Commodity Trade Deficit Widened in August

    The merchandise trade deficit widened in the United States in August, as imports rose as companies rebuild stocks that ran out when the coronavirus pandemic severely affected the flow of goods. The US Commerce Department said the commodity trade deficit increased 3.5% to $ 82.9 billion last month. Merchandise imports …

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  • 29 September 2020 4:37 pm

    Germany: Annual HICP Drops to -0.4% in September

    Inflation in Germany, as measured by the Consumer Price Index (CPI), was -0.2% (preliminary) in September, the data published by Destatis showed on Tuesday. This reading followed August’s print of -0.1% and came in lower than the market expectation of -0.1%. On a yearly basis, the CPI declined to -0.2% …

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  • 29 September 2020 3:34 pm

    Eurozone Sentiment Improved More Than Expected in September

    Data revealed that the economic sentiment of the Eurozone improved better than expected in September, mainly due to the increase in optimism in the services sector despite concerns about a second wave of the Covid-19 pandemic. And a monthly survey by the European Commission in the 19-nation Eurozone showed that …

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  • 29 September 2020 2:52 pm

    Oil Declining And Demand Concerns Outweigh Hopes For US Stimulus

    Oil prices fell on Tuesday, September 29, erasing gains from the previous session, while chronic demand concerns due to the Corona pandemic outweighed hopes generated by a new US stimulus package that lawmakers find difficult to agree on. US West Texas Intermediate crude futures fell 34 cents, equivalent to 0.8%, …

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  • 29 September 2020 1:29 pm

    European Shares Drop Ahead of Trump-Biden Debate

    European stocks fell at the open Tuesday, September 29th, as the recovery from the previous session faded as investors remain cautious before the first US presidential debate. The European Stoxx600 index fell 0.5% in early trade after posting its biggest daily gain in three months on Monday. Growth-sensitive stocks, including …

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  • 29 September 2020 12:38 pm

    Turkish Lira Reaches Fresh Low Before Announcing an Economic Program

    The Turkish lira hit a new record low against the dollar on Tuesday (September 29th), as investors assess the repercussions of conflict in the Caucasus and await a new medium-term economic program to be announced by Finance Minister Barat Albayrak. The lira hit a record low of 7.8450 against the …

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  • 29 September 2020 11:54 am

    Markets Await Biden-Trump First Presidential Debate

    Markets await the presidential debate in the United States between Trump and Biden, scheduled for Tuesday, September 29. The debate will occur on Tuesday night and Wednesday morning for European time, meaning we may not feel the market affected until later on Wednesday. FT’s polls indicate Biden is on track …

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  • 29 September 2020 11:27 am

    Japan Shares Close Higher, All Eyes on The Presidential Debate

    Japanese stocks closed at a seven-month high on Tuesday, September 29, tracking the impact of US stocks, which rose last night due to investors buying shares that plunged sharply with a sharp decline in the stock market last week, while all eyes turned to the presidential debate between Trump and …

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  • 29 September 2020 10:49 am

    Gold Settles as US Dollar Weakens Ahead of Trump And Biden Debate

    Gold prices stabilized on Tuesday, September 29, with the dollar retreating from its highest level in two months, as investors look to the first US presidential debate and the developments of a new bill for coronavirus aid in the United States. There was little change in the yellow metal in …

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  • 29 September 2020 10:38 am

    PBOC Fixes Yuan Mid-Point Against USD at 6.8171

    People Bank of China fixed the Yuan Mid-Point against the US dollar At 6.8171 (est 6.8133). China’s central bank is also to inject 100 bln yuan via 14-day reverse repos. The fixing restricts the onshore yuan’s daily moves to 2% on either side of it

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  • 29 September 2020 10:36 am

    FX Option Expiries For Sept 29 NY Cut

    FX option expiries for Sept 29 NY cut at 10:00 Eastern Time, via DTCC, can be found below. EUR/USD: EUR amounts 1.1600 512m USD/JPY: USD amounts 104.75 376m105.00 2.6bn105.10 375m105.30 685m105.32 444m105.35 404m NZD/USD: NZD amounts 0.6580 343mEUR/GBP: EUR amounts 0.9155 571m

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  • 29 September 2020 1:39 am

    Wall Street Closes on Large Gains

    The New York Stock Exchange (NYSE) closed higher on Monday, starting the week with huge gains amid improved investors sentiment amid anticipation for a new stimulus package in the United States. Energy, tech, and banks stocks led the gains on the first session of the week supporting the rise of …

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  • 29 September 2020 1:31 am

    Oil Closes Higher on Stimulus Hopes

    Oil prices closed higher on Monday, amid increased hopes for a new economic stimulus package in the United States. However, rising concerns about the increasing number of COVID-19 cases in many countries limited the gains of crude prices. Brent crude futures closed higher by 51 cents, or 1.22%, at $42.43 …

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