The US Dollar (USD) is recovering on Thursday from some of its recent losses, which brought the greenback to its lowest level in nearly two years. The USD is trying to gain some support from the recent remarks by the US Federal Reserve that reiterated the commitment to support the …
Read More »Mark Carney Takes the Helm: Canada’s New PM Faces Trump and Global Trade Challenges
Newly-appointed Canadian Prime Minister Mark Carney officially assumed office on Friday morning, suc…
Oil Gains Amidst Geopolitical Tempest and Shifting Demand Forecasts
Despite a week dominated by fluctuating geopolitical tensions and evolving economic forecasts, oil p…
Fresh Deadline Drama: Senate Poised to Avert Shutdown
Funding Bill on the Brink of PassageThe Senate is set for a pivotal test vote this afternoon on the …
PPI Shadowed: GBP/USD Wobbles Amid GDP Shock and Surging US Inflation Fears
The Pound Sterling (GBP) faced renewed pressure against the US Dollar (USD) this week, with GBP/USD …
Changpeng Zhao Denies Ties of Trump Family Ties and Binance Amid Controversy
Changpeng Zhao (CZ), the founder and former CEO of Binance, the globe’s largest cryptocurrency…
Gold Shatters $3,000 Barrier: Historic Safe-Haven Surge Amid Global Uncertainty
In a landmark moment, gold prices surged past the $3,000 per ounce threshold on Friday, marking an a…
Bristol Myers Squibb Gains Expanded EU Approval for CAR-T Therapy Breyanzi
The European Commission has granted Bristol Myers Squibb (NYSE: BMY) an expanded approval for its CA…
Forex Market Overview: Yen Weakens, Pound Slips, Dollar Recovers
The Japanese yen weakened on Friday after concluding union wage negotiations, while the British poun…
Oil Prices Rebound as Ukraine Conflict Persists, Trade War Concerns Loom
Oil prices bounced back on Friday, recovering some of the previous session’s losses, as the Uk…
Gold Prices Hold Near Record Highs Amid Trade Tensions, Rate Cut Expectations
Gold prices remained steady at all-time highs in Asian trading on Friday, driven by escalating U.S.-…
Market Analysis
July, 2020
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30 July 2020 2:26 pm
German GDP Contracts by 10% in Q2
Germany’s gross domestic product (GDP) recorded its worst decline on record during the second quarter (Q2) of 2020, contracting by 10.1%, as shown by preliminary official data. Moreover, the German economy contracted by 11.7% on annual basis during Q2 of 2020. The COVID-19 crisis has negatively impacted Germany and much …
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30 July 2020 2:13 pm
Eurozone Economic Sentiment Improves in July
Economic sentiment in the Eurozone rose more than expected in July to 82.3 points from a revised reading of 75.8 in June, according to data by the European Commission. The improvement comes amid the easing of lockdowns and preventive measures against the coronavirus disease (COVID-19). The industry sentiment recorded -16.2 …
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30 July 2020 2:00 pm
German GDP Shrinks at Record Rate in Q2
The German economy contracted in the second quarter of 2020 by 10.1% vs. -9.0% expected, it’s the biggest decline on record, as shown by preliminary data on Thursday. On a yearly basis, the German gross domestic product (GDP) contracted 11.7% vs. -10.9% decline expected by analysts, according to the German …
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30 July 2020 1:32 pm
Germany’s Unemployment Rate Declined in July
The seasonally adjusted unemployment rate in Germany came in at 6.4% in July vs. 6.5% expected. The figure is better than expected by analysts. Data released earlier beat expectations with the unemployment change falling by 18k in seasonally adjusted terms compared to estimates of an increase of 43k. The adjusted …
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30 July 2020 1:06 pm
EUR/GBP Keeps The Red Near Session Lows
The Euro weakened slightly during the early European session and pushed EUR/GBP to daily lows near the middle of 0.9000 after the German GDP figures. After a short consolidation during the first part of Thursday’s trading, the pair faced some new offers and fell near its lowest levels in a …
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30 July 2020 12:26 pm
Democrats Don’t Agree on All Relief Bill Aspects
U.S. president Donald Trump said on Wednesday that his administration and Democrats in Congress were far apart in their efforts to agree on a coronavirus relief bill, as reported by Reuters. And according to Reuters, Trump accused Democrats of not taking care of Americans with their proposals, and said when …
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30 July 2020 12:20 pm
US 10-year Yield Posting Record Low
The yield on 10-year (inflation-adjusted) US Treasury bonds fell to a new low of -0.95% on Wednesday after the Federal Reserve reiterated its interest-rate keep plan to its lowest levels in the foreseeable future. Jerome Powell, Chairman of the Federal Reserve, said that monetary policy will remain accommodative until the …
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30 July 2020 12:13 pm
China to Support Export Businesses
China plans to boost exports by providing trade-oriented companies with capital and market support, Citing the weekly State Council meeting held Wednesday, the People’s Daily reported this Thursday. Initiatives aim to attract foreign investment through a strengthened political environment and the expansion of the services trade sector. The government stressed …
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30 July 2020 12:04 pm
FX Option Expiries For July 30 NY Cut
FX option expiries for July 30 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – USD/JPY: USD amounts 105.00 712m105.55 524m 105.75 500m 106.00 1.9bn
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30 July 2020 12:02 pm
Austrian Economy Shrank by 10.7% in Q2
Wifo said on Thursday that the Austrian economy shrank by 10.7% in the second quarter, marking the largest contraction since World War II as the Corona pandemic hit domestic and foreign demand. Wifo, which is complies data for the government, said that the hardest hit sectors are retail, hotels, restaurants, …
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30 July 2020 4:03 am
Daily Recap: Wednesday, July 29, 2020
Today’s biggest event was the conclusion of the US Federal Reserve two-day meeting, which as expected decided to maintain interest rates near 0% and vowed to maintain the historically low rates until the economy recover from the impact of the COVID-19 crisis. Meanwhile, gold continues to make history with new …
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30 July 2020 3:06 am
US Treasury Yields Mixed Following Fed’s Statement
The US Treasury yields showed mixed movements on Wednesday, following the Federal Reserve’s decision to maintain interest rates near zero, with the monetary policy statement vowing to maintain the current interest range until economic recovery is achieved. The benchmark 10-year Treasury bond yield declined 0.5 basis point (bps) to 0.576%. …
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