Oil prices rose on Tuesday to its highest level in about five months, supported by positive economic data that signals the global recovery from the economic impacts of the COVID-19 crisis. The global benchmark Brent crude futures rose by 28 cents or 0.6% and settled at $44.43 per barrel, its …
Read More »Gold Prices Steady as Risk Appetite Grows; Platinum Hits Four-Year High Ahead of U.S.-China Trade Talks
Gold prices showed little movement on Monday during Asian trading, maintaining strong gains from the…
Oil Prices Decline Amid Weak China Data, But Trade Talks Fuel Optimism for Future Demand
Oil prices dipped on Monday, as weak economic data from China weighed on market sentiment. However, …
Weekly Recap: Dollar Roars Back on Jobs Data Testing Euro’s Rally and Gold’s Resilience
Labour Market Powers Dollar Surge Robust U.S. jobs data for May 2025, with 139,000 jobs added, under…
USD Faces Downside Risks as NFP Data Looms
The US dollar teeters near multi-month lows, trading around 98.5, as markets await the Nonfarm Payro…
EUR/USD Retreats as ECB Signals Policy Pause
The EUR/USD pair recently pulled back from a multi-week high near 1.1500, trading at 1.143 with a mo…
Oil Prices Slip as U.S. Fuel Stockpiles Rise, Saudi Price Cuts Add Pressure
Oil prices fell in Asian trade on Thursday, extending losses from the previous session as rising U.S…
The Euro’s Moment? Weak US Data and ECB Action Set the Stage
The euro strengthened against the US dollar, with the EUR/USD pair climbing above 1.14. This shift c…
Post ADP Data: USD/JPY Decline Highlights Yen’s Strength, Economic Shifts
The Japanese Yen is gaining momentum against a faltering US Dollar, with the USD/JPY pair dropping b…
Uncertainty Fuels Gold’s Surge as US Data Signals Slowdown
Rising amidst economic headwinds, gold has once again demonstrated its traditional role as a safe-ha…
Explainer: What Implications China’s Economic Slowdown Could Have On World Markets
China’s economy, the world’s second-largest, is faltering, sending ripples of concern through global…
Market Analysis
August, 2020
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4 August 2020 10:56 pm
Gold Futures Close above $2,020 per Ounce
Gold prices surged on Tuesday, closing at a new record level due to increased demand on safe havens and a decline in US Treasury bond yields. Despite the US Dollar (USD) showing recovery signs on the back of positive economic data, the precious metal was over to continue its upward …
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4 August 2020 10:47 pm
IMF: Current Account Imbalances to Decline in 2020
The global current account imbalances have narrowed in 2019 as international trade slowed, and the COVID-19 could further narrow it in 2020, the International Monetary Fund (IMF) said in a report on Tuesday, Reuters reported. However, commodity exporters and countries that depend on tourism are expected to register current account …
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4 August 2020 10:25 pm
AUD Rises Following RBA Statement
The Australian Dollar (AUD) is rising across the board against major currencies, supported by the recent decision and policy statement by the Reserve Bank of Australian (RBA). As expected, the RBA maintained its main rate at 0.25%, a historically low rate, which aims to curb the effects of the COVID-19 …
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4 August 2020 9:08 pm
European Stocks Close Lower
European stocks settled lower on Tuesday, as the STOXX Europe 600 index declined by 0.17% to 363.03. DAX declined by 0.36% and IBEX35 dropped by 0.67%, as the shares of Bayer fell by 2.4%. Meanwhile, FTSE100 closed higher by 0.05%, as BP gained 6.5% after disclosing its financial results for …
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4 August 2020 8:39 pm
BoE Expected to Cut Main Rate to 0% with Negative Rates Possible
The Bank of England (BoE) is expected to reduce its key interest rate to 0% in November, as per a recent research report by the Bank of America, Bloomberg reported. The BoE plans a GBP 100 billion ($131 billion) extension to its asset purchase program until mid-2021. In addition, the …
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4 August 2020 7:38 pm
Canada’s Manufacturing PMI Surges in July
The headline seasonally adjusted IHS Markit Canada Manufacturing Purchasing Managers’ Index (PMI) registered 52.9 in July, up from 47.8 in June. This is the first time for the index to pass the 50-point mark in five months, due to the impacts of the COVID-19 pandemic. An improving customer demand as …
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4 August 2020 7:31 pm
US Factory Orders Rise by 6.2% in June
Factory orders in the United States increased by 6.2% during June, data by the US Department of Commerce showed on Tuesday. The rise in factory orders last month came in higher that initially expected, largely thanks to an 86.2% rise in motor vehicle and parts orders. In addition, transportation equipment …
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4 August 2020 7:19 pm
Venture Fund to Invest $110 M in Cryptocurrencies
Electric Capital venture fund raised $110 million from university endowments and other nonprofits to invest in cryptocurrencies, Bloomberg reported. The company has started with investing $35 million in cryptocurrencies like Bitcoin and Ethereum and blockchain projects. However, it seems the focus this time will be directed towards other crypto assets. …
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4 August 2020 6:01 pm
GBP/USD Extends Daily Slide
GBP / USD was marginally moving throughout the Asian session near 1.3080 and rose during European trading, but lost its strength after touching 1.3100 and came under intense downward pressure to reach 1.3023, recording losses of 0.37% during the day. Concerns about the second wave of Covid 19 and the …
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4 August 2020 5:31 pm
Trump Says Coronavirus Under Control, ‘It is what it is’
U.S. President Trump said Covid 19’s outbreak is under control. At least 155,000 people have died in the United States amid an incomplete response to the public health crisis. The American President continues to press for the reopening of American schools. “They are dying, that’s true,” he said. “It is …
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4 August 2020 5:10 pm
US Stocks Set to Open Lower
US equity markets should open lower on Tuesday after strong gains on Monday led by Nasdaq, which hit another record close. Dow Jones futures fell 44 points, or 0.2%, while the S&P 500 Index fell 0.3% and the Nasdaq 0.3%. Apple shares hit an all-time high on Monday, just a …
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4 August 2020 4:20 pm
EUR/JPY Daily Gains Capped Around 125.00
After briefly testing daily highs in the 125.00 area, EUR / JPY triggered a downward correction to the current 124.80 area to maintain modest gains so far. EUR / JPY reversed the weekly negative start and gained almost a full cent from Monday’s lows in the 124.00 area. Sentiment around …
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