Homebuilding in the U.S. increased in June with reports of rising demand for housing in low-density areas as companies allowed employees to work from home due to the pandemic. On Friday, the Ministry of Commerce said housing starts rose 17.3% to a seasonal annual rate of 1.186M. May data was …
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
-
17 July 2020 5:13 pm
New Record For Covid-19 Cases in US
The United States set a new record in the number of new cases of Covid-19, with 77,300 new cases recorded on Thursday, bringing the total number of current cases to over 3.5 million in the United States.The number of deaths associated with Covid 19 rose to 924, the highest since …
Read More » -
17 July 2020 4:32 pm
European Council Meeting For Two Days to Discuss The Economy Rescue Package
EU leaders are meeting Friday and Saturday in Brussels to discuss the recovery plan to respond to the COVID-19 crisis and a new long-term EU budget. This is the first physical meeting since the coronavirus pandemic started. The meeting will be dedicated to discussing the multiannual budget of the EU …
Read More » -
17 July 2020 3:45 pm
BoE’s Bailey: Financial Markets Indicate Interest Rates Will Stay Very Low
Bank of England (BoE) Governor Andrew Bailey said on Friday that the “financial markets indicate that interest rates will remain very low.” “People can see that we are committed to keeping markets stable via quantitative easing,” Bailey said, adding that “there is a legitimate question about what we do with …
Read More » -
17 July 2020 2:52 pm
UK PM Johnson: Ministers Will be Able to Close Whole Sectors in an Area
The national lockdown in the UK was undoubtedly the right thing to do, British Prime Minister Boris Johnson reiterated on Friday. Quotes“We can now control the virus through targeted local lockdowns.”“We are publishing framework for containing future outbreaks.”“Local authorities will be given new powers from tomorrow.”“Ministers will be able to …
Read More » -
17 July 2020 2:12 pm
ECB Survey Reflects Optimism About The European Economy
The bank’s Survey of Professional Forecasters showed on Friday showed on Friday that the Eurozone economy may contract this year less than what the European Central Bank (ECB) expected and may recover faster. The quarterly survey sees the economy shrinking by 8.3% this year, a downgrade from its May projection …
Read More » -
17 July 2020 1:38 pm
Eurozone CPI rises 0.3% MoM
Eurozone CPI rose 0.3% year-on-year, in line with expectations, according to Eurostat’s final reading of the Eurozone CPI report for June. The key figures came in line with expectations as well, reaching 0.8% in the same month. On a monthly basis, the main Eurozone CPI rose by 0.3% in June, …
Read More » -
17 July 2020 1:04 pm
China’s Fiscal Revenue up 3.2% in June
China’s fiscal revenue increased by 3.2% in June compared to last year, reflecting a 10% decrease in May with a return to expansion for the first time this year and in line with the recovery in the economy. China’s Finance Ministry said on Friday Ministry of Finance Liu Jinyun told …
Read More » -
17 July 2020 12:19 pm
Europe Stocks to Open Higher
European stock markets are set to open higher on Friday, amid hopes for additional stimulus to the region as Covid-19 continue to rise. The futures of the German DAX increased by 0.3%, the British FTSE 100 recorded 0.2% and the French CAC index increased by 0.1%. (06 GMT( European Union …
Read More » -
17 July 2020 11:54 am
Asia Stocks Rebound
Asian stocks posted gains on Friday and US stocks futures also bounced, with increasing hopes for government spending around the world that will soften the impact of the pandemic with concerns about the increasing number of cases and the worsening tensions between Washington and Beijing. pan-European Euro Stoxx 50 futures, …
Read More » -
17 July 2020 11:45 am
Oil Prices Are Falling Due to Covid-19
Oil prices retreated on Friday, as trading was cloudy over the global recovery in fuel demand and growing uncertainty, while cases of COVID 19 rise steadily in several countries with major producers prepared to ease production restrictions. Brent crude futures fell 11 cents, or 0.3%, to $ 43.26 a barrel …
Read More » -
17 July 2020 11:25 am
Gualtieri: Fight Hard Not to Modify the Recovery Fund
Ahead of Friday’s European Union (EU) summit, Italian Economy Minister Roberto Gualtieri reiterated the country’s support for the new recovery fund worth 750B euros. Adding that they will try not to modify the overall amount or the breakdown between grants and loans to try and achieve that goal.As mentioned before, …
Read More » -
17 July 2020 3:02 am
Williams: Emergency Lending Helped Ease Credit Markets
The President of the Federal Reserve Bank of New York, John Williams, said that the Fed’s emergency lending have helped ease credit markets disrupted by the COVID-19 pandemic, Reuters reported. “The scale and reach of the response is an indication of the gravity and unique nature of the situation we …
Read More »