The British Pound (GBP) rose against the U.S. Dollar (USD) on Tuesday, supported by the decline of the latter, amid anticipation for the progress of trade talks between the United Kingdom (UK) and the European Union (EU). The GBP/USD is trading at 1.3242, up by 1.07% for the day, after …
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
August, 2020
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18 August 2020 11:59 pm
Gold Prices Restore $2,000 per Ounce Level
Gold prices closed higher on Tuesday, maintaining its rising trend amid a decline by the U.S. Dollar. Gold futures for December delivery settled higher by $14.40 or 0.7% at $2,012.10 per ounce, restoring the $2,000 level. This comes after the yellow metal opened the week with its best daily gains …
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18 August 2020 8:48 pm
European Stocks Finish Lower
European stocks closed lower on Tuesday, after rising earlier in the session, mainly due to losses by banks and energy shares. The Stoxx Europe 600 index settled lower by 0.66% or 2.45 points at 366.81. Meanwhile, FTSE100 lost 0.83%, while CAC40 finished lower by 0.68%. DAX closed lower by 0.30%, …
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18 August 2020 8:13 pm
NZD Rises Following GDT Price Declines
The New Zealand Global Dairy Trade (GDT) price index declined by 1.7% on Tuesday. Meanwhile, the Whole Milk Powder price index decreased by 2.2%. The New Zealand Dollar (NZD) extended its gains against the U.S. Dollar (USD) following the data, with the Kiwi now up by 0.49% against the USD …
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18 August 2020 7:43 pm
USD Declines to More than Two-Year Low
The U.S. Dollar (USD) is maintaining its downward trend on Monday, despite an increase in housing starts. Recent data suggests that the real estate sector in the United States is recovering amid a decline in interest rates. The Dollar index (DXY), which measures the USD performance against a basket of …
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18 August 2020 7:31 pm
AUD/USD Rises Following RBA Meeting Minutes
The Australian Dollar (AUD) is showing a strong performance, following the release of the latest Reserve Bank of Australia (RBA) meeting minutes. During the meeting, RBA board members noted that the COVID-19 downturn had not been as severe as earlier expected and a recovery was under way in most of …
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18 August 2020 7:21 pm
U.S. Housing Starts Rise More than Expected
Home construction starts in the United States grew in July, data showed on Tuesday. Residential unit starts increased by 22.6% to 1.5 million. Meanwhile, building applications rose by 18.8%.
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18 August 2020 5:50 pm
Canada Finance Minister Resigns Amid Friction With Trudeau
Canadian Finance Minister Bill Morneau announced his resignation saying in a press conference that Canada is moving to the next stage of the struggle against the Coronavirus pandemic, and this currency may take many years in order to achieve economic recovery, and it is the right time now for a …
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18 August 2020 5:22 pm
China Strongly Rejects US Measures Against Huawei
China said it rejected the US crackdown on Huawei after the administration of US President Donald Trump announced it would tighten restrictions imposed on the company. During his daily press testimony, Chinese Foreign Ministry spokesman Zhao Lijian urged the United States to stop undermining confidence in Chinese companies. Zhao said …
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18 August 2020 5:19 pm
Japanese Manufacturers’ Confidence Improved Slightly
A Reuters Tankan survey of business confidence on Tuesday showed that Japanese manufacturers were less pessimistic in August than they had been in at least four months, but indicated only a slow recovery from the coronavirus pandemic. This highlights the mammoth task that policymakers face to pull the economy out …
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18 August 2020 3:24 pm
Gold jumps 1% Surpassing $ 2,000
Gold prices rose 1% to surpass the $ 2,000 mark on Tuesday, August 18, in light of the decline of the US currency to its lowest level in more than two years, and dealers ’focus on the minutes of the latest meeting of the US Federal Reserve scheduled for release …
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18 August 2020 3:09 pm
US Dollar Near Its Lowest Level in Two Years
The US dollar fell against a basket of major currencies for the fifth consecutive trading session Tuesday, August 18th, approaching its lowest level in two years under pressure from low bond yields and gloomy economic data in the US. The dollar has registered gains over the years, but the Coronavirus …
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18 August 2020 2:42 pm
Oil Retreating After gains Due to Production Cuts
Oil prices maintained most of last night’s gains, Tuesday, August 18, after the OPEC + group said that members had almost fully committed to the agreed production cuts to support prices amid a decline in fuel demand due to the Coronavirus pandemic. By 07:02 GMT, Brent crude was down 18 …
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