Wall Street closed higher on Thursday with the Nasdaq closing at a new all-time high, supported by a decline in the US jobless claims last week and anticipating a new stimulus package to be approved by Congress. The Dow Jones Industrial Average gained 185.5 points, or 0.68%, and settled at …
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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7 August 2020 1:58 am
Oil Prices Settle Lower Over Recovery Concerns
Oil prices declined on Thursday, amid rising concerns about the prospects of economic recovery from the impacts of the COVID-19 pandemic. In addition, an increase in US natural gas inventories further pushed the worries for the recovery of the demand for energy. Brent crude futures for October delivery declined by …
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7 August 2020 1:49 am
Gold Settles Near $2,070 per Ounce
Gold prices rose on Thursday for the fifth consecutive session, amidst an increase in demand for safe havens and the US Dollar (USD) returning to losses after briefly attempting recovery. Gold futures gained $20.10 or 1.2% to settle at $2,069.40 per ounce. Markets are still anticipating a deal in the …
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6 August 2020 10:38 pm
DXY Returns to Negative Territory
The US Dollar (USD) returned to the downward trend on Thursday, after showing signs of recovery today supported by the decline in the number of jobless claims in the United States last week. The Dollar index (DXY), which measures the USD performance against a basket of six major international currencies, …
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6 August 2020 9:49 pm
Fed’s Kaplan Rules Out Negative Rates
President of the Federal Reserve Bank of Dallas, Robert Kaplan, has ruled out adopting negative interest rates in the near future, expecting strong economic growth during the second half of 2020. However, the Dallas Fed president expects rates to stay low for the foreseeable future, until progress is achieved on …
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6 August 2020 9:17 pm
Barkin Hopeful Jobless Claims Could Further Decline
President of the Federal Reserve Bank of Richmond, Thomas Barkin, has expressed his hopes that jobless claims will continue to decline. Recently, Reuters quoted Barkin as saying that the US economy faces the risk of a larger downturn than previously expected if congress does not provide the needed support through …
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6 August 2020 9:09 pm
European Stocks Close Lower
European stocks closed lower on Thursday as uncertainties persist regarding economic recovery in the continent after the Bank of England (BoE) monetary policy committee’s statement noted that “although recent developments suggest a less weak starting point for the Committee’s latest projections, it is unclear how informative they are about how …
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6 August 2020 7:23 pm
GBP Rises Following BoE Statement
The British Pound (GBP) is rising across the board after the Bank of England (BoE) has decided to maintain interest rates and keep its monetary policy unchanged. The UK central bank has also vowed to adapt its policy to the market conditions, revealing that negative rates remain a possibility. The …
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6 August 2020 6:09 pm
Saudi Arabia Announces Crude Selling Prices For September
A document obtained by Reuters appeared that the giant Saudi National Oil Company Aramco announced on Thursday the official selling prices for the month of September for its light Arab crude. Saudi Arabia set the official selling price for its Arab Light crude to Asia at a premium of $ …
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6 August 2020 5:28 pm
Gold Hits a Fresh Record High
Gold rose at the start of the American session and rose to new highs around the $ 2064-65 area in the last hour. The metal built on breach of a key psychological level of $ 2000 this week and gained some momentum to continue the third straight session on Thursday. …
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6 August 2020 5:13 pm
Bitcoin is Rising Alongside Other Cryptocurrencies
The cryptocurrency, Bitcoin, has been dropping since the beginning of Thursday’s session and trading at a drop of about 0.61%, or nearly $ 70, to reach 11,680, down from the $ 11,814 levels reached the beginning of the Asian session. It is possible that Bitcoin’s increase in price during the …
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6 August 2020 5:00 pm
1.18M Americans Applied For Unemployment Benefits Last Week
There were 1,186,000 Initial Claims for unemployment benefits in the US during the week ending August 1st, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous week’s print of 1,435,000 (revised from 1,434,000) and came in better than the market expectation …
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6 August 2020 4:49 pm
Silver to The Highest Levels in 7 Years
Silver prices are recording strong gains against the US dollar during the last hours, to test the highest levels since April 2013, with a record rise in gold, along with global tensions and the uncertainty that dominates the market. Silver traded at 12:00 GMT, up 4.55% to $ 28.22 an …
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