Gold prices fell as the appetite for risk improved after the US Drug Administration approved the use of blood plasma for people recovering from Covid-19 disease as a treatment option, while the dollar rose. With the closure of the Tokyo Stock Exchange, the spot price of gold was down 0.4% …
Read More »USD/JPY Slips to 145.00 Amid US Dollar Woes and Japan’s Spending Surge
The USD/JPY pair retreated to 145.00 on May 9, 2025, after failing to sustain gains above a one-mont…
Gold Advances at $3,325.39 as Dollar Weakens and Global Tensions Flare
Gold prices surged over 1% on May 9, 2025, reaching $3,325.39 per ounce, as a weakening US Dollar an…
Trump Stands Pat on Tariffs Even as New Trade Pacts Loom
On May 9, 2025, President Donald Trump declared that the US would maintain a universal 10% tariff on…
Dollar Dips as Stock Surge and Fed Hints at Rate Cut Loom
The US Dollar retreated from its near-monthly peak on May 9, 2025, as a wave of stock buying swept t…
Wall Street Futures Muted as Investors Await U.S.-China Trade Talks; Nvidia Eyes China Chip Shift
U.S. stock futures traded cautiously on Friday, as market participants held back ahead of a key roun…
Oil set for weekly gain on Easing Trade Tensions, UK Deal Boosts Sentiment
Oil prices extended gains on Friday, with benchmarks poised to end the week higher as optimism aroun…
Forex Report: Dollar Eases but Heads for Weekly Gain Amid Cooling Trade Tensions and Cautious Fed
The U.S. dollar slipped slightly in early European hours on Friday, though it remained on track for …
European Stocks Climb on Optimism Over U.S.-U.K. Trade Deal and Easing Tensions
European equity markets rose on Friday, buoyed by optimism that the newly signed trade framework bet…
Gold Rebounds as Market Eyes U.S.-China Trade Talks Following UK Framework Deal
Gold prices edged higher in Asian trading on Friday, recovering from two days of sharp declines, as …
Oil Prices Edge Higher as U.S.-China Trade Talks and U.K. Deal Offer Glimmers of Optimism
Oil prices extended gains on Friday, building on a sharp rally in the prior session, as easing trade…
Market Analysis
August, 2020
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24 August 2020 11:53 am
Nikkei rises, Focus on Prime Minister Abe’s Health
Japanese stocks closed higher, deriving direction from the gains of their Asian counterparts, but growing speculation over Prime Minister Shinzo Abe’s health dented the mood. The benchmark Nikkei index rose 0.28 percent to close at 22,985.51 points, while the broader Topix index rose 0.19 percent to 1,607.13 points. Trading volumes …
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24 August 2020 11:33 am
Oil Rises as Two Storms Approach Gulf of Mexico
Crude oil prices rose on Monday as two storms approached the Gulf of Mexico, cutting more than half of oil production there, and amid optimism about the Coronavirus, after the US Food and Drug Administration allowed the use of blood plasma from recovered patients as a treatment option. Brent futures …
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24 August 2020 11:22 am
Trump Adviser Kellyanne Conway to Resign
Kellyanne Conway, a senior adviser to President Trump, will leave the White house at the end of the month. Conway, whose title is counselor to the president, has resigned citing the need to focus on her family, according to The Washinton Post.
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24 August 2020 10:53 am
Coronavirus Update
The latest coronavirus (COVID-19) updates from China have been upbeat as all 16 cases on August 23 reported as imported infections. “This compared with 12 new COVID-19 cases reported a day earlier, all imported too and marked the eighth consecutive day of no locally transmitted cases. The total number of …
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24 August 2020 10:23 am
PBOC Sets Yuan Reference Rate at 6.9194
The People’s Bank of China (PBOC) has set the yuan reference rate at 6.9194 versus Friday’s fix at 6.9107.
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24 August 2020 10:23 am
New Zealand Has Extended Lockdown Till Aug 30
New Zealand’s Prime Minister Jacinda Ardern has extended the coronavirus lockdown till Aug. 30. While the city of Auckland is under alert level 3 restrictions, the rest of New Zealand remains at level 2, Ardern said, while adding that Auckland will move to level 2 after Aug. 30. New Zealand …
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22 August 2020 2:45 am
NYSE Ends Week with Two New Records
The New York Stock Exchange (NYSE) closed higher on Friday, logging weekly gains, with The Dow Jones Industrial Average surged by 0.69% to close at 27,930.33, nearly unchanged compared with its level by the end of last week. The S&P 500 index increased by 0.34% and closed at a new …
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22 August 2020 1:54 am
Oil Records Weekly Losses on Demand Concerns
Oil prices closed Friday lower, despite a decrease in the United States active oil rig count to a record low, amid renewed concerns regarding demand outlook. This comes after PMI data showed that the global economic recovery is not accelerating. Brent crude futures for October delivery lost 55 cents, or …
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22 August 2020 12:32 am
Gold Records Second Consecutive Weekly Decline
Gold prices rose on Friday, narrowing its weekly losses for the second week in a row. This comes amid the US Dollar recovering some of its recent losses after falling to its lowest level in two years. Gold futures marginally rose by 50 cents, or about 0.1%, and finished at …
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21 August 2020 10:04 pm
China Promises Following Trade Deal with US
The Chinese government has promised the United States to go through with the first phase of the trade deal between the world’s two largest economies, US Secretary of State Mike Pompeo said in a TV interview on Friday. “The Chinese have done some of the work they need to do …
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21 August 2020 9:55 pm
European Stocks Finish Lower on Negative Data
European stocks finished lower on Friday, after PMI data showed a decline in economic expansion in the Eurozone, reflecting challenges in the road to recovery from the impacts of the COVID-19 crisis. The Stoxx Europe 600 index closed lower by 0.21%, increasing its weekly losses to 0.9%. Meanwhile, the UK’s …
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21 August 2020 9:50 pm
EUR/USD Falls Following PMI Data
The IHS Markit flash composite purchasing managers’ index (PMI) for the Eurozone declined in August, to 51.6 from 54.9 in July, reflecting the challenging road for recovery facing economic activity in the European bloc. However, the index remained in the expansion territory above the neutral 50 reading. The data …
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