In its latest World Economic Outlook report, the International Monetary Fund noted that it forecasts the global economy to contract by 4.4% in June, compared to 5.2% contraction in June’s publication, as reported by Reuters. “IMF forecasts 2021 global growth at 5.2% vs 5.4% in June, forecasts use revised purchasing …
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
-
13 October 2020 4:57 pm
Monthly OPEC Report: Reducing Growth Forecast by 200,000
The OPEC monthly report showed that the global economic growth forecast was kept at -4.1%, while the global economic growth forecast was reduced to 4.6% in 2021. The report expected a decline in global demand for oil by 9.5 million barrels per day in 2020, while the report reduced demand …
Read More » -
13 October 2020 4:14 pm
China’s Auto Sales Post a Jump in September
Car sales in China recorded growth for the sixth consecutive month in September, increasing by 12.8% as the world’s largest car market recovered from low levels recorded in light of the isolation measures related to the Corona virus. September and October are usually considered a peak sales period in the …
Read More » -
13 October 2020 3:30 pm
Unemployment in Britain Rises at 4.5% in October
The unemployment rate in the United Kingdom witness an increase in October by more than analysts’ expectations, and data issued by the British National Statistics Office on Tuesday showed that the unemployment rate came at 4.5% during the month of October, compared with 1.4% the previous month’s reading. Analysts had …
Read More » -
13 October 2020 2:31 pm
German ZEW Economic Sentiment Slumps to 56.1 in October
The German ZEW headline numbers for October showed that the Economic Sentiment Index came in at 56.1 versus 73.0 expectations and 77.4 last. While the sub-index Current Conditions figure arrived at -59.5 in Oct versus -60.0 expected and -66.2 booked previously. Meanwhile, the Eurozone ZEW Economic Sentiment for Oct stood …
Read More » -
13 October 2020 1:44 pm
Gold Falls as US Dollar Recovers And Investors Await The US Stimulus
Gold fell on Tuesday with the recovery of the dollar, but the price of the precious metal may receive future support from an American stimulus package that increases its attractiveness as a hedge against the resulting inflation. Gold fell in the spot market 0.3% to 1917.16 dollars an ounce, and …
Read More » -
13 October 2020 12:53 pm
Oil Prices Are Rising Due to The Return of Supplies
Oil prices rose on Tuesday, after suffering losses of nearly 3% in the previous session, with the resumption of supplies in Norway and the Gulf of Mexico in the United States and Libya, while the International Energy Agency expected a decrease in global energy demand by 5% this year. US …
Read More » -
13 October 2020 12:51 pm
US Dollar Rising And Yuan is Falling, After China Watches The Currency’s Rise
The dollar rose from its lowest level in three weeks on Tuesday, as traders in the market returned to buying it, especially against the counterpart currencies of higher risk, after it appeared that the Chinese authorities are seeking to curb the gains in the yuan that recorded recently. The Australian …
Read More » -
13 October 2020 12:34 pm
Chinese Exports And Imports Reach Record Levels in September
China’s exports in September rose by 9.9% year-on-year, in line with expectations, and imports grew at the fastest pace for this year, at 13.2% in the same period, well above expectations of a 0.3% rise. China’s exports rose by 10.2% in Q3 to $ 742.9 billion.
Read More » -
13 October 2020 1:56 am
Wall Street Closes on Large Gains
Wall Street finished Monday in gains, for the fourth consecutive session, amid anticipation for earnings reports by some of listed companies. The Dow Jones Industrial Average closed higher by 250.62 points, or 0.9%, at 28,837.52 points The S&P 500 increased by 57.09 points, or 1.6%, and ended at the level …
Read More » -
13 October 2020 1:26 am
Oil Prices Decline as End of Norway Strike Looms
Oil prices declined on Monday as news circulated that a large strike in Norway will be ended and no longer affecting crude production capacities, however, losses were limited due to output disruptions resulting from Hurricane Delta. Brent crude futures for December delivery decreased by 49 cents, or 1.1%, to finish …
Read More » -
13 October 2020 1:09 am
Gold Opens Week with Gains
Gold prices rose on Monday amid increased demand for safe havens, as a new stimulus package in the United States remains uncertain ahead of the next elections. Gold futures for December delivery added $2.70, or 0.1%, and closed at $1,928.90 per ounce. Meanwhile, Silver futures for December delivery rose by …
Read More » -
12 October 2020 8:24 pm
European Stocks Finish Higher
European stocks rose on Monday, opening the week with a positive performance that copied that of Asian markets earlier today. Hopes for a stimulus package in the United States supported risk appetite. The pan-European STOXX 600 index rose by 0.77% to close at 373.19 points. The French CAC40 index rose …
Read More »