The Central Bank of France is expecting the French economy to recover during the third quarter (Q3) of 2020. The second-biggest economy in the Eurozone could grow by an unprecedented 14% in Q3 of 2020, if business activity remains at the current levels, Reuters reported, citing forecasts by the central …
Read More »UK Public Borrowing Exceeds Forecasts, Presenting Challenge for Finance Minister Rachel Reeves
British public borrowing in the first six months of the tax year exceeded official forecasts, posing…
Oil Prices Steady Near $74 Amid Middle East Ceasefire Efforts and Slowing Chinese Demand
Oil prices hovered near $74 a barrel on Tuesday as geopolitical tensions in the Middle East and conc…
European Stocks Slip Amid Geopolitical and Rate-Cut Uncertainties, SAP Boosts Tech Sector
European stocks dipped on Tuesday as investors grappled with geopolitical tensions and uncertainties…
Bitcoin Falls Amid U.S. Election Uncertainty and Slower Fed Rate Cut Expectations
Bitcoin prices fell on Tuesday, retreating from recent three-month highs as broader market uncertain…
Dollar Strength and Fed’s Approach to Rate Cuts
The U.S. dollar remained strong on Tuesday, holding near a 2-1/2-month high due to expectations that…
Gold Prices Steady Near Record Highs Amid Election Uncertainty and Middle East Tensions
Gold prices gained in Asian trade on Tuesday, stabilizing just below their recent record highs as tr…
Treasury Yields Resume Upward Trend Following Fed Remarks
US Treasury yields initiated an upward climb at the start of the new trading week, fueled by stateme…
Gold Halts Climb After Record Highs
The price of gold stopped increasing after reaching record highs due to statements from the Federal …
Market Drivers; US Session
Dollar Strengthens Amid Rising Yields, Renewed “Trump Trade”The US Dollar Index (DXY) co…
Dow Jones Sheds 330 Points as Bullish Momentum Pauses
Dow Jones Industrial Average (DJIA) experienced a setback on Monday, declining by 330 points (0.8%) …
Market Analysis
July, 2020
-
6 July 2020 11:51 pm
USA: Pandemic Aid Saved 51.1 M Jobs
The US Department of Treasury and the Small Business Administration (SBA) announced that government support to businesses helped save 51.1 million jobs or 84% of the small business workforce. A total of $521.4 billion of financing to employers have already been approved, as part of a $660 billion COVID-19 pandemic …
Read More » -
6 July 2020 11:34 pm
Gold Settles Higher on Dollar Woes
Gold prices rose on Monday, nearing its highest level in about a week, despite an increased risk appetite among investors. However, the rise in the yellow metal prices is mainly attributed to the Dollar’s decline. Gold futures for August delivery rose by $3.50, or 0.23%, to settle at $1,793.5 per …
Read More » -
6 July 2020 11:28 pm
Amazon Stock Hits New All-Time High
The stock of Amazon is up by more than 5% for the day, trading above $3,037, as of 7:20 p.m. GMT. This is the first time for the Amazon share price to exceed $3,000. The online retailer is one of a few businesses that benefited from the COVID-19 pandemic, with …
Read More » -
6 July 2020 10:35 pm
BoC: Businesses in Canada Expect Weak Demand
The overall Business Outlook Survey indicator fell sharply, with most constituent indicators declining to levels well below their historical averages, according to the Bank of Canada (BoC) Business Outlook Survey for the summer of 2020. Businesses in Canada expect weakness in domestic and foreign demand due to the effects of …
Read More » -
6 July 2020 9:55 pm
Stability Foreseen for Copper Prices in Q3 and Q4
Market experts are expecting copper prices to stabilize during the second half (H2) of 2020, despite the surge it saw in the second quarter (Q2) of the year, CNBC reports. The three-month copper futures are trading, on the London Metal Exchange (LME), above $6,000 per ton since the end of …
Read More » -
6 July 2020 8:38 pm
European Stocks Close Higher on Positive Data
European stocks closed higher on Monday, supported by a positive sentiment among investors, thanks to economic data signaling a near recovery in the Eurozone. The pan-European STOXX Europe 600 gained 1.55% and closed at 371.09. In the London Stock Exchange, main index FTSE100 added 2.1%. Benchmark French index CAC40 increased …
Read More » -
6 July 2020 7:50 pm
Boston Fed: Main Street Program Ready to Go
The Main Street Lending Program is now operational and ready to purchase eligible loans, said the Federal Reserve Bank of Boston on Monday. The Fed branch in Massachusetts encouraged lenders to start submitting qualifying loans, Reuters reported. Members of the US Federal Reserve Board have agreed to use all of …
Read More » -
6 July 2020 7:31 pm
US Non-Manufacturing PMI Displays Recovery in June
The US non-manufacturing services sector activity showed a strong recovery during June, nearing a return to its levels before the COVID-19 pandemic. The ISM Non-Manufacturing Purchasing Managers’ Index (PMI) for June increased to 57.1, compared to its reading in May at 45.4, and an expected reading of 50.1. This is …
Read More » -
6 July 2020 7:06 pm
IHS Markit: US Services Sector Showing Softer Contraction
Seasonally adjusted IHS Markit US Services Business Activity Index registered 47.9 at the end of the second quarter (Q2) of 2020. This comes after the index recorded a reading of 37.5 in May, thus, showing a softer rate of contraction in business activity across the US. The IHS Markit Composite …
Read More » -
6 July 2020 6:26 pm
Uber to Acquire Postmates in $2.65 B Deal
Uber Technologies announced that it plans to buy Postmates for a price of $2.65 billion, Reuters reported. The ride-hailing app developer aims to expand its footprints in the food-delivery business. Uber recently considered acquiring Grubhub, a US-based online food delivery company that entered last month into an acquisition deal by …
Read More » -
6 July 2020 5:59 pm
Bitcoin Rises After Two Sessions of Decline
Bitcoin rose during today’s trading session, after falling for two consecutive sessions, which pushed the cryptocurrency to decline near the level of $ 8955, but quickly rose in recent hours by 3.1% to $ 9250 levels. The currency was in a raising wave close to $ 4000. The cryptocurrency is …
Read More » -
6 July 2020 5:23 pm
EU Will Stand Firm Against Washington Over Trade Disputes
The European Union will take decisive measures against the United States if it is unwilling to settle a long-standing dispute over aircraft with new business investigations, the European Trade Commissioner said on Monday. The history of this dispute dates back to 2004 over subsidies and support for European Airbus and …
Read More »