A survey showed that the recovery of the Eurozone economy from its biggest downturn on record faltered in August as growth in the services sector dominating the bloc almost completely halted, suggesting that the long road to recovery is bumpy. Last quarter, the bloc’s economy shrank 12.1%, as the imposition …
Read More »Mark Carney Takes the Helm: Canada’s New PM Faces Trump and Global Trade Challenges
Newly-appointed Canadian Prime Minister Mark Carney officially assumed office on Friday morning, suc…
Oil Gains Amidst Geopolitical Tempest and Shifting Demand Forecasts
Despite a week dominated by fluctuating geopolitical tensions and evolving economic forecasts, oil p…
Fresh Deadline Drama: Senate Poised to Avert Shutdown
Funding Bill on the Brink of PassageThe Senate is set for a pivotal test vote this afternoon on the …
PPI Shadowed: GBP/USD Wobbles Amid GDP Shock and Surging US Inflation Fears
The Pound Sterling (GBP) faced renewed pressure against the US Dollar (USD) this week, with GBP/USD …
Changpeng Zhao Denies Ties of Trump Family Ties and Binance Amid Controversy
Changpeng Zhao (CZ), the founder and former CEO of Binance, the globe’s largest cryptocurrency…
Gold Shatters $3,000 Barrier: Historic Safe-Haven Surge Amid Global Uncertainty
In a landmark moment, gold prices surged past the $3,000 per ounce threshold on Friday, marking an a…
Bristol Myers Squibb Gains Expanded EU Approval for CAR-T Therapy Breyanzi
The European Commission has granted Bristol Myers Squibb (NYSE: BMY) an expanded approval for its CA…
Forex Market Overview: Yen Weakens, Pound Slips, Dollar Recovers
The Japanese yen weakened on Friday after concluding union wage negotiations, while the British poun…
Oil Prices Rebound as Ukraine Conflict Persists, Trade War Concerns Loom
Oil prices bounced back on Friday, recovering some of the previous session’s losses, as the Uk…
Gold Prices Hold Near Record Highs Amid Trade Tensions, Rate Cut Expectations
Gold prices remained steady at all-time highs in Asian trading on Friday, driven by escalating U.S.-…
Market Analysis
September, 2020
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3 September 2020 1:25 pm
China: We Will Respond to US Restrictions on Diplomats
Chinese Foreign Ministry spokeswoman Hua Chunying said in a daily press briefing that Beijing will respond “by lawful means” to the new restrictions imposed by the United States on Chinese diplomats. Washington said it would require senior Chinese diplomats to obtain approval from the Foreign Ministry before visiting any university …
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3 September 2020 12:44 pm
European Shares Open Higher Ahead of Services Sector Data
European stocks rose on Thursday, September 3rd amid signs of global economic recovery and hopes for further stimulus measures, with all eyes focused on domestic services sector data likely to show continued growth. The European Stoxx600 index rose 0.8% in early trade, tracking a strong session in Asia after a …
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3 September 2020 12:05 pm
Japan’s Nikkei Index Reaches Highest Level in 30 Years
The Nikkei benchmark hit a six-month high Thursday, September 3 and its strongest in three decades in dollar terms, as hopes for more domestic and global economic stimulus boosted sentiment. The Nikkei Index rose 0.94% to 23,465.53 points, its highest closing level since February 21. In dollar terms, this index …
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3 September 2020 10:41 am
US May Witness Largest Fiscal Deficit Since World War II
A report issued by the Congressional Budget Office predicts that the US federal government budget deficit will reach 16% of GDP during 2020, the largest in the United States since the end of World War II in 1945. The bureau said the US public debt rate will exceed 100% of …
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3 September 2020 10:21 am
Japan’s Services PMI Fell to 45 in August
Japanese service activity contracted at a rapid pace last month, dropping the service purchasing managers’ index to 45.0 in August from 45.4 in July. The Japanese service activity was affected by the uncertainty and weak demand surrounding the business sector due to the Corona pandemic.
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3 September 2020 1:45 am
Daily Recap: Wednesday, September 2, 2020
The US Dollar (USD) showed strong recovery signs on Wednesday from near its lowest level in two years on the back of strong economic data in the US, coupled with the decline of the Euro with a surprise decline in German retail sales, and the Sterling Pound, with the British …
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3 September 2020 1:30 am
Fed’s Beige Book Highlights Uncertainty and Volatility
Although economic activity increased among most areas across the United States, gains remained subdued, with the economy yet to restore its levels prior to the coronavirus (COVID-19) pandemic, according to the US Federal Reserve Beige Book. The Beige Book report, which was released on Wednesday, showed that with the real …
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3 September 2020 12:57 am
NYSE Logs Highest Gains in a Week
The New York Stock Exchange (NYSE) registered its biggest gains in a week on Wednesday, supported by positive economic data that signaled a strong recovery from the COVID-19 crisis. Additionally, news about vaccine and treatments for the virus helped boost investors’ sentiment and the risk appetite. The Dow Jones Industrial …
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3 September 2020 12:34 am
US Treasury Yields Show Mixed Signs on USD Recovery
US Treasury yields mostly declined on Wednesday, amid a rise of the US Dollar (USD) on the back of positive economic data. Return on the 10-year Treasury notes decreased by 2.2 basis points to 0.650%. Yields on the 30-year bond fell by 5 basis points to 1.375%. Meanwhile, return on …
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3 September 2020 12:05 am
Oil Prices Close Lower Despite Stockpiles Draw
Oil prices declined on Wednesday, despite a decrease in crude inventories in the United States, as production in the Gulf of Mexico recovers from the impacts of Hurricane Laura. Brent crude futures for November delivery closed lower by $1.15, or 2.5%, at $44.43 per barrel. Meanwhile, the US West Texas …
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2 September 2020 11:46 pm
Gold Settles Lower as USD Recovers
Gold prices closed Wednesday lower, amid a recovery of the US Dollar on the back of positive economic data coupled with the Euro and the British Pound simultaneous declines. Gold futures for December delivery declined by $34.20, or 1.7%, and settled at $1,944.70 per ounce. Meanwhile, silver futures finished lower …
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2 September 2020 11:22 pm
GBP/USD Declines on BoE Dovish Tone
The British Pound (GBP) is trading lower against the US Dollar (USD) on Wednesday, with the USD rising on the back of strong manufacturing data with surging PMI and factory orders. Meanwhile, the GBP is impacted by recent remarks by policy makers in front of the House of Commons Treasury …
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