Oil prices closed higher on Thursday, following a decline in US crude inventories, as shown by recent data. Brent futures for November delivery increased by 17 cents, or 0.4%, and finished at $41.94 per barrel. Meanwhile, the West Texas Intermediate (WTI) futures for November delivery settled higher by 38 cents, …
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
September, 2020
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25 September 2020 12:23 am
Gold Rises For First Time This Week
Gold prices rose on Thursday after three consecutive declines, amid higher demand for safe havens in light of uncertainties. In addition, the US Dollar (USD) is reversing a portion of its recent gains, moving in the negative territory. Gold futures for December delivery closed higher by $8.50, or 0.5%, at …
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24 September 2020 11:53 pm
Bullard Sees No Downturn in Case of COVID-19 New Wave
A second wave of COVID-19 infections should not harm the recovery of the United States economy, considering that the death toll from the infectious virus is decreasing, President of the Federal Reserve Bank of St. Louis, James Bullard, said on Thursday, Reuters reported. Meanwhile, President of the Federal Reserve Bank …
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24 September 2020 11:44 pm
Fed’s Evans Calls for More Stimulus and Support
President of the Federal Reserve Bank of Chicago, Charles Evans, said on Thursday that more support is needed for people amid the COVID-19 crisis. “We are taking a very serious and unnecessary risk if we do not extend federal assistance to out-of-work households.”“The longer the dual challenges of the pandemic …
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24 September 2020 11:26 pm
Fed’s Barkin Comfortable With 1.5-2.5% Inflation
President of the Federal Reserve Bank of Richmond, Tom Barkin, said on Thursday that the new policy framework could help boost inflation expectations, noting that the risk of sudden rises in inflation in the future is low, Reuters reported. “While inflation has run below our 2 percent target, as I …
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24 September 2020 11:06 pm
European Stocks Return to Losses
European stocks returned to losses on Thursday, closing lower for the day amid concerns about a second wave of COVID-19 infections. The STOXX Europe 600 index lost 1.05%, while the UK’s FTSE100 dropped by 1.30%. The French CAC40 index plunged by 0.89% and the German DAX index finished lower by …
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24 September 2020 9:23 pm
Uncertainty Looms Around BREXIT Trade Talks
Ireland’s Minister of Foreign Affairs and Trade, Simon Coveney, recently said that the United Kingdom (UK) is making negotiations for a new trade deal with the European Union (EU) more difficult by pushing for legislation that undermines international law. “There is a growing sense that perhaps the United Kingdom does …
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24 September 2020 7:21 pm
US New Home Sales Rise in August
New home sales in the United States increased by 4.8% to a seasonally adjusted annual rate of 1.011 million units in August, according to data released by the US Department of Commerce on Thursday. This is the highest level for new home sales since September 2006, according to Reuters. July’s …
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24 September 2020 6:11 pm
Wall Street Opens Lower as Jobless Claims Rise
Wall Street opened lower Thursday as a sudden increase in jobless claims indicates that the labour market recovery is weak and that more financial support will be necessary to avoid another round of massive and temporary layoffs. The Dow Jones Industrial Average fell 47.04 points, or 0.18%, to 26716.09 points. …
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24 September 2020 5:49 pm
Johnson: Doing Everything We Can to Support Jobs
British Prime Minister Boris Johnson said on Thursday that they are doing everything they can to support jobs and added that he fully supports the package of measures that they have jointly drawn up with Finance Minister Rishi Sunak. “Getting virus under control will be the best thing for jobs …
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24 September 2020 5:12 pm
US Weekly Initial Jobless Claims Edge Higher to 870K
There were 870,000 initial claims for unemployment benefits in the US during the week ending September 19th, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed last week’s print of 866,000
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24 September 2020 5:06 pm
ECB: Unemployment Rate in Will Continue to Rise
The European Central Bank said in a publication on Thursday that the unemployment rate will continue to rise in the Eurozone and that there is a limited increase in consumer demand even as the economy recovers from an unprecedented recession. In the bulletin, which largely reflects the economic expectations and …
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24 September 2020 3:30 pm
Turkey: CBRT increases policy rate by 200 basis points to 10.25%
The Central Bank of the Republic of Turkey (CBRT) announced on Thursday that it raised its policy (one-week repo) rate by 200 basis points to 10.25%. In its policy statement, the CBRT noted that it looks to restore the disinflation process and support price stability with the decision to hike …
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