Oil prices finished Thursday lower, after rising for three consecutive days on the back of a draw in US crude inventories and output disruptions in the Gulf of Mexico due to hurricane Laura. Brent crude futures for October delivery decreased by 55 cents, or 1.2%, and closed at $45.09 per …
Read More »Market Drivers: US Session
The US Dollar Index (DXY) is testing the 108.00 support level, even with rising US Treasury yields a…
Powell’s Impact: Powell’s Caution Dips The Dollar As Rate Adjustments “on Hold”
The US Dollar Index (DXY) continued to trade with losses for the second consecutive session on Tuesd…
Powell’s Pause: Stocks Steady Amid Uncertainty
US stock markets have recently experienced a period of mixed performance, influenced by new tariffs …
EU Vows Retaliation Against Trump’s Metal Tariffs
The European Union (EU) has vowed to respond to the 25% tariffs announced by President Donald Trump …
Investors Still Tune In as Fed Chair Testifies Before US Lawmakers
Federal Reserve Chair testified before the US Senate on Tuesday, saying, “There is no need to …
First Remarks By Fed Chair Before Lawmakers As Investors Lend All Ears
The US Federal Reserveis not in a rush to cut its short-term interest rate again due to an “st…
Explainer: Global Markets Focus On Key Clues As Powell Faces US Lawmakers In Washington
The US Federal Reserveis not in a rush to cut its short-term interest rate again due to an “st…
EUR/USD Waits on J. Powell, Tariffs
The EUR/USD pair is holding onto slight gains above 1.0300 on Tuesday, after a decline earlier in th…
Coca-Cola Surpasses Earnings Expectations as Higher-Priced Beverages Drive Sales
Coca-Cola’s fourth-quarter earnings exceeded expectations, as the company’s strategy of encour…
Powell to Testify as Fed Navigates Economic Uncertainty Under Trump Policies
Federal Reserve Chair Jerome Powell begins two days of hearings on Capitol Hill on Tuesday, addressi…
Market Analysis
August, 2020
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27 August 2020 11:18 pm
USD/CAD Recovers From Lowest Level in Seven Months
The Canadian Dollar (CAD) rose against the US Dollar (USD) on Thursday to its highest level in around seven month. The USD/CAD pair is trading lower by 0.15% at 1.31249, after trading earlier as low as 1.3101, its lowest level since mid-January. The CAD gave up some of its earlier …
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27 August 2020 11:10 pm
Gold Closes Lower Following Fed Remarks
Gold prices finished Thursday lower, after remarks by the Chairman of the United States Federal Reserve, Jerome Powell, came in line with market expectations. Gold futures for December delivery closed lower by $19.90, or 1%, at $1,932.60 per ounce. The yellow metal has diminished most of its earlier gains, after …
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27 August 2020 10:12 pm
Kaplan: Inflation Could Reach 2.25% or 2.5%
The President of the Federal Reserve Bank of Dallas, Robert Kaplan, said on Thursday that a moderate inflation overshoot means reaching a rate of 2.25-2.5%. Kaplan called for focusing on the future instead of the past, and noted that the Fed is expecting a hotter labor market. In addition, Kaplan …
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27 August 2020 10:01 pm
European Stocks Close Lower Following Powell Speech
European stocks closed lower on Thursday, after the recent speech of the United States Federal Reserve Chair Jerome Powell. The Stoxx Europe 600 index declined by 0.58% and closed at 370.96 points. The UK’s FTSE100 index settled lower by 0.75% at 5,999.99. Meanwhile, the French CAC40 and the German DAX …
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27 August 2020 9:09 pm
Democrats Demand Increased Spending for Stimulus Package
The White House need to agree on increased spending for the next COVID-19 stimulus package, said the United States House of Representatives Speaker, Nancy Pelosi, on Thursday. Recently, the President of the United States, Donald Trump, claimed that his administration has saved more than 50 million jobs, through the COVID-19 …
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27 August 2020 7:13 pm
US Pending Home Sales Rise in July
The United States Pending Home Sales Index increased by 5.9% to 122.1 in July, according to data by the National Association of Realtors on Thursday.
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27 August 2020 5:57 pm
UK Car Production Ramps up in July
Data from the auto sector revealed that car production in Britain increased strongly in July, but is still below the level of last year, after manufacturing almost completely stopped in April at the start of isolation measures to combat the Corona virus. The Association of Automobile Manufacturers and Dealers said …
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27 August 2020 5:27 pm
Powell Speech: Fed Not Tying Itself to Any Particular Method to Define Average Inflation
Jerome Powell, Chairman of the Federal Reserve System, is delivering his remarks at the virtual Jackson Hole Economic Policy Symposium titled “Navigating the Decade Ahead: Implications for Monetary Policy.” “Fed not tying itself to any particular method to define average inflation, policy will not be dictated by any formula.”“Fed will …
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27 August 2020 5:15 pm
FOMC Chairman Powell Says Fed Will Target Average Inflation as New Strategy
Jerome Powell, Chairman of the Federal Reserve System, said that the Fed in its new strategy will target average inflation in his prepared remarks at the virtual Jackson Hole Economic Policy Symposium.
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27 August 2020 5:06 pm
FOMC Chairman Jerome Powell’s speech – Live Stream
Jerome Powell, Chairman of the Federal Reserve System, will be delivering his remarks at the virtual Jackson Hole Economic Policy Symposium at 1310 GMT on Thursday. Powell is expected to discuss the Fed’s monetary policy framework review at the conference titled “Navigating the Decade Ahead: Implications for Monetary Policy.”
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27 August 2020 4:52 pm
US: More Than 1 Million Americans Applied For Unemployment Benefits
There were 1,006,000 Initial Claims for unemployment benefits in the US during the week ending August 22nd, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed last week’s print of 1,104,000 (revised from 1,106,000) and came in slightly worse than the market expectation …
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27 August 2020 4:41 pm
US: Real GDP Contracts by 31.7% in Q2
The United States’ Real Gross Domestic Product (GDP) contracted at an annual rate of 31.7% in the second quarter, the US Bureau of Economic Analysis’ second estimate showed on Thursday. This reading came in better than the advance estimate of 32.9% and the market expectation of 32.5%.
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