The Eurozone unemployment rate fell short of economists’ expectations in May, indicating that measures to protect jobs in the Eurozone have paid off. Although the unemployment rate in the Eurozone peaked for four-months high at 7.4%, data from Eurostat reported, economists’ expectations at 7.7%. The unemployment rate in April was …
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 1:37 pm
Fed Warns of a Financial Recession Due to Another Possible Wave of Covid-19 Outbreak
According to Reuters, citing FT, St. Louis Federal Reserve Bank president James Bullard has warned that a growing number of bankruptcies due to the coronavirus outbreak could lead to a financial crisis. Fed officials have warned that there might be other waves of coronavirus infections that could lead to horrible …
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2 July 2020 1:08 pm
EUR/USD Pushing Higher and Approaching 1.1300
The EUR/USD pair continues to trade with better sentiment for the second consecutive session, touching weekly highs near 1.13 levels The combination of hopes for a Covid 19 vaccine and headlines about Europe’s economic reopening has pushed traders toward riskier assets. In terms of data in the euro area, Spanish …
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2 July 2020 12:31 pm
Covid-19 updates: Vaccine trials showing promising results
Today’s updates on Covid-19 Victoria, the Australian state reported 77 new cases this Thursday.Where in the US, cases reached 575. On Wednesday, Pfizer announced that the experimental coronavirus vaccine that they co-developed with BioNTech triggered more robust immune responses in the early-stage of human trials. According to Reuters, BioNTech’s shares …
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2 July 2020 12:10 pm
Asian Stocks Are Near 4-Month Highs With Hopes of COVID 19 Vaccine
Asian stocks were sailing near 4-month highs on Thursday, as hopes doubled over a vaccine for COVID 19, while copper prices rose to a 6-month high. The entire market focus today is on US employment data, due for release later today, which will give clear cues of how the world’s …
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2 July 2020 11:49 am
European Shares Rise as COVID-19 Vaccine Approaches
European stocks rose on Thursday, with hopes increasing for a COVID-19 vaccine and other encouraging data, all of which led to a spike in sentiment ahead of NFP data from the US. Financial markets had started the second half of the year with positive news as the global slump in …
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2 July 2020 11:26 am
The US Dollar Index is Testing 97.00 Before US Data
The US dollar index continues to trade in defensive mode on Thursday. The index fell on data and Risk Trends on Wednesday, as sentiment improved with good news of approaching a vaccine for Covid-19 The better-than-expected US data as ISM Manufacturing rose to 52.6 for the month of June, in …
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2 July 2020 11:06 am
Russian Oil Output Falls to 9.32 mln bpd in June, Approaching OPEC+ Target
Russian oil and gas condensate production fell to 9.32 million barrels per day (bpd) in June from 9.39 million bpd in May, near its target under a deal with the OPEC+ group, Interfax news agency reported on Thursday, citing energy ministry data. The production of oil and gas condensate per …
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2 July 2020 1:59 am
Oil Prices Settle Higher on Decline in US Inventories
Oil prices closed higher on Wednesday, after data showed a decline in the United States crude inventories last week. Brent Crude increased by $0.76 or 1.84% to close at $42.03 per barrel, while the WTI crude futures settled higher by $0.55 or 1.4% at $39.82 a barrel. The US crude …
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2 July 2020 1:50 am
Gold Settles Lower by 0.6%
Gold prices declined on Wednesday, giving up its highest level in about eight years, after positive economic data in the United States and news about a vaccine for the coronavirus disease (COVID-19) lowered demand for safe havens. The price of spot gold fell by around 0.6% to $1,770 per ounce, …
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2 July 2020 1:27 am
S&P 500 and Nasdaq Maintain Gains, Dow Closes Lower
The New York Stock Exchange (NYSE) closed higher on Wednesday, with investors growing optimistic about news of a potential vaccine for the coronavirus (COVID-19). The S&P 500 index gained 0.50%, and the NASDAQ Composite Index increased by 0.95%, while the Dow Jones Industrial Average closed lower by 0.3%. A COVID-19 …
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2 July 2020 12:45 am
USD Down as Safe Haven Demand Falters
The US Dollar (USD) declined on Wednesday against major currencies, with improved economic data in the United States and the UK has decreased the demand on the green currency as a safe haven. An increased risk appetite helped the AUD and NZD rise against the USD. The USD/JPY is now …
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2 July 2020 12:25 am
GBP Gains on USD Retreat
The British Pound (GBP) achieved gains on Wednesday, as demand for the USD as a safe haven faded despite positive economic data in the United States. GBP is up by 0.43% against the Euro, and by 0.60% against the USD. Earlier, data showed that the UK manufacturing sector is showing …
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