European stocks fell on Thursday after the Bank of England forecast; the economic recovery to be slower after the pandemic, which affected the London stock markets. The pan-European STOXX 600 index slipped 0.3%, with London’s FTSE 100 falling 1.4%. After seeing a rally in the previous session on the back …
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Oil Gains Amidst Geopolitical Tempest and Shifting Demand Forecasts
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Fresh Deadline Drama: Senate Poised to Avert Shutdown
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PPI Shadowed: GBP/USD Wobbles Amid GDP Shock and Surging US Inflation Fears
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Changpeng Zhao Denies Ties of Trump Family Ties and Binance Amid Controversy
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Gold Shatters $3,000 Barrier: Historic Safe-Haven Surge Amid Global Uncertainty
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Bristol Myers Squibb Gains Expanded EU Approval for CAR-T Therapy Breyanzi
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Forex Market Overview: Yen Weakens, Pound Slips, Dollar Recovers
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Gold Prices Hold Near Record Highs Amid Trade Tensions, Rate Cut Expectations
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Market Analysis
August, 2020
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6 August 2020 1:57 pm
UK Construction Activity Jumps in July
Thursday’s survey data showed that the British construction industry grew at the fastest rate in almost five years in July as business rebounded after the Covid 19 lockdown, reflecting a rebound in manufacturing and parts of the services sector. However, the services sector still has a long way to go …
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6 August 2020 12:42 pm
Crude Oil Futures Lower During Asian Session
According to the New York Mercantile Exchange, crude oil futures for September were traded at $42.14 a barrel, down 0.12%. It was previously traded at a session low of $42.02 a barrel. Crude oil may find support at $39.58 and resistance at $43.52. The dollar index, which measures the performance …
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6 August 2020 12:16 pm
Gold Futures Rose During Asian session
According to the COMEX, gold futures for October were traded at $ 2051.60/ounce, up 0.71%. It was previously traded at a session high of $2052.20/ounce. Gold may find support at $1960.00 and resistance at $2057.50. The dollar index, which measures the performance of the greenback against a basket of six …
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6 August 2020 12:08 pm
Japan Stocks Fell by Weak Season
Japanese stocks fell on Thursday as investors continued to shy away from risky bets amid a weak earnings season, but Toyota shares surged after unexpectedly avoided a loss last quarter. The Nikkei fell 0.43% to 22,418.15 points, and technology and consumer goods stocks were the most declining. The broader TOPIX …
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6 August 2020 11:23 am
German Industrial Orders Growth Accelerated in June
Data from the Federal Statistics Office reported that orders for German industrial goods increased sharply in June as Europe’s largest economy began to set aside the effects of months of public isolation measures aimed at fighting the spread of the Covid-19, but volumes were still well below pre-pandemic levels. Orders …
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6 August 2020 10:46 am
BOE Leaves Monetary Policy Unchanged
The Bank of England’s (BOE) Monetary Policy Committee (MPC) decided to leave the policy rate unchanged at 0.1% at its June policy meeting as expected. Furthermore, the BOE held the Quantitative Easing (QE) program unchanged £745 billion.
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6 August 2020 10:45 am
FX Option Expiries For Aug 6 NY Cut
FX option expiries for Aug 6 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1700 1.2bn1.1725 1.1bn – GBP/USD: GBP amounts 1.3000 708m – USD/JPY: USD amounts 105.00 2.8bn USD105.25 660m105.60 385m105.65 630m105.75 467m105.85 380m106.00 444m106.25 945m106.50 715m 106.75 680m – AUD/USD: AUD amounts 0.7150 …
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6 August 2020 1:30 am
Daily Recap: Wednesday, August 5, 2020
Demand for safe havens continues to shape the market, while the stock market remains largely dependent on earnings reports. Gold prices continued to make new historic high levels, while oil prices rose to their highest level in five months. This has provided support for commodity currencies such as the Canadian …
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6 August 2020 12:14 am
Wall Street Settles Higher on Positive Reports
Positive earnings reports by some of the Wall Street listed companies led the indices of the New York Stock Exchange (NYSE) to close higher on Wednesday. The Dow Jones Industrial Average gained around 373 or 1.4% and closed at 27,201.5. Meanwhile, the S&P 500 and the Nasdaq Composite indices closed …
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5 August 2020 11:48 pm
Oil Settles at Highest Level in Five Months
Oil prices settled higher on Wednesday, at its highest closing level in about five months, after data showed a more than expected decline in US crude inventories. Brent crude futures for October delivery closed higher by 74 cents or 1.7% at $45.17, its best since March 6. Meanwhile, the West …
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5 August 2020 10:59 pm
European Stocks Rise Collectively
European stocks closed higher on Wednesday, supported by a number of positive financial results by listed companied, despite mixed economic indicators as shown by PMI data. The Stoxx Europe 600 index added 0.43% and closed at 364.95 points. FTSE100 surged by 1.14% while CAC40 increased by 0.90% and DAX gained …
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5 August 2020 10:37 pm
Gold Rally Continues Near $2,050 per Ounce
Gold prices rose on Wednesday reaching another record high level on the back of increased demand for the previous metal. Gold futures for December delivery added $28.30 or 1.4% and settled at $2,049.30 per ounce. The yellow metal has now gained about 34% since the beginning of 2020.
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