Oil prices increased by more than 2% on Monday, supported by statements from doctors to US President Donald Trump indicating that he could be discharged from the hospital today, a few days after he was diagnosed with the Coronavirus, which caused widespread panic. New information on Trump’s health reduced the …
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
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3 October 2020 1:32 am
Wall Street Narrow Weekly Gains on Trump News
The New York Stock Exchange (NYSE) closed lower on Friday, as Wall Street saw fluctuations after the President of the United States, Donald Trump, and his wife, tested positive for COVID-19. The Dow Jones Industrial Average lost 134.09 points, 0.5%, to close at 27,682.81 points, but rose by 1.9% for …
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3 October 2020 1:24 am
Kashkari: Not Passing Stimulus Will Slow Recovery
President of the Federal Reserve Bank of Minneapolis, Neel Kashkari, said on Friday that the road to economic recovery is long and challenging. “We are a long way from recovering the job market that we had back in January and February.” If Congress fails to pass more relief, more small …
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3 October 2020 1:20 am
Will Congress Pass New Stimulus Before the Elections?
The United States House of Representatives recently passed a $2.2 trillion stimulus package to help the American economy face the impact of the Coronavirus (COVID) pandemic. The bill was passed by the Democratic majority in the house, however, objections from Republicans mean the relief package is not likely to pass …
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2 October 2020 11:51 pm
Oil Prices Record More than 7% Weekly Loss
Oil prices declined on Friday, as markets are still reacting to the news of the President of the United States, Donald Trump, and his wife, testing positive for COVID-19, as well as an increase in US drilling rigs. Crude prices remain impacted by fears of a gloomy demand outlook. Brent …
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2 October 2020 11:45 pm
Gold Narrows Weekly Gains after Trump Contracts COVID-19
Gold prices declined on Friday as markets are still digesting news of the President of the United States, Donald Trump, and his wife, testing positive for COVID-19. The news did not result in a shock or panic buying of the precious metal, which ends the week in gains. Gold futures …
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2 October 2020 9:15 pm
US Oil Rigs Rise by Six to 189
Active rigs drilling for natural gas and crude oil in the United States increased, for the second consecutive week, by 5 rigs to a total of 266, according to the data of the weekly report released by Baker Hughes on Friday. Meanwhile, oil rigs added six more to reach 189 …
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2 October 2020 8:59 pm
Fed’s Kaplan Careful with Bond Buying
The President of the Federal Reserve Bank of Dallas, Robert Kaplan, said on Friday that he would like to be careful about increasing the United States Federal Reserve bond purchases. Kaplan also said on Friday in an interview with the Wall Street Journal that he supports maintaining interest rates near …
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2 October 2020 7:17 pm
US Consumer Sentiment Rises in September
The University of Michigan Consumer Sentiment Index rose to 80.4 in September, up from 74.1 in August, data showed on Friday. The index remains well below its levels prior to the COVID-19 pandemic, which reached a peak of 101 in February, and below its level for the same period last …
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2 October 2020 6:57 pm
US Factory Orders Slightly Rises in August
Factory orders in the United States increased for the fourth consecutive month during August, according to data by Department of Commerce on Friday. Orders levelled up by 0.7% last month, after rising by 6.5% in July. Durable goods orders went up by 0.5%, while nondurable goods orders advanced by 0.8%.
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2 October 2020 5:54 pm
Wall Street Plunged After Trump
Major indexes tumbled on Wall Street at the open after President Donald Trump had tested positive Coronavirus weeks before the presidential election, while sentiment is also affected by the fiscal stimulus and a distant slowdown in the domestic economic recovery. The Dow Jones Industrial Average fell 280.51 points, or 1.01%, …
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2 October 2020 4:58 pm
NFP Rise by 661K in September
Nonfarm Payrolls (NFP) in the US rose by 661,000 in September, the data published by the US Bureau of Labor Statistics showed on Friday. This reading followed August’s increase of 1,489,000 (revised from 1,3171,000) and fell short of the market expectation of 850,000.
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2 October 2020 4:24 pm
ECB: Europe Must Prepare to Launch a Digital Euro ‘if and when’ Necessary
ECB council member Fabio Panetta said the bank should prepare for a digital euro issue that complements securities “if and when” necessary. Major central banks around the world are studying digital versions of their currencies in response to demand for electronic payments and to counter competition from private currencies such …
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