The Chinese Ministry of Commerce said that Beijing will take “all necessary measures” to protect the legitimate interests of its companies, in response to the US move this week to tighten restrictions on Huawei. The administration of US President Donald Trump expanded the restrictions announced in May aimed at preventing …
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
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20 August 2020 2:22 pm
Japan shares Declining Due to Negative US Economic Outlook
Japanese stocks fell at the close Thursday, August 20, affected by Wall Street losses after the US Federal Reserve meeting minutes revealed that policymakers are concerned about the uncertainty surrounding the path of the economic recovery from the Coronavirus pandemic. The Nikkei index fell 1% to close at 22,880.62, the …
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20 August 2020 12:45 pm
Oil Falls Amid Demand Risks And a Smaller-Than-Expected Drop in Inventories
Oil prices fell on Thursday, August 20, as major producers warned of a threat to recover demand if the Coronavirus crisis continues for a long time, while US crude stocks fell less than expected. By 07:32 GMT, Brent crude was down 34 cents, or 0.8%, to $ 45.03 a barrel. …
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20 August 2020 12:28 pm
European Shares Drop on Recovery Outlook
European shares were hit by a sell-off in global stock markets on Thursday (August 20th) after the US Federal Reserve indicated a long and difficult path to the recovery of the world’s largest economy. The Stoxx600 index of European shares fell 1.2% by 07:12 GMT, while the mining sector fell …
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20 August 2020 12:08 pm
Gold Recovering With Renewed Fears of a Slowdown in recovery
Gold rose on Thursday, August 20, offsetting some of the losses caused by a wave of selling in the previous session, after the US Federal Reserve raised fears that the recovery from the economic downturn resulting from the outbreak of the Coronavirus is facing a blue future, which has cast …
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20 August 2020 10:57 am
US-China to plan resumption of delayed trade deal talks – Bloomberg
US and China are considering rescheduling the phase one trade deal review, earlier planned last weekend, reported Bloomberg, citing a person familiar with the matter. The source said that the review will take place soon, although no date has been set so far. Talks between the US and China continue …
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20 August 2020 10:39 am
Coronavirus Update: Germany’s New Cases Rise by 1,707 With More 10 Deaths
As per the latest coronavirus (COVID-19) updates from Germany, new cases in the European major rose by 1,707, versus the previous day’s 1,510, to take the total number of active cases across the country near 14,500, which is the most since 13 May. Further details suggest that 10 people died …
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20 August 2020 2:04 am
Daily Recap: Wednesday, August 19, 2020
The release of the Federal Reserve July meeting minutes dominated the market today, helping the USD go higher and, accordingly, gold closing lower. Meanwhile, expectations by the monetary policymakers that the COVID-19 health crisis will weigh on the economy led to Wall Street closing in red, while oil prices showed …
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20 August 2020 1:51 am
Wall Street Closes in Red Following Fed Minutes
The New York Stock Exchange (NYSE) indices closed in red, after rising earlier in the session to new intraday record highs. The Dow Jones Industrial Average lost 85.19, or 0.31%, while S&P 500 closed lower by around 15 points or 0.44%, and the Nasdaq Composite finished lower by 0.57%. The …
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20 August 2020 1:37 am
Bullard: Wall Street is Right with Record-Breaking Rises
President of the Federal Reserve Bank of St. Louis, James Bullard, is expecting the US economy to shrink by 4% in 2020, however, he does not see recent hikes by Wall Street as contradictory to the economic outlook. “I think Wall Street has called this about right so far,” Bullard …
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20 August 2020 1:27 am
Barkin: Uncertainty Negatively Affecting US Economy
The US need to get the coronavirus under control to ensure business confidence and economic certainty, according to the President of the Federal Reserve Bank of Richmond, Thomas Barkin. The high levels of uncertainty are weighing on the economy, which still needs continued fiscal support, according to Barkin.
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20 August 2020 12:30 am
Oil Continues to Struggle for Direction
Oil prices closed lower on Wednesday after data showed a decline in the US crude inventories, which came below market expectations. Brent crude futures for October delivery declined by 9 cents, or 0.2%, and settled at $45.37 per barrel. Meanwhile, the West Texas Intermediate (WTI) futures for September delivery rose …
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20 August 2020 12:23 am
Gold Settles Lower as USD Strengthens
Gold prices declined on Wednesday and settled lower after two consecutive rises due to the US Dollar recovering from some of its recent losses against major currencies, supported by the release of the Federal Reserve latest meeting minutes. Gold futures for December delivery closed lower by $42.80, or 2.1%, at …
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