European stocks hit their lowest in nearly a month on Thursday, as sentiment was affected by declining German consumer confidence, concerns about the increasing rate of Coronavirus infections, and the faltering stimulus in the United States. The German DAX index fell 1.3%, below the European stock market indices, after a …
Read More »EUR/USD Holds Steady Amid Tariff Tensions, Eyes Turn to EU Economic Data
Modest Gains Amid Holiday-Thinned TradingThe EUR/USD pair edged up by 0.18% on Friday, trading at 1.…
Global Markets Wobble as Trump’s Tariff Deadline Draws Near
Global stock markets faltered on Friday, gripped by uncertainty as U.S. President Donald Trump’s Jul…
Sterling Falters Against Yen Amid Tariff Fears and UK Political Strife
The British Pound (GBP) weakened against the Japanese Yen (JPY), with GBP/JPY slipping below 197.61,…
WTI Crude Oil Stalls Near $65 as OPEC+ and Tariff Uncertainties Loom
West Texas Intermediate (WTI) Crude Oil prices hovered near $65.70, down 0.82%, reflecting cautious …
Gold Shines Amid Tariff Threats and U.S. Dollar Weakness
Gold (XAU/USD) climbed above $3,330, driven by a weakening U.S. Dollar and renewed concerns over U.S…
U.S. Dollar Edges Lower Ahead of Trade Deadline Amid Fiscal and Market Uncertainty
The U.S. dollar saw a slight dip on Friday after a brief rally earlier in the week, with attention n…
Markets Brace for U.S. Tariff Deadline Amid Growing Optimism
As investors turn their attention to Washington’s tariff negotiations next week, the expiratio…
European Stocks Slip Amid Uncertainty Ahead of U.S. Trade Deadline and Ongoing Tariff Concerns
European stocks ended the week on a negative note, slipping lower on Friday as uncertainty grew over…
Bitcoin Struggles as U.S. Trade Tariffs Loom and Rate Cut Bets Fade
Bitcoin prices steadied on Friday after a sharp reversal of recent gains, as traders focused on the …
Oil Prices Decline Amid Nuclear Talks and OPEC+ Output Expectations
Oil futures fell on Friday as market participants reacted to ongoing geopolitical developments and e…
Market Analysis
October, 2020
-
22 October 2020 1:45 pm
Japan Shares Closed Lower Amid a Rising Yen and US Political Uncertainty
Japanese stocks closed lower on Thursday, as the rise of the yen threatened exporters’ profits and amid fears that no agreement will be reached on an important US stimulus package before the presidential elections scheduled for the third of November. The benchmark Nikkei index closed down 0.7% to 23,474.2 points, …
Read More » -
22 October 2020 1:08 pm
Consumer Sentiment in Germany Deteriorating as Numbers of Coronavirus Cases Increase
Thursday’s survey showed that consumer sentiment in Germany has deteriorated as November approaches, as a second wave of the new Corona virus outbreak in Europe’s largest economy caused Germans to have less appetite for spending. The GFK Institute said its consumer sentiment index, which is based on a survey of …
Read More » -
22 October 2020 12:05 pm
Oil Down Due to an Increase in Gasoline Stocks in The US
Oil prices declined slightly Thursday after heavy losses overnight, and in light of the accumulation of gasoline stocks in the United States, indicating a decline in expectations for fuel demand, with the increase in the number of Corona virus infections in North America and Europe. Brent crude futures fell one …
Read More » -
22 October 2020 11:05 am
Turkish Lira in All-Time Low
The Turkish lira fell against the US dollar below the 8 for the first time, with doubts surrounding the efforts of the Turkish Central Bank to support the Turkish currency with the escalation of geopolitical tensions. The Turkish lira fell 1.2% to $ 8.0088 on Monday, the largest decline compared …
Read More » -
22 October 2020 11:03 am
EU Sets up Debt Management Office
A European Union official said on Wednesday that the bloc decided earlier this week to create a debt management office to handle its massive bond issues. The official, who refused to be named, added that the establishment of the office came as a result of reorganizing the general administration of …
Read More » -
22 October 2020 12:51 am
NYSE Ends Lower as Investors Await Stimulus
The New York Stock Exchange (NYSE) closed lower on Wednesday, amid anticipation for a new stimulus package. The Dow Jones Industrial Average finished lower by 97.97 points, or 0.35%, at 28,210.82 points. The S&P 500 index declined by 7.56 points, or 0.22%, to settle at 3,435.56 points. The Nasdaq Composite …
Read More » -
22 October 2020 12:37 am
Oil Closes at Lowest Level in a Week
Oil prices declined on Wednesday after data showed an increase in the United States crude oil inventories, spurring once again fears about the recovery of the global demand. Brent crude futures for December delivery declined by $1.43, or 3.3%, to finish at $41.73 per barrel. Meanwhile, the West Texas Intermediate …
Read More » -
21 October 2020 11:49 pm
Pelosi Optimistic about New Stimulus
The Speaker of the United States House of Representatives, Nancy Pelosi, said on Wednesday that there remains a potential for reaching a deal on a new COVID-19 stimulus package, Reuters reported. However, Pelosi did not clarify if an agreement would be reached before or after the upcoming elections. The President …
Read More » -
21 October 2020 11:44 pm
USD at Lowest Level in Seven Weeks
The US Dollar maintained its downward trend on Wednesday to fell to a its lowest level in about seven weeks, despite hopes for a new stimulus package in the United States. The Dollar Index (DXY), which measures the USD performance against a basket of six major international currencies, is down …
Read More » -
21 October 2020 11:34 pm
Gold Finishes Higher for Third Day in Row
Gold prices rose on Wednesday for the third consecutive session, reaching its highest level in about a month, as the US Dollar (USD) is showing weakness across the board. Gold futures for December delivery closed higher by $14.10, or 0.7%, at $1,929.50 per ounce, its highest level since September 18. …
Read More » -
21 October 2020 11:29 pm
Copper Prices Recovery to Face Challenges Next Year
A recent poll by Reuters showed that copper prices are set to struggle for reaching new highs next year. “While the rebound was dazzling, most of the positive surprise is now behind us and this should not continue to significantly support copper prices at these high levels,” said Florent Pele, …
Read More » -
21 October 2020 11:25 pm
Fed’s Brainard Sees Absence of Stimulus as Largest Risk
Federal Reserve Governor Lael Brainard said on Wednesday that failing to reach a new stimulus package is the biggest risk facing the economic outlook, other than the Coronavirus (COVID-19) pandemic. “Premature withdrawal of fiscal support would risk allowing recessionary dynamics to become entrenched, holding back employment and spending.”“Apart from the …
Read More »