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Market Analysis

August, 2020

  • 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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  • 4 August 2020 3:14 pm

    Euro Resumes its Gains

    The Euro rose in Europe on Tuesday against a basket of global currencies, to resume its gains after two days of losses against the US dollar, again approaching the highest level in 26 months, taking advantage of the decline in USD. The Euro rose against the dollar by 0.4% to …

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  • 4 August 2020 2:26 pm

    Gold Steady, Tensions Dominate

    Gold prices are witnessing stability on Tuesday near the levels of $ 1975 an ounce, after setting a new record yesterday at $ 1984.88 an ounce, while tensions between the United States and China continue alongside the statements issued by US President Trump. The US President accused the Tik Tok …

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  • 4 August 2020 1:12 pm

    ECB’s Lane: Committed to Providing Stimulus Needed

    The European Central Bank (ECB) is committed to providing the support needed to boost the economic recovery, said Chief Economist Philip Lane on Tuesday. “There is some rebound in economic activity.” “But level of economic slack remains extraordinarily high.” “The outlook remains highly uncertain.” “Inflation outlook plays a central role …

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  • 4 August 2020 12:13 pm

    Europe Stocks Fall Due to Weak Results

    European stocks fell on Tuesday after weak results from and Bayer took the shine off a jump in growth-linked cyclical stocks, while investors await signs of progress regarding a new US fiscal stimulus. Diaggio, the world’s largest wine producer, fell 5.9% after it announced a larger-than-expected drop in core net …

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  • 4 August 2020 11:55 am

    Australia: Retail Sales Better Than Expected

    Data released by the Australian Bureau of Statistics this morning showed that the retail sales index posted better-than-market expectations, rising by 2.7% in June compared to expectations for 2.4%. This indicator is a measure of consumer spending, which represents the majority of economic activity in general and affects the stock …

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  • 4 August 2020 11:48 am

    IFO: Signs of Recovery in The Automotive Industry

    In a survey conducted by the German IFO Institute this morning about the auto industry in Germany, the results of the survey showed signs of recovery soon. However, expectations are still below 50. This comes after the latest data of Eurozone, which indicated the improvement of the manufacturing sector in …

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  • 4 August 2020 11:38 am

    Australia: Trade Surplus Fell Short of Expectations

    Data released by the Australian Bureau of Statistics this morning showed that the trade balance in Australia recorded a surplus below expectations, as the surplus during June reached AUD8.20 billion, below the expected AUD8.80 billion. Remains better than May’s at AUD8.03 billion and revised to AUD7.34 billion. The trade balance …

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  • 4 August 2020 11:29 am

    Gold Futures Fell During The Asian Session

    According to the COMEX of New York, gold futures for October traded at $ 1978.15/oz, down 0.17%. It was previously traded lower at $ 1977.05/oz. Gold may find support at $ 1941.70 and resistance at $ 1997.00. The dollar index, which measures the performance of the greenback versus a basket …

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  • 4 August 2020 10:34 am

    FX Option Expiries For Aug 4 NY Cut

    FX option expiries for Aug 4 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1650 1.8bn1.1725 769m1.1750 827m – USD/JPY: USD amounts          105.75 401m106.00 521m106.07 444m – USD/CAD: USD amounts         1.3330 1.4bn1.3450 738m

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