Gold prices closed Wednesday lower, amid a recovery of the US Dollar on the back of positive economic data coupled with the Euro and the British Pound simultaneous declines. Gold futures for December delivery declined by $34.20, or 1.7%, and settled at $1,944.70 per ounce. Meanwhile, silver futures finished lower …
Read More »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…
Euro Holds Firm as France Restores Political Calm, While UK Faces Fiscal Strain
The euro remained stable on Friday, supported by renewed political calm in France after recent tensi…
Bitcoin’s October Slump Fuels Hope for a Major Comeback
Bitcoin’s price dropped again in October, stirring memories of past downturns that often came just b…
Washington Moves to Ease Capital Rules for Small Banks in Bid to Boost Lending
U.S. regulators are preparing a proposal aimed at giving community banks more room to lend by easing…
Swiss Franc Rises as Global Trade Worries and Rate Cut Bets Pressure the US Dollar
Trade Tensions and Rate Cut Bets Push the Dollar DownThe US Dollar is facing significant downward pr…
U.S. Futures Extend Losses as Regional Bank Worries and Geopolitical Tensions Weigh
U.S. stock index futures slipped further on Friday, extending the previous session’s selloff as rene…
Oil Prices Slip as Trump–Putin Peace Talks Ease Supply Fears
Crude on Track for 3% Weekly LossOil prices extended their decline on Friday, heading toward a weekl…
Bank of Japan Signals Continued Tightening Path Amid Global Uncertainty
The Bank of Japan (BOJ) reaffirmed its cautious yet tightening stance on Friday, as Deputy Governor …
Market Analysis
September, 2020
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2 September 2020 11:22 pm
GBP/USD Declines on BoE Dovish Tone
The British Pound (GBP) is trading lower against the US Dollar (USD) on Wednesday, with the USD rising on the back of strong manufacturing data with surging PMI and factory orders. Meanwhile, the GBP is impacted by recent remarks by policy makers in front of the House of Commons Treasury …
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2 September 2020 11:14 pm
UK Economy Facing Several Risks Due to COVID-19
The British economy is facing a risk of taking several years before recovering from the impacts of the coronavirus (COVID-19) crisis, according to member of the Bank of England’s (BoE) Monetary Policy Committee, Gertjan Vlieghe. Vlieghe remarks came on Wednesday in a report presented to the British parliament, Reuters reported. …
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2 September 2020 10:45 pm
European Stocks Close Higher Despite Negative Data
European stocks closed higher on Wednesday, despite a surprise fall in retail sales in Germany, amid an improved risk appetite and investors sentiment with recent surges in Wall Street. The Stoxx Europe 600 finished higher by 1.66%, while the UK’s FTSE100 gained 1.35%. In France, the CAC40 index increased by …
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2 September 2020 8:38 pm
Dollar Extends Gains as Euro Declines
The US Dollar (USD) is showing a strong performance against major currencies on Wednesday, supported by strong economic data. The US Dollar Index (DXY), which measures the performance of the USD against a basket of six international currencies, is up by 0.50% at 92.80, after closing Tuesday at 92.34. This …
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2 September 2020 7:54 pm
Sholz: European Economy Will Recover from COVID-19
Germany’s Minister of Finance, Olaf Scholz, said on Wednesday that the European economy will recover from the impacts of the COVID-19 crisis, but might face some hardships in the near term, Reuters reported. “Europe has dealt with a historic challenge and has provided a very good response, has shown solidarity …
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2 September 2020 7:31 pm
US Factory Orders Rise More than Expected
New factory orders in the United States rose by more than expected in July, according to data by the US Department of Commerce. Factory orders increased by 6.4% in July, while a recent poll by Reuters forecast a growth of 6%. The indicator signals a strong recovery from the coronavirus …
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2 September 2020 6:15 pm
US Extends Some Tariff Exemptions to China
The Trump administration’s threat of escalation against China came this time in disguise with seemingly positive news. The office of the US Trade Representative announced the extension of the deadlines for some exemptions from customs duties on a large group of Chinese goods. But this extension is until the end …
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2 September 2020 5:33 pm
Germany Revises Upward 2020 GDP Forecast to -5.8%
The worst is over for Germany … and the government response helped it recover faster than expected from the shock of the Coronavirus … statements made by Economy Minister Peter Altmaier while presenting the updated forecasts for his country’s economy in 2020. Altmire said that the recession in the first …
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2 September 2020 5:10 pm
Russia’s Novak: Will Propose OPEC+ React to Recovery in Global Oil Demand
Russian Energy Minister Alexander Novak said that global oil demand has recovered by a large rate, up to 90% from pre-pandemic levels, adding that Moscow will propose to the OPEC+ group to take a response to this trend within the framework of the global agreement to reduce oil production. Novak …
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2 September 2020 4:34 pm
Private Payrolls Grow by 428,000
Employment in the US’ private sector rose by 428,000 in August below the market expectation of 950,000, the monthly data published by the Automatic Data Processing (ADP) Research Institue revealed on Wednesday. Big business dominated job creation, as firms with more than 500 employees added 298,000 workers. Medium-sized businesses were …
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2 September 2020 3:55 pm
GDP to Drop Over 8% in 2020-Gualtieri
Italian Economy Minister Roberto Gualtieri said that the country’s GDP will shrink by slightly more than 8%, stressing that production in Q3 will record a “strong recovery.” The Office for National Statistics said last week that the economy witnessed a record contraction of 12.8% in Q2 compared to the previous …
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2 September 2020 3:33 pm
Dollar Extends Gains After Manufacturing Data
The dollar extended gains made last night after positive US manufacturing data, while the Australian dollar took a hit when gross domestic product data on Wednesday confirmed that the country was experiencing a recession for the first time in three decades. Manufacturing activity in the US increased more than expected …
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