The headline German IFO Business Climate Index came in at 90.5 in July, better than last month’s 86.2 while beating the consensus estimates of 89.3. Meanwhile, the Current Economic Assessment arrived at 84.5 points in the same month as compared to last month’s 81.3 and 85.0 estimated. On the other …
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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27 July 2020 11:49 am
European Stocks Seen Higher
European stock markets opened higher on Monday, supported by signs of recovery from China, along with the continued corporate earnings season. However, it gave up some of those gains with negative news about COVID-19 cases and tensions between the United States and China. At 06:05 GMT, DAX futures in Germany …
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27 July 2020 11:07 am
Gold Hits Record High, Stocks Mixed
The yellow metal rose to all-time high on Monday as relations between the United States and China deteriorated, sparking demand for the safe metal while market sentiment was mixed ahead of more earnings reports. Gold rose 1.6% to a record $ 1.943 an ounce, exceeding its peak in September 2011 …
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27 July 2020 10:28 am
China Reports 61 New Covid-19 Cases
The National Health Commission of China said on Monday that it had recorded 61 new infections with the COVID 19 up from 46 the previous day, adding that it had detected the most significant number of local infections with the virus since early March. The commission said the new number …
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27 July 2020 9:49 am
Weekly Recap 20-24 July
Tensions between the world’s two largest economies, the United States, and China continues to increase next to increase in the number of new cases of Covid-19, particularly in the United States, all this cast a shadow over the markets as President Trump took some decisions related to China with accusations …
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25 July 2020 1:30 am
Daily Recap: Friday, July 24, 2020
The world economy is showing strong signs of recovery, according to recent PMI data from Europe and the US, however, the rising number of COVID-19 cases in the US and escalating political tensions between Washington and Beijing left a toll on stock markets and increased the demand for safe havens. …
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25 July 2020 12:51 am
Wall Street Record Weekly Losses
The New York Stock Exchange (NYSE) settled lower on Friday, recording weekly losses, impacted by the rising tensions between the US and China and the increasing number of COVID-19 cases in many states across the US. The Dow Jones Industrial Average lost 182.44 points or 0.7% and closed at 26,469.9, …
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25 July 2020 12:44 am
WTO: Global Trade Was Hit by COVID-19
A recent report by the World Trade Organization (WTO) showed that global trade was negatively impacted by the restrictions imposed against the coronavirus disease (COVID-19). The WTO previously estimated an 18% drop in trade around the world during the second quarter (Q2) of 2020. “Although the full impact of the …
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25 July 2020 12:31 am
USD Maintains Losses with Rising Safe Haven Demand
The US Dollar (USD) is trading lower against major currencies on Friday, with the market seeing rising demand for safe havens, in light of the escalating tensions between the US and China and the rising number of COVID-19 cases across many countries. The demand for safe haven, evident by gold …
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25 July 2020 12:12 am
Oil Resumes Gains Despite Uncertainties
Oil prices closed higher on Friday, ending a week of fluctuations due to a collection of upward and downward factors. From one side, demand seems to be in the recovery phase, hence, the recent OPEC+ agreement to raise output by 2 million barrels per day, in addition to other positive …
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24 July 2020 11:39 pm
Gold Settles at New All-Time High
Gold prices closed higher on Friday at a new record level, supported by increased demand for safe haven, which is driven by rising US-China tensions and the increasing number of COVID-19 cases in many countries. Today, gold futures for August were trading as high as $1,900 an ounce, but then …
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24 July 2020 10:28 pm
US Oil Rigs Rise for First Time in Four Months
Oil rigs in the United States increased by one rig last week to a total of 181 active rigs, according to data by Baker Hughes. This is the first increase in oil rigs since mid-March, with recent declines attributed to lower oil prices amidst decreased demand because of the COVID-19 …
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24 July 2020 9:16 pm
European Stocks Down 1.5% for the Week
European stocks closed lower on Friday on the back of rising tensions between the United States and China. Beijing has retaliated against a move by the US to close the Chinese consulate in Houston, Texas, and revoked the license of the US consulate in Chengdu. In addition, tech sector stocks …
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