The European Central Bank said in a publication on Thursday that the unemployment rate will continue to rise in the Eurozone and that there is a limited increase in consumer demand even as the economy recovers from an unprecedented recession. In the bulletin, which largely reflects the economic expectations and …
Read More »Mark Carney Takes the Helm: Canada’s New PM Faces Trump and Global Trade Challenges
Newly-appointed Canadian Prime Minister Mark Carney officially assumed office on Friday morning, suc…
Oil Gains Amidst Geopolitical Tempest and Shifting Demand Forecasts
Despite a week dominated by fluctuating geopolitical tensions and evolving economic forecasts, oil p…
Fresh Deadline Drama: Senate Poised to Avert Shutdown
Funding Bill on the Brink of PassageThe Senate is set for a pivotal test vote this afternoon on the …
PPI Shadowed: GBP/USD Wobbles Amid GDP Shock and Surging US Inflation Fears
The Pound Sterling (GBP) faced renewed pressure against the US Dollar (USD) this week, with GBP/USD …
Changpeng Zhao Denies Ties of Trump Family Ties and Binance Amid Controversy
Changpeng Zhao (CZ), the founder and former CEO of Binance, the globe’s largest cryptocurrency…
Gold Shatters $3,000 Barrier: Historic Safe-Haven Surge Amid Global Uncertainty
In a landmark moment, gold prices surged past the $3,000 per ounce threshold on Friday, marking an a…
Bristol Myers Squibb Gains Expanded EU Approval for CAR-T Therapy Breyanzi
The European Commission has granted Bristol Myers Squibb (NYSE: BMY) an expanded approval for its CA…
Forex Market Overview: Yen Weakens, Pound Slips, Dollar Recovers
The Japanese yen weakened on Friday after concluding union wage negotiations, while the British poun…
Oil Prices Rebound as Ukraine Conflict Persists, Trade War Concerns Loom
Oil prices bounced back on Friday, recovering some of the previous session’s losses, as the Uk…
Gold Prices Hold Near Record Highs Amid Trade Tensions, Rate Cut Expectations
Gold prices remained steady at all-time highs in Asian trading on Friday, driven by escalating U.S.-…
Market Analysis
September, 2020
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24 September 2020 3:30 pm
Turkey: CBRT increases policy rate by 200 basis points to 10.25%
The Central Bank of the Republic of Turkey (CBRT) announced on Thursday that it raised its policy (one-week repo) rate by 200 basis points to 10.25%. In its policy statement, the CBRT noted that it looks to restore the disinflation process and support price stability with the decision to hike …
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24 September 2020 2:16 pm
German IFO Business Climate Index Misses Estimates
The headline German IFO Business Climate Index came in at 93.4 in September, stronger than last month’s 92.6 while missing the consensus estimates pointing to a reading of 93.8. Meanwhile, the Current Economic Assessment arrived at 89.2 points in the reported month as compared to last month’s 87.9 and 89.5 …
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24 September 2020 2:03 pm
Global sales Push European Stocks to a 3-month Low
The Stoxx600 index of European shares fell 1% by 0711 GMT, reaching its lowest level since June 26, while the Frankfurt, London and Paris stock exchanges fell between 0.6% and 1%. Wall Street indices posted big losses yesterday, led by technology stocks after officials in the Federal Reserve (US Central …
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24 September 2020 1:15 pm
Nikkei Index Drops Weighed by Coronavirus Concerns
Japanese stocks fell, affected by a widespread sell-off in global stocks Thursday, September 24th, after concerns about their high valuation and an increase in virus cases. The pressure on stocks was increased by uncertainty over the US presidential election, as President Donald Trump declined to comment on a peaceful transfer …
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24 September 2020 12:25 pm
Demand For US Dollar Rises as Stocks Decline
The dollar held on to its gains against most currencies on Thursday, after signs of an economic slowdown in Europe and the United States revived concerns about the repercussions of the second wave of coronavirus infections. The Euro, already hit by fears of a return to tight lockdown measures, faces …
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24 September 2020 11:36 am
SNB maintains key rate at -0.75%
The Swiss National Bank (SNB) board members left the monetary policy settings unchanged at its September quarter monetary policy assessment this Thursday The SNB left the benchmark sight deposit rate unchanged at -0.75%. The central bank maintained the 3-Month Libor Target Range steady between -1.25% to -0.25%, as widely expected. …
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24 September 2020 11:21 am
Lira Hits a Fresh Low Ahead of CBRT Decision
The Turkish lira slumped to a new record low against the US dollar, as investors cautiously await the outcome of the central bank’s policy meeting, which is expected to leave the key interest rate pending. A Reuters poll of 17 economists showed that the bank was keeping its repurchase rate …
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24 September 2020 11:00 am
Gold Extends Losses For The Fourth Day on Higher US Dollar
Gold fell Thursday, September 24th, to its lowest level in more than two months, on dollar’s rally, while investors were concerned about the uncertainty surrounding additional stimulus measures to support the slowing economic recovery in the United States. This fell gold in immediate transactions 0.7% to 1851.51 dollars an ounce …
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24 September 2020 10:18 am
PBOC Sets Yuan Reference Rate at 6.8028
The People’s Bank of China (PBOC) has set the yuan reference rate at 6.8028 versus Wednesday’s fix at 6.7986.
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24 September 2020 1:10 am
Wall Street Closes in Red
Wall Street ended Wednesday’s trading in decline, after recent remarks by US Federal Reserve officials signaled maintaining interest rates near 0% for the coming three years, as well as concerns among the rising number of COVID-19 cases. The Dow Jones Industrial Average dropped by 1.92%, or 525.05 points, to close …
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24 September 2020 1:02 am
US Treasury Yields Marginally Rise
Treasury yields in the United States marginally increased on Wednesday following recent remarks by Federal Reserve officials. Yield on the 10-year Treasury bond levelled up by 1.3 basis points to 0.676%, while return on the 30-year bonds increased by the same amount to 1.426%. Meanwhile, return on the two-year notes …
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24 September 2020 12:50 am
Oil Prices Finish Higher Following Inventory Draw
Oil prices rose on Wednesday, after data showed a decline in US crude inventories. Brent crude futures for November delivery increased by 5 cents, or 0.1%, and settled at $41.77 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude for November delivery levelled up by 13 cents, or 0.3%, and …
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