The Canadian Dollar (CAD) declined on Thursday against its US counterpart (USD) to its lowest level in about a month. This comes as the USD is recovering across the board, while the CAD remains hit by the falling oil prices. The USD/CAD is trading higher for the day by 0.24% …
Read More »Gold Edges Higher as Softer U.S.–China Tone Offsets Profit-Taking; Silver Near Records
Gold rebounded on Monday, reclaiming part of last week’s pullback as traders digested more conciliat…
U.S. Futures Edge Higher on Hopes for China Talks; Big Tech Earnings, Inflation Data in Focus
U.S. stock index futures rose Monday as signs of renewed U.S.–China dialogue buoyed risk sentiment a…
Bitcoin Extends Rebound as Softer U.S.–China Rhetoric Lifts Risk Appetite
Bitcoin advanced on Monday, building on a weekend bounce as cooler rhetoric around the U.S.–China tr…
Oil Extends Slide on China Demand Worries, Supply Risks, and Fading Geopolitical Premium
Crude prices fell for a third session on Monday, adding to last week’s losses as fragile demand sign…
Europe Opens Higher as Asia Rally Lifts Sentiment; Earnings Deluge Ahead
European equities started the week on the front foot, tracking gains in Asia and stabilizing after F…
China Q3 2025 growth beats forecasts but slows to one-year low as disinflation, trade risks bite
China’s economy expanded slightly faster than expected in the third quarter, even as momentum cooled…
Market weekly wrap: Government shutdown could have an end soon
Markets kicked off last week on a cautious note after President Donald Trump announced late Friday a…
Wall Street Bounces Back: Dow Surges as Trade Hopes and Fed Bets Lift Market Mood
After a turbulent week marked by financial sector jitters and political uncertainty, the Dow Jones I…
Gold Retreats from Record High as Trump Softens Stance on China
Gold’s meteoric rise hit a speed bump on Friday, slipping 2% from its all-time high after U.S. Presi…
Washington Stalemate Deepens: U.S. Government Shutdown Hits 17 Days With No End in Sight
The United States government shutdown entered its 17th day on Friday, making it the third-longest in…
Market Analysis
October, 2020
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29 October 2020 7:40 pm
OPEC+ Output Cuts Facing Uncertainty Next Year
Major crude oil producers in the Arabian Gulf are considering whether to extend output curbs into 2021, Reuters reported. The current OPEC+ agreement indicates that by the end of the year, production cuts will be eased by 2 million barrels per day (b/d). However, it is widely expected that the …
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29 October 2020 7:26 pm
US Pending Home Sales Down 2.2%
The United States Pending Home Sales Index declined by 2.2% to 130, according to data by the National Association of Realtors released on Thursday. On an annual basis, pending home sales increased by 20.5%.
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29 October 2020 7:19 pm
US Natural Gas Supplies Up 29 BCF in Week
Natural gas inventories in the United States increased by 29 billion cubic feet last week, below market expectations, according to data by the US Energy Information Administration (EIA) on Thursday. Gas stockpiles now stand at 3.955 trillion cubic feet. This means an increase of 285 billion cubic feet compared with …
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29 October 2020 5:56 pm
US Economic Activity Rebounds Sharply in Q3
The United States’ Real Gross Domestic Product (GDP) expanded at an annual rate of 33.1% in the third quarter, the US Bureau of Economic Analysis’ advance estimate showed on Thursday. This reading came in better than the market expectation of +31% and followed the 31.4% contraction recorded in the second …
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29 October 2020 5:48 pm
US: Weekly Initial Jobless Claims Decline to 751K
There were 751,000 initial claims for unemployment benefits in the US during the week ending October 24th, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed last week’s print of 791,000 (revised from 787,000) and came in slightly better than the market expectation …
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29 October 2020 5:23 pm
ECB Leaves Key Rates Unchanged in October as Expected
At its monetary policy meeting held on October 29th, the Governing Council of the European Central Bank (ECB) decided to leave the interest rates on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.50%, respectively, as …
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29 October 2020 5:22 pm
Germany: Annual HICP Drops to -0.4% in September
Inflation in Germany, as measured by the Consumer Price Index (CPI), was 0.1% (preliminary) in October, the data published by Destatis showed on Thursday. This reading followed September’s print of -0.2% and came in higher than the market expectation of 0%. On a yearly basis, the CPI stayed unchanged at …
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29 October 2020 3:56 pm
US Consumer Confidence Rebounds
On Thursday, the Bank of Japan trimmed its forecast for the economy and prices in the current fiscal year, but revealed a more optimistic view about the chances of recovery, indicating that the stimulus measures it took are sufficient so far. The central bank warned that the outlook is shrouded …
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29 October 2020 3:34 pm
Eurozone Consumer Confidence Declines to -15.5 in October as Expected
The Consumer Confidence for the euro area and the EU both declined by 1.6 points in October and arrived at -15.5 and -16.5, respectively, the data published by the European Commission showed on Thursday. Further details of the publication revealed that the Industrial Confidence for the euro area improved modestly …
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29 October 2020 2:35 pm
Oil Continues Losses Amid Renewed Fears of Coronavirus and a glut of supply
Oil prices continue their losses after losing 5% in the previous session, with governments re-imposing restrictions to contain the second wave of cases with the Coronavirus, and amid indications of a growing global supply glut. By 0743 GMT, US West Texas Intermediate crude futures were down 8 cents, equivalent to …
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29 October 2020 1:21 pm
Japan Stocks Decline to Lowest Levels in a Month
Japanese stocks fell to their lowest levels in a month today, Thursday, under the weight of fears about new closures to combat the Coronavirus in Europe, but the optimistic expectations of companies during the results season limited the losses. The benchmark Nikkei index closed 0.37% at 23,331.94 points. The Nikkei …
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29 October 2020 12:07 pm
PBOC Sets Yuan Reference Rate at 6.7195
The People’s Bank of China (PBOC) has set the yuan reference rate at 6.7260 versus Wednesday’s fix at .
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