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Market Analysis

July, 2020

  • 29 July 2020 10:47 am

    US Dollar Near 2020 Lows

    The US dollar, measured by the US Dollar Index (DXY), resumed the downtrend on Wednesday and is approaching its lowest near 93.50. The index quickly retracted its lead on Tuesday as sellers dominated the market and sentiment surrounding the dollar. The dollar remains under intense pressure as traders maintain the …

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  • 29 July 2020 10:29 am

    Asian Stocks Mixed

    Asian stocks are struggling to get a steady direction with trading quietly ahead of Wednesday’s Fed meeting. The Nikkei came out with the news that the Japanese government’s plan to reduce the economic outlook for GDP for the year 20/21. Fitch downgraded Asian Majors’ Outlook to negative but the rating …

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  • 29 July 2020 10:00 am

    FX Option Expiries For July 29 NY Cut

    FX option expiries for July 29 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – USD/JPY: USD amounts          105.00 992m  – NZD/USD: NZD amounts 0.6650 203m0.6675 969m

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  • 29 July 2020 1:28 am

    Italy to Extend State of Emergency

    The Italian Senate approved on Tuesday a request by Italy’s Prime Minister Giuseppe Conte to extend the state of emergency until October 15, in order to maintain preventive measures against the COVID-19 crisis. The move was supported by 157 votes and opposed by 125, Reuters reported. A six-month state of …

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  • 29 July 2020 12:48 am

    US Treasury Yields at Three-Month Low

    The US Treasury yields declined on Tuesday, ahead of the Federal Reserve’s Federal Open Market Committee (FOMC) July meeting releasing its policy statement tomorrow. Although no changes in interest rates are expected, the meeting is set to reveal more details about recent developments in the US monetary policy. The 10-year …

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  • 29 July 2020 12:40 am

    NYSE Settles Lower Ahead of Fed Meeting

    The New York Stock Exchange (NYSE) settled lower on Tuesday, as concerns regarding the COVID-19 pandemic continues to curb investors’ risk appetite, reflected by the rising demand for safe havens with gold prices reaching unprecedented levels. In addition, the market is anticipating the Federal Reserve meeting, in which it is …

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  • 29 July 2020 12:05 am

    Oil Futures Close at Lowest Level in Week

    Oil prices declined on Tuesday to settle at their lowest level in a week, ahead of the release of the US inventory data by the American Petroleum Institute (API). The global benchmark Brent crude futures for September delivery declined by 19 cents or 0.4% and finished at $43.22 per barrel, …

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  • 28 July 2020 11:48 pm

    Bitcoin Trading Little Below $11,000

    After rising above the $11,000 mark earlier today, the price of Bitcoin declined by 2.4% to trade at $10,986.10. Earlier today, Bitcoin rose by $1,268 or 12.7% to trade as high as $11,203.90, reaching its highest level in six months. Meanwhile, Ethereum is down by 1.6% at $317.48. Bitcoin Cash …

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  • 28 July 2020 11:00 pm

    Gold Finishes at New Record High

    Gold prices settled higher on Tuesday after recovering from brief losses, achieving a new record high closing level for the third consecutive session. Concerns regarding the COVID-19 pandemic, as reflected by the decline in the US consumer confidence index, have spurred demand for safe havens. Gold futures for August delivery …

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  • 28 July 2020 10:31 pm

    US Fed Extends Lending Facilities Three Months

    The US Federal Reserve has extended its lending facilities due on September 30 for three months to the end of 2020. The move comes as an effort to ease pressures on business amid the COVID-19 crisis. The three-month extension will facilitate planning by potential facility participants and provide certainty that …

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  • 28 July 2020 9:15 pm

    European Stocks Settle Higher

    European stocks returned to gains and closed higher on Tuesday, supported by increased demand from investors. The STOXX Europe 600 index rose by 0.47% and closed at 367.87. Meanwhile, FTSE100 settled higher by 0.40%, while CAC40 declined by 0.22%. DAX and FTSE MIB closed lower by 0.026% and 0.6%, while …

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  • 28 July 2020 8:49 pm

    GBP/USD at Best Level in Four Months

    The British Pound (GBP) rose on Tuesday against the US Dollar (USD), to its highest level in about four months. The GBP appreciation came on the back of positive news about progress in the post-Brexit trade agreement between the UK and the EU. The GBP/USD is trading at 1.2939, up …

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  • 28 July 2020 7:12 pm

    US Consumer Confidence Slumps in July

    Consumer confidence in the United States declined during July, as shown by data released by the Conference Board on Tuesday. The Consumer Confidence Index decreased in July, after increasing in the previous month. The index reached 92.6 this month, down from 98.3 in June. In addition, the expectations index, based …

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