The dollar fell in early trade in London, while riskier currencies and European stocks rose at the open, and some analysts attributed the improvement in sentiment to the United States ’approval of a treatment for Covid-19 patients. The Coronavirus has killed more than 800,000 people around the world, and the …
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
August, 2020
-
24 August 2020 2:49 pm
European Stocks Higher on hopes for Coronavirus Treatment
European stocks rose from their lowest level in two weeks, as signs of progress in developing a treatment for Covid-19 disease overshadowed concerns about an increase in cases on the continent, threatening to curb an economic recovery. The European STOXX 600 index rose 1.3%, following the gains in Asian markets …
Read More » -
24 August 2020 12:46 pm
Gold Dropping as Risk Appetite Increases
Gold prices fell as the appetite for risk improved after the US Drug Administration approved the use of blood plasma for people recovering from Covid-19 disease as a treatment option, while the dollar rose. With the closure of the Tokyo Stock Exchange, the spot price of gold was down 0.4% …
Read More » -
24 August 2020 11:53 am
Nikkei rises, Focus on Prime Minister Abe’s Health
Japanese stocks closed higher, deriving direction from the gains of their Asian counterparts, but growing speculation over Prime Minister Shinzo Abe’s health dented the mood. The benchmark Nikkei index rose 0.28 percent to close at 22,985.51 points, while the broader Topix index rose 0.19 percent to 1,607.13 points. Trading volumes …
Read More » -
24 August 2020 11:33 am
Oil Rises as Two Storms Approach Gulf of Mexico
Crude oil prices rose on Monday as two storms approached the Gulf of Mexico, cutting more than half of oil production there, and amid optimism about the Coronavirus, after the US Food and Drug Administration allowed the use of blood plasma from recovered patients as a treatment option. Brent futures …
Read More » -
24 August 2020 11:22 am
Trump Adviser Kellyanne Conway to Resign
Kellyanne Conway, a senior adviser to President Trump, will leave the White house at the end of the month. Conway, whose title is counselor to the president, has resigned citing the need to focus on her family, according to The Washinton Post.
Read More » -
24 August 2020 10:53 am
Coronavirus Update
The latest coronavirus (COVID-19) updates from China have been upbeat as all 16 cases on August 23 reported as imported infections. “This compared with 12 new COVID-19 cases reported a day earlier, all imported too and marked the eighth consecutive day of no locally transmitted cases. The total number of …
Read More » -
24 August 2020 10:23 am
PBOC Sets Yuan Reference Rate at 6.9194
The People’s Bank of China (PBOC) has set the yuan reference rate at 6.9194 versus Friday’s fix at 6.9107.
Read More » -
24 August 2020 10:23 am
New Zealand Has Extended Lockdown Till Aug 30
New Zealand’s Prime Minister Jacinda Ardern has extended the coronavirus lockdown till Aug. 30. While the city of Auckland is under alert level 3 restrictions, the rest of New Zealand remains at level 2, Ardern said, while adding that Auckland will move to level 2 after Aug. 30. New Zealand …
Read More » -
22 August 2020 2:45 am
NYSE Ends Week with Two New Records
The New York Stock Exchange (NYSE) closed higher on Friday, logging weekly gains, with The Dow Jones Industrial Average surged by 0.69% to close at 27,930.33, nearly unchanged compared with its level by the end of last week. The S&P 500 index increased by 0.34% and closed at a new …
Read More » -
22 August 2020 1:54 am
Oil Records Weekly Losses on Demand Concerns
Oil prices closed Friday lower, despite a decrease in the United States active oil rig count to a record low, amid renewed concerns regarding demand outlook. This comes after PMI data showed that the global economic recovery is not accelerating. Brent crude futures for October delivery lost 55 cents, or …
Read More » -
22 August 2020 12:32 am
Gold Records Second Consecutive Weekly Decline
Gold prices rose on Friday, narrowing its weekly losses for the second week in a row. This comes amid the US Dollar recovering some of its recent losses after falling to its lowest level in two years. Gold futures marginally rose by 50 cents, or about 0.1%, and finished at …
Read More » -
21 August 2020 10:04 pm
China Promises Following Trade Deal with US
The Chinese government has promised the United States to go through with the first phase of the trade deal between the world’s two largest economies, US Secretary of State Mike Pompeo said in a TV interview on Friday. “The Chinese have done some of the work they need to do …
Read More »