Business sentiment in Canada improved during the third quarter (Q3) of 2020, as lockdown measures and preventive measurements against the Coronavirus (COVID-19) pandemic were eased, according to data by the Bank of Canada (BoC). The BoC business outlook indicator slightly rose compared with Q2, but remained below its average, remaining …
Read More »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…
Gold Prices Rise Amid Tariff Uncertainty and Fiscal Concerns
Gold prices rose slightly in Asian trading on Friday, recovering from the previous session’s l…
U.S. to Send Letters Outlining Tariff Rates Ahead of July 9 Deadline
U.S. President Donald Trump confirmed on Thursday that the U.S. will begin sending out letters to ma…
Market Analysis
October, 2020
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19 October 2020 8:55 pm
GBP/USD Rises Despite Brexit Uncertainty
The British Pound (GBP) rose on Monday, despite uncertainty surrounding trade talks between the United Kingdom (UK) and the European Union (EU), amid hopes for the two parties reaching an agreement before the end of the year. London does not plan to return to trade negotiations with the EU next …
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19 October 2020 8:46 pm
European Stocks Erase Earlier Gains to Close in Red
European stocks gave up earlier gains and closed Monday lower, amid uncertainty surrounding Brexit talks between the United Kingdom (UK) and the European Union (EU). The STOXX Europe 600 index closed lower by 0.3%, after rising earlier today by 0.8%. Meanwhile, the UK’s FTSE100 fell by 0.59%. Similarly, the French …
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19 October 2020 8:08 pm
UK Not Planning Trade Talks with EU Next Year
The United Kingdom (UK) does not plan to return to trade negotiations with the European Union (EU) next year, according to the Prime Minister Boris Johnson’s spokesman “We have been repeatedly clear that any agreement needs to be in place before the end of the transition period, and we will …
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19 October 2020 6:37 pm
Halliburton Posts Losses in Q3
Halliburton reported quarterly losses for the fourth consecutive quarter, amid disruptions caused by the COVID-19 crisis affecting the global demand for oil. Revenues decreased to $1.57 billion down by 55% from $3.51 billion for the same quarter last year. The oil giant posted a net loss of $17 million during …
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19 October 2020 6:31 pm
Fed’s Powell Urges Caution with US Digital Currency
The United States Federal Reserve Chair Jerome Powell said on Monday that it is more important for the US to get it a digital currency right than to just be first in the field. “We do think it’s more important to get it right than to be first and getting …
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19 October 2020 6:25 pm
Lagarde: ECB to Maintain Accommodative Policy
The European Central Bank (ECB) is set to maintain an accommodative policy amid the COVID-19 crisis, said the bank’s President Christine Lagarde on Monday, Reuters reported. Lagarde further revealed that EUR 590 billion of the EUR 1.35 trillion asset purchase programme have already been allocated to help maintain interest rates …
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19 October 2020 6:08 pm
Wall Street Opens Higher on Renewed Hopes For a Stimulus Agreement
Major US stock indices opened higher today, Monday, thanks to hopes that a vaccine for the Coronavirus will be available by the end of the year, while investors are also encouraged by indications that an agreement will soon be reached in Washington on a financial package. The Dow Jones Industrial …
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19 October 2020 5:42 pm
US Wholesale Sales Rose For Fourth Month in a Row
Wholesale sales in the Canadian economy increased for the fourth consecutive month in August, more than analysts’ expectations. data released by Statistics Canada showed on Monday, that wholesale sales in Canada posted an increase of 3% last August compared to 4.3% in July. Analysts had expected that wholesale sales in …
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19 October 2020 5:07 pm
China’s Crude Oil Production Grew by 2.4% in September
Data from the Chinese Bureau of National Statistics showed today, Monday, that China’s crude oil production rose 2.4% year on year in September to 16.1 million tons, while natural gas production increased 7.6% from a year ago. Crude oil production grew 1.7% year on year in the first nine months …
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19 October 2020 4:15 pm
OPEC+ Facing Expectations of Weak Oil Demand
Sources in OPEC+ told Reuters that the group of oil-producing countries will meet on Monday to discuss expectations of weak demand in light of the high cases of Coronavirus and the increase in Libya’s production, but it is unlikely to recommend immediate action. A joint ministerial monitoring committee, including the …
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19 October 2020 3:18 pm
Oil Drops After Chinese Data; All eyes on OPEC+
Oil prices fell today, Monday, after the growth of the Chinese economy in the third quarter of the year was weaker than expected, highlighting concerns about the impact of the growing Coronavirus infections around the world on demand for the largest importer of crude in the world. The world’s second-largest …
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19 October 2020 2:35 pm
European Stocks Are Rising Supported by Strong Results
European stocks rose in early trade on Monday, supported by strong results from Dutch Phillips and Swiss wealth manager Julius Baer, overshadowing concerns about new restrictions imposed to combat the Coronavirus across the continent. The pan-European STOXX 600 index was up 0.8%, resuming its rise after suffering limited weekly losses. …
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