The New York Stock Exchange (NYSE) opened higher on Thursday, supported by positive economic data, with the Nasdaq reaching a new record high. The Dow Jones Industrial Index is now up by 0.84% at 25,952 points, the S&P 500 index is up by 0.89 at 3,143.6 points, while the Nasdaq …
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
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2 July 2020 8:22 pm
Germany Calls EU Members for COVID-19 Recovery Fund
German Chancellor Angela Merkel said that members of the European Union (EU) must agree on a deal to help fund the recovery of the bloc’s economies from the effects of the coronavirus disease (COVID-19) pandemic. A deal must be reached before the end of summer, Merkel stressed in her remarks …
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2 July 2020 7:54 pm
Brazil’s Industrial Production Posts Record Rise
Industrial production in Brazil increased by 7% during May, recording its biggest rise on record. This comes as economic activity in Brazil resumed after two months of lockdown due to the spread of the coronavirus disease (COVID-19). On an annual basis, industrial production decreased in Brazil by 21.9%.
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2 July 2020 7:15 pm
New US Factory Orders Up 8% in May
New factory orders in the United States increased during May on a monthly basis by 8%, according to data by the US Commerce Department. This shows a sign of recovery, after orders for US-manufactured goods decreased by 13.5% in April, despite coming below the market expectations consensus of an 8.9% …
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2 July 2020 6:36 pm
Trump: US Economy is Roaring Back
The President of the United States, Donald Trump, said that the most recent job data proves that the US economy is roaring back. The US Non-Farm Payrolls (NFP) report, released by the United States Bureau of Labor Statistics, showed an increase of 4.8 million jobs in June, beating market forecasts. …
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2 July 2020 6:01 pm
Canadian Manufacturing PMI Jumps to 47.8 in June
Markit Manufacturing PMI for Canada recovered in june. The Canadian Manufacturing PMI reported a contraction of economic activity recording 47.8 in May, compared to 40.6 in June. “The latest Canada Manufacturing PMI highlights a vastly improved situation in comparison to that seen over the previous three months,” said Tim Moore, Economics …
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2 July 2020 5:52 pm
Unemployment Claims in US at 1.24 M
Data released by the US Department of Labor (DOL) on Thursday reported 1,427,000 initial claims for unemployment benefits in the United States in the week ending June 27, and that reading was slightly worse than the market forecast of 1,355,000. The reaction was mild in the market with the dollar …
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2 July 2020 5:10 pm
US NFP Surges by 4.8 M in June
The US Non-Farm Payrolls report (NFP) released by the United States Bureau of Labor Statistics on Thursday increased by 4,800,800 in June, compared to an increase of 2,699,00 for May. This number is better than the market forecast; the market expected 3,000,000. Other details of the release indicated that the …
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2 July 2020 5:00 pm
US Trade Deficit Widens to $54.6 B in May
Data released by the US Census Bureau and the Office of Economic Analysis said on Thursday that the United States’ international trade deficit widened to $ 54.6 billion in May from $ 49.8 billion in April. That recording was worse than the market expected; the market expected a deficit of …
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2 July 2020 4:50 pm
NFP Thursday: Second Increase is in Sight
Nonfarm Payrolls are expected to record a jump in June due to reopening operations and rehiring during the month. After an increase by 2.5m in May and a significant decrease in April, economists estimate a 4m gain in June. But as coronavirus hits back, the US job growth is likely …
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2 July 2020 4:17 pm
Eurozone Producer Prices Fell by 0.6% in May
The Eurozone producer prices fell by 0.6% in May compared to April, not in line with analysts’ expectations. Analysts had expected Eurozone producer prices to be 0.4% in May. According to estimates from Eurostat, the statistical office of the European Union. In April 2020, prices decreased by 2.0% in the …
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2 July 2020 3:38 pm
USD/CAD Bounces Back After Falling, Remains below 1.3600
The USD/CAD pair fell to 1.3573 during the European session, but then succeeded in making a slight bounce and gained 0.04% at the time of writing, reaching 1.3590 Good market sentiment that was seen in risk appetite and the rise of the leading European indicators, all made it difficult for …
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2 July 2020 2:49 pm
Russian Energy Minister: Oil Market Could Face a Shortage in July
Russia’s Energy Minister Alexander Novak said on Thursday that the global oil market may strike a balance between supply and demand and may face a shortage of crude. Citing Reuters. He added that investments in the global energy sector will decrease by one third this year, noting that recovery in …
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