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Market Analysis

August, 2020

  • 6 August 2020 10:38 pm

    DXY Returns to Negative Territory

    The US Dollar (USD) returned to the downward trend on Thursday, after showing signs of recovery today supported by the decline in the number of jobless claims in the United States last week. The Dollar index (DXY), which measures the USD performance against a basket of six major international currencies, …

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  • 6 August 2020 9:49 pm

    Fed’s Kaplan Rules Out Negative Rates

    President of the Federal Reserve Bank of Dallas, Robert Kaplan, has ruled out adopting negative interest rates in the near future, expecting strong economic growth during the second half of 2020. However, the Dallas Fed president expects rates to stay low for the foreseeable future, until progress is achieved on …

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  • 6 August 2020 9:17 pm

    Barkin Hopeful Jobless Claims Could Further Decline

    President of the Federal Reserve Bank of Richmond, Thomas Barkin, has expressed his hopes that jobless claims will continue to decline. Recently, Reuters quoted Barkin as saying that the US economy faces the risk of a larger downturn than previously expected if congress does not provide the needed support through …

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  • 6 August 2020 9:09 pm

    European Stocks Close Lower

    European stocks closed lower on Thursday as uncertainties persist regarding economic recovery in the continent after the Bank of England (BoE) monetary policy committee’s statement noted that “although recent developments suggest a less weak starting point for the Committee’s latest projections, it is unclear how informative they are about how …

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  • 6 August 2020 7:23 pm

    GBP Rises Following BoE Statement

    The British Pound (GBP) is rising across the board after the Bank of England (BoE) has decided to maintain interest rates and keep its monetary policy unchanged. The UK central bank has also vowed to adapt its policy to the market conditions, revealing that negative rates remain a possibility. The …

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  • 6 August 2020 6:09 pm

    Saudi Arabia Announces Crude Selling Prices For September

    A document obtained by Reuters appeared that the giant Saudi National Oil Company Aramco announced on Thursday the official selling prices for the month of September for its light Arab crude. Saudi Arabia set the official selling price for its Arab Light crude to Asia at a premium of $ …

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  • 6 August 2020 5:28 pm

    Gold Hits a Fresh Record High

    Gold rose at the start of the American session and rose to new highs around the $ 2064-65 area in the last hour. The metal built on breach of a key psychological level of $ 2000 this week and gained some momentum to continue the third straight session on Thursday. …

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  • 6 August 2020 5:13 pm

    Bitcoin is Rising Alongside Other Cryptocurrencies

    The cryptocurrency, Bitcoin, has been dropping since the beginning of Thursday’s session and trading at a drop of about 0.61%, or nearly $ 70, to reach 11,680, down from the $ 11,814 levels reached the beginning of the Asian session. It is possible that Bitcoin’s increase in price during the …

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  • 6 August 2020 5:00 pm

    1.18M Americans Applied For Unemployment Benefits Last Week

    There were 1,186,000 Initial Claims for unemployment benefits in the US during the week ending August 1st, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous week’s print of 1,435,000 (revised from 1,434,000) and came in better than the market expectation …

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  • 6 August 2020 4:49 pm

    Silver to The Highest Levels in 7 Years

    Silver prices are recording strong gains against the US dollar during the last hours, to test the highest levels since April 2013, with a record rise in gold, along with global tensions and the uncertainty that dominates the market. Silver traded at 12:00 GMT, up 4.55% to $ 28.22 an …

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  • 6 August 2020 3:32 pm

    Global Food Price Index Rises in July

    The United Nations Food and Agriculture Organization (FAO) said on Thursday that global food prices rose in July, led by vegetable oils, dairy products and sugar, to continue recovery from the previous month, which came after sharp declines caused by the pandemic. The FAO Food Price Index, which measures monthly …

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  • 6 August 2020 3:28 pm

    USD/CHF Near Multi-Year Lows

    The USD / CHF fell in the European session and moved to the lower end of the daily range around the 0.9080 area. After rising to levels above 0.9100, the pair faced some new offers and sailed to the negative zone for the third consecutive session on Thursday. However, a …

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  • 6 August 2020 2:07 pm

    European Stocks Fall After BOE Forecast

    European stocks fell on Thursday after the Bank of England forecast; the economic recovery to be slower after the pandemic, which affected the London stock markets. The pan-European STOXX 600 index slipped 0.3%, with London’s FTSE 100 falling 1.4%. After seeing a rally in the previous session on the back …

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