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Market Analysis

July, 2020

  • 9 July 2020 8:58 pm

    European Stocks Close Lower for Third Day

    European stocks closed lower for the third straight day, amid rising concerns regarding the COVID-19 pandemic and the outlook for economic recovery. The pan-European Stoxx 600 index tumbled by 0.78% to settle at 363.61. FTSE100 dropped by 1.73% to 6,049.62 points, CAC40 fell by 1.21% to 4,921. German DAX index …

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  • 9 July 2020 7:41 pm

    US Natural Gas Storage Rises 56 bcf in Week

    The United States supplies of natural gas increased by 56 billion cubic feet (bcf) last week, according to data by the US Energy Information Administration (EIA) on Thursday. Total natural gas inventories currently stand at 3.133 tcf, up by 685 bcf from a year ago.

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  • 9 July 2020 6:26 pm

    US Wholesale Inventories Down 1.2% in May

    Wholesale inventories in the United States declined during the month of May by 1.2%, meeting market estimates. This comes after inventories increased by 0.2% in April, according to data by the US Department of Commerce. Wholesalers’ sales increased by 5.4% in May, after falling by 16.4% in April, Reuters reported. …

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  • 9 July 2020 6:21 pm

    Dollar Index Back to 96.30

    After a short-term recovery to daily highs in 96.55 / 60 range, dollar fell to 96.30 area on US Dollar Index The demand for the safe-haven remained light for the second consecutive session, after the good sentiment in the market and investors turning to risky assets. Investors focus now on …

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  • 9 July 2020 5:30 pm

    Initial Jobless Claims in US Decreased Below Expectations

    Weekly jobless claims in the U.S. decreased by an estimated 99,000 last week as data released by U.S. Department of Labor Thursday shows. The number reached 1,314,000 initial claims for unemployment benefits in the week ending July 4th, better than market expectations at 1,375,000 and higher than the previous week …

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  • 9 July 2020 5:13 pm

    WHO’s Tedros: Coronavirus Pandemic Still Out of Control in Most Parts of The World

    World Health Organization (WHO) Director-General Dr Tedros Adhanom Ghebreyesus said earlier on Thursday that the coronavirus pandemic is not under control in most parts of the world and it is getting worse. “We know that when countries take a comprehensive approach, the COVID-19 outbreak can be brought under control,” Tedros …

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  • 9 July 2020 4:47 pm

    UK’s Test and Trace System Identifies 14,892 people as Close Contacts of Positive Cases

    The UK’s Department of Health and Social Care said this Thursday that cases identified by England’s test and trace system reached 14,892 people were identified as close contacts of positive COVID-19 cases. The department of Health added that “of these people, 70.8% were reached and asked to self-isolate.” “4,347 people …

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  • 9 July 2020 3:54 pm

    EUR/GBP Near 3-Week Lows

    EUR/GBP maintained its performance in the mid-European session and last seen hovering around its lowest level in three weeks, just above the mid-0.8900s. The pair came under fresh selling pressure on Thursday and expanded its recent retreat from three-month highs set on June 29. Positive sentiment around sterling was the …

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  • 9 July 2020 3:19 pm

    Euro is Ready to Return to June highs

    The Euro stalled its advance on Dollar Thursday after facing technical resistance and as stock market futures dipped lower across in the US, although the single currency ready to return to June highs before the week is out.  Euro is currently trading at 1.1327, down 0.03% against the US dollar, …

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  • 9 July 2020 2:38 pm

    Russia Has no Plans to Hold meeing with Saudi Arabia

    Russia has no plans to hold any talks with Saudi Arabia at the present time before OPEC+ ministerial monitoring committee meeting next week’s. Market reaction Oil prices ignored that news and WTI crude was trading at the time of writing at $ 40.75, losing 0.25% on a daily basis. Brent …

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  • 9 July 2020 1:14 pm

    UK on course to borrow 350 billion pounds in 2020/21

    British government borrowing is on course to surge to around 350 billion pounds ($442 billion) this year following the latest spending measures announced by finance minister Rishi Sunak, the Institute for Fiscal Studies estimated on Thursday. “Back in March, the government forecast a deficit of about 50 to 60 billion …

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  • 9 July 2020 12:42 pm

    German Exports Rebounded Less Than Expected

    German exports rebounded less than expected in May, as data released on Thursday showed; demand remained weak despite the easing of lockdown measures that had been imposed to contain the spread of the virus. The Federal Statistical Office said that seasonally adjusted exports increased by 9% on a monthly basis …

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  • 9 July 2020 12:17 pm

    Sentiment Affects USD

    US dollar weakened during early European trading on Thursday, as traders looking towards risky currencies amid expectations of strong economic growth, which reduced the demand for USD as a safe-haven currency. Concerns remain over the outbreak of Covid-19, which keeps the currency pairs in a narrow trading range. However, the …

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