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Market Analysis

September, 2020

  • 11 September 2020 11:23 am

    Britain’s Economy Grew 6.6% in July Amid Continuing Gradual Recovery

    The UK economy grew 6.6% in July on a monthly basis in an effort to recover from the sharp downturn caused by the general lockdown caused by the Corona pandemic, according to data from the British National Statistics Office. The expected growth (gross domestic product) for July was largely in …

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  • 11 September 2020 11:21 am

    US CPI to rise to 1.4% YoY in August

    Analysts at Scotiabank offer a sneak peek at what to expect from Friday’s US Consumer Price Index (CPI) release. Key quotes “Headline inflation is forecast to rise from 1% YoY in July to 1.4% principally due to forecast month-ago gains in core CPI combined with a mild assist from gasoline …

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  • 11 September 2020 12:54 am

    US Treasury Yields Decline Amid Rising Demand

    US Treasury yields decreased on Thursday amid increased investors’ interest and fluctuations performance by the US Dollar (USD). The benchmark 10-year Treasury note yields declined by 1.9 basis points to 0.684%. Return on the 30-year bond yield fell by 2.2 basis points to 1.435%. Yields remained nearly unchanged on the …

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  • 11 September 2020 12:44 am

    Wall Street Fails to Maintain Rebound

    The New York Stock Exchange (NYSE) closed lower on Thursday as tech stocks failed to maintain its earlier rebound. The Dow Jones Industrial Average dropped by about 406 points, or 1.5%, to close at 27,534.58 points, after rising earlier by around 230 points. The S&P 500 plunged by around 60 …

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  • 11 September 2020 12:16 am

    DXY Reverses Earlier Losses

    The US Dollar (USD) recovered from its earlier losses on Thursday, which were mostly on the back of pressures by the rising Euro after the European Central Bank maintained interest rates. The Dollar Index (DXY), which measures the performance of the USD against a basket of six major international currencies, …

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  • 11 September 2020 12:07 am

    Oil Prices Decline Maintaining $40 Level

    Oil prices finished lower on Thursday after data showed a rise in US crude inventories, amid concerns about the outlook for global demand recovery. Brent crude futures for November delivery declined by 73 cents, or 1.8%, and closed at $40.06 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures …

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  • 10 September 2020 11:48 pm

    Gold Closes Higher as USD Declines

    Gold prices rose on Thursday for the third consecutive session as the US Dollar (USD) continued to decline amid the appreciation of the Euro after the European Central Bank maintained interest rates unchanged. Gold futures for December delivery increased by $9.40, or 0.5%, and settled at $1,964.30 per ounce. Meanwhile, …

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  • 10 September 2020 11:18 pm

    Lagarde’s Top Comments in after ECB Meeting

    “The Governing Council discussed the appreciation of the euro, but as you know we don’t target the exchange rate.”“The incoming data since our last monetary policy meeting in July suggest a strong rebound in activity broadly in line with previous expectations.”“Euro-area domestic demand has recorded a significant recovery from low …

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  • 10 September 2020 10:11 pm

    European Stocks Finish Lower After ECB Statement

    European stocks closed lower on Thursday after the European Central Bank (ECB) decided to maintain interest rates unchanged amid recession fears. The Stoxx Europe 600 declined by 0.59% to close at the level of 367.48 points. Meanwhile, the UK’s FTSE100 finished lower by 0.16%. The French CAC40 and the German …

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  • 10 September 2020 8:14 pm

    Bitcoin Trading near $10,423

    Bitcoin is maintaining most of its gains on Thursday, as it is currently trading up by 1.6% at $10,422.8. Earlier today, the world’s biggest digital currency was trading above $10.475 briefly, before giving up some of its gains as it faces strong resistance. Meanwhile, the Ethereum surged by 5.3% to …

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  • 10 September 2020 8:06 pm

    UK CEI Rises by 0.3% in July

    The Conference Board Coincident Economic Index (CEI) for the United Kingdom increased by 0.3% in July 2020 to 103.6. Meanwhile, the Conference Board Leading Economic Index (LEI) for the UK decreased by 0.3% in July to 78.2, as shown by data released on Thursday.

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  • 10 September 2020 7:55 pm

    US Oil Inventories Rise by 2 M Barrels

    Crude oil inventories in the United States rose last week by 2 million barrels, as shown by the US Energy Information Administration (EIA) weekly report on Thursday. The increase in oil stockpiles, which came against market expectations of a 1.3 million barrel decline, ended six consecutive weeks of inventories decline.

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  • 10 September 2020 7:08 pm

    US Natural Gas Inventories Add 70 B BCF

    Natural gas inventories in the United States increased by 70 billion bcf last week, according to the US Energy Information Administration (EIA) Natural Gas Storage report. The rise in natural gas stockpiles comes compared with market expectations of a 68 billion bcf increase, after a 35 billion bcf increase in …

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