Ripple is being sued for selling its XRP token in an unregistered securities offering, the Coin Telegraph reports. A number of class-action lawsuits have been reportedly filed against Ripple in recent months. In addition, former Chairman of the Commodity Futures Trading Commission (CFTC), Chris Giancarlo, is arguing in a recently …
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
-
3 July 2020 9:42 pm
French President Macron Names New PM
Jean Castex will lead a new French government, after being named by President Emmanuel Macron as prime minister. Macron, who was elected in 2017, promised a cabinet reshuffle in recent days to focus on recovery from the negative economic impacts of the COVID-19 pandemic. The new Prime Minister of France, …
Read More » -
3 July 2020 9:09 pm
European Stocks Post 1.8% Weekly Rise
European stocks declined on Friday, despite recent PMI data showing recovery signs in the Eurozone, as well as the in the US and China. The pan-European STOXX Europe 600 index closed down by 0.93% at 364.86, but up by 1.83% for the week, despite giving up some of its gains …
Read More » -
3 July 2020 8:45 pm
NZD Rises on Improved Risk Appetite
The New Zealand Dollar (NZD) is showing a strong performance against major currencies, supported by improved risk appetite. Positive indicators from European PMI reports showed that June saw the best economic activity since the beginning of the COVID-19 pandemic. Gains by Asian stock markets also helped push the risk appetite …
Read More » -
3 July 2020 8:29 pm
Calvino: COVID-19 EU Debts Must Be Repaid
All the debt issued by the European Union (EU) to help its member states in the fight against the coronavirus disease (COVID-19) pandemic will eventually be paid back, according to Spain’s Minister of Economy Nadia Calvino. “The long-term sustainability of the debt is guaranteed and we are making plans and …
Read More » -
3 July 2020 7:26 pm
British Services Sector Shows Strong Recovery Signs
The headline seasonally adjusted IHS Markit/CIPS UK services purchasing managers’ index (PMI) for business activity posted 47.1 in June, up from its level in May at 29, reaching its highest level in four months. The index survey showed that around 33% of participants reported a drop in business activity during …
Read More » -
3 July 2020 6:39 pm
Eurozone PMI Maintains Road to Recovery
The Eurozone purchasing managers’ composite output index (PMI) maintained its recovery for the second consecutive month, recording 48.5 in June, rising by 17 points compared to its level in May at 31.9. This is the best level for the Eurozone index in four months, since the beginning of the coronavirus …
Read More » -
3 July 2020 6:09 pm
Oil had a good week and heading to record weekly gains
With US markets closed this Friday in celebration of Independence Day holiday, oil prices enjoyed a good week and gained more than 4%. According to Reuters, oil fell below 43 dollars/barrel on Friday on the back of the increased numbers of coronavirus infections in the US. However, it noted that …
Read More » -
3 July 2020 5:51 pm
S&P 500 Continued To Recover
S&P 500 continued to recover during Q2 from its slump in Q1. The largest sectors that struggled against the recession and were not on the index were: health care, communication services, information technology and consumer discretionary. Top 5 companies are in the S&P 500 and represent most of the recent …
Read More » -
3 July 2020 5:34 pm
EUR/JPY Remains in a Narrow Range
The risk aversion provides some strength to Yen, safe-haven currency, which maintains the bullish trend for EUR/JPY in 121.00 regions. EUR/JPY fell for a second consecutive session with low trading volume due to the Independence Day holiday in the United States. Investors continue to evaluate the latest data besides Covid-19 …
Read More » -
3 July 2020 4:28 pm
European Commission Grants Conditional Clearance to Remdesivir
The European Commission has granted a conditional clearance to use Gilead Sciences’ Remdesivir to treat Covid-19 This decision came after the European Medicines Agency’s “rolling review” that started at the end of April. The Commission had previously stated that it was negotiating with Gilead to purchase sufficient doses for European …
Read More » -
3 July 2020 3:56 pm
Eurozone Plunge Eased Amidst Reopening Operations
The plunge in eurozone business activity caused by lockdowns imposed to stop the spread of the coronavirus eased sharply last month as more businesses reopened and people ventured out, Reuters reported on Friday, citing a survey. Further details A June Reuters poll predicted the economy contracted an unprecedented 12.5% last …
Read More » -
3 July 2020 3:08 pm
Decline in business Activities in Europe Slow Down
Friday’s survey showed that the decline in business activities in Eurozone had receded sharply, the recent decline as a result of public isolation measures to halt the spread of Corona as more companies resume their activities. Nearly 11 million people worldwide have been infected with Covid-19, but the restrictions have …
Read More »