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Market Analysis

July, 2020

  • 16 July 2020 11:33 pm

    Trump to Remain on Twitter After Hack

    The President of the United States, Donald Trump, will remain on Twitter, White House spokeswoman, Kayleigh McEnany told reporters on Thursday. This comes after Bitcoin scammers hacked earlier today a number of major accounts on the social media platform, including the accounts of Bill Gates, Barack Obama, and Elon Musk, …

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  • 16 July 2020 10:11 pm

    Canada’s Payrolls Rise 1.04 M in June

    Employment in Canada increased by about 1.043 million jobs in June, compared to May, according to the June ADP Canada National Employment Report. Although jobs in manufacturing decreased by 57,000, jobs in construction increased by 171,000. Meanwhile, the largest increase was in the trade, transportation, and utilities with 347,200 new …

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  • 16 July 2020 9:53 pm

    European Stocks Settle Lower

    European stocks closed lower on Thursday after the European Central Bank (ECB) decided to maintain its main interest rates unchanged. The ECB also plans to maintain its Pandemic Emergency Purchase Program (PEPP), as the President of ECB, Christine Lagarde told reporters earlier today. The pan-European Stoxx 600 index declined by …

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  • 16 July 2020 8:20 pm

    Lagarde: EU Recovery Fund to Favor Loans

    The European Central Bank (ECB) is expecting the European Union (EU) to prefer grants over loans as a funding mechanism for its anticipated economic stimulus fund against the impacts of COVID-19, said ECB President Christine Lagarde, Reuters reported. “Our assumption is that the recovery fund will come about and will …

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  • 16 July 2020 6:35 pm

    US Jobless Claims Register 1.3 M in Week

    A total of 1.3 million people have filed for unemployment benefits in the United States last week, according to data by the US Department of Labor on Thursday. The number beats market expectations of 1.25 million applications. However, the number showed a slight decline compared to the previous week, which …

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  • 16 July 2020 6:29 pm

    US Retail Sales Up 7.5% in June

    Retail sales in the United Stated increased by 7.5% in June, beating market expectations, according to data by the US Department of Commerce on Thursday. The growth in retail sales is attributed to many businesses reopening, as restrictions against the coronavirus (COVID-19) were eased across many states. In May, retail …

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  • 16 July 2020 6:01 pm

    Cryptocurrency in a Sea of Red

    The cryptocurrency market shook profoundly and drowned in red during the European session on Thursday, and many cryptocurrencies broke through the support levels, while Bitcoin approached the psychological barrier of $ 9000. Bitcoin was at $ 9,080, down 1.3% on a daily basis since the beginning of the day. The …

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  • 16 July 2020 5:26 pm

    US: 1.3M Jobless Claims, Exceeding Estimates

    Labor Department data released on Thursday showed that the number of people making initial claims for unemployment benefits in the United States. The reading is slightly worse than the market expectation of 1.25M, but almost unchanged from last week’s reading at 1.310 million, revised from 1.314M previously reported. 4 week …

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  • 16 July 2020 4:38 pm

    ECB Leaves Key Rates Unchanged

    At its monetary policy meeting held on July 16th, the Governing Council of the European Central Bank (ECB) decided to leave the interest rates on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.50%, respectively, as …

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  • 16 July 2020 4:19 pm

    Data Releases Today

    The ECB rate decision on Thursday just came out. As expected, the central bank leaves the interest rates unchanged. Later today, we will be looking at the June retail sales report from the United States. It’s expected to post a 5.0% rise after a 17.7% rise in May.  We will …

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  • 16 July 2020 3:34 pm

    China’s GDP Rebounds in Q2

    Official data released early in the morning showed that the Chinese economy witnessed a boom in the processes of reopening the economy and expanding in the post-Covid-19 period in Q2 with the expansion of the country’s manufacturing sector. Q1 annual GDP came in at + 3.2%, exceeding analyst expectations at …

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  • 16 July 2020 2:54 pm

    IMF Chief Warns Global Economy ‘Not Out of The Woods’

    Global economic activity is picking up after an unprecedented decline this year due to the coronavirus pandemic, but a second major wave of infections could trigger more disruptions, IMF Managing Director Kristalina Georgieva said. “We are not out of the woods yet,” Georgieva said The International Monetary Fund had cut …

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  • 16 July 2020 2:09 pm

    Gold Close to Session Lows Around $1805

    The yellow metal saw modest declines on Thursday and snapped the rally in 3 days. Gold fell during the European session and reached new daily lows around $ 1805-04 in the last hour. The metal failed to take advantage of this week’s rebound from the support area of ​​1790 and optimism …

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