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Market Analysis

July, 2020

  • 8 July 2020 7:28 pm

    EIA: US Oil Inventories up 5.7 M Barrels

    Crude oil inventories in the United States increased by 5.7 million barrels last week, data by the US Energy Information Administration (EIA) showed on Wednesday. This comes after a decrease of 7.2 million barrels in the previous week, and against expectations of another decline. WTI futures are currently trading at …

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  • 8 July 2020 6:42 pm

    IMF Calls for Post COVID-19 Fiscal Reform

    The International Monetary Fund (IMF) is warning against rising debt in both emerging and developed economies due to stimulus spending amid the COVID-19 crisis. The IMF is urging enhanced fiscal reform in many countries after the pandemic ends, said its Deputy Managing Director Mitsuhiro Furusawa on Wednesday, as cited by …

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  • 8 July 2020 6:23 pm

    Spain to Provide EUR 2bn for Transport Companies

    The Spanish government plans EUR 1.8 billion ($2 billion) in aid to support transport companies amid the COVID-19 crisis, said the Minister of Transport, Jose Luis Abalos, as cited by Reuters. Renfewill receive EUR 1 billion, private transport companies will get EUR 673 million, while Seipsa is set to obtain …

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  • 8 July 2020 6:05 pm

    Sterling Settles Below Mid-1.2500s

    Sterling saw both-way movements on Wednesday, but it appears that it has now settled in the neutral territory 1.2540-35. After an early rally to 1.2565-70 region, the pair experienced a slight decline during the European session and was affected by buying around USD. The increasing number of Covid-19 cases provided …

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  • 8 July 2020 5:19 pm

    EIA Revised its Forecasts for Oil Prices

    The US Energy information administration revised its forecasts for oil prices this year and next year, as US crude is expected to rise 6.9% this year compared to last June’s forecast, to $ 37.55 a barrel. The administration also expected that the average American oil price will increase by 4.1% …

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  • 8 July 2020 4:52 pm

    ECB’s de Guindos: Optimism Sparked by Recent Data is Justified

    European Central Bank (ECB) Vice President Luis de Guindos provided insights on euro zone growth and coronavirus economic impact on the block. Recent data justifies optimism over the euro area’s growth amid the coronavirus crisis. The euro zone economy is facing a deep recession, but banks across the euro area …

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  • 8 July 2020 3:27 pm

    UK to Announce More Stimulus

    The UK government is expected to announce more fiscal stimulus measures, which include 3B pounds to improve energy efficiency in homes and commercial property, 1.5B to support industry, arts and entertainment, and 2B to support wages for the young. There were also reports that transaction tax on homes will be partially …

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  • 8 July 2020 3:20 pm

    US Stocks Are Set to Open Lower

    US shares are set to open flat to lower after it halted a five-day winning streak yesterday, on the increase of Covid-19 cases that raises concerns about the economy and the future of growth By 10:30 GMT, S&P 500 Futures were down less than 0.1%, Dow Jones futures down 0.1% …

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  • 8 July 2020 2:33 pm

    Oil Prices Fell with Oversupply Concerns

    Oil prices fell in trading on Wednesday, with expectations of an increase in crude oil inventories and a decline in oil prices due to lack of physical demand and fears over coronavirus pandemic that renewed concerns about the persistence of oversupply. Brent crude for September delivery fell 0.3% to $ …

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  • 8 July 2020 2:15 pm

    EU Says Is Assessing City’s Financial Market Access

    Andrea Beltramello, a European Commission official, told an FIA online event that equivalence assessments for the UK financial services market access are ongoing and take into account how far the United Kingdom will diverge from the bloc’s rules, a European Commission official said on Wednesday. Quotes“Taking into account how far …

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  • 8 July 2020 1:15 pm

    Gold Breaks Above $1,800

    Gold reached $1,800, hitting the highest level since November 2011, surpassing a previous high of $ 1797, and it is now functioning as support. Investors are looking for levels of 1,810 then 1,825, 2011 peaks at under the spotlight at 1,921 and 2000. Gold is ready to post more bullish …

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  • 8 July 2020 12:14 pm

    Pound Rises Above 1.2250

    British Pound higher against USD just above 1.2550, 0.08% on a day, the highest level since June 17, the cable (GBP/USD) was drawing a bullish picture on 4-hours chart with a bullish momentum. The cable broke above a downtrend support line that capped it since late June. Resistance awaits at …

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  • 8 July 2020 11:44 am

    USD Maintains its Gains as Worries Dominate The Market

    USD keep its gains on Wednesday as headlines of an increase in Covid-19 cases in US and lockdown measures in some countries provided the demand for the greenback. Federal Reserve officials have expressed fears that economic growth will be affected by the continued rise of Covid-19 cases in the country …

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