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Market Analysis

August, 2020

  • 4 August 2020 1:12 pm

    ECB’s Lane: Committed to Providing Stimulus Needed

    The European Central Bank (ECB) is committed to providing the support needed to boost the economic recovery, said Chief Economist Philip Lane on Tuesday. “There is some rebound in economic activity.” “But level of economic slack remains extraordinarily high.” “The outlook remains highly uncertain.” “Inflation outlook plays a central role …

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  • 4 August 2020 12:13 pm

    Europe Stocks Fall Due to Weak Results

    European stocks fell on Tuesday after weak results from and Bayer took the shine off a jump in growth-linked cyclical stocks, while investors await signs of progress regarding a new US fiscal stimulus. Diaggio, the world’s largest wine producer, fell 5.9% after it announced a larger-than-expected drop in core net …

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  • 4 August 2020 11:55 am

    Australia: Retail Sales Better Than Expected

    Data released by the Australian Bureau of Statistics this morning showed that the retail sales index posted better-than-market expectations, rising by 2.7% in June compared to expectations for 2.4%. This indicator is a measure of consumer spending, which represents the majority of economic activity in general and affects the stock …

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  • 4 August 2020 11:48 am

    IFO: Signs of Recovery in The Automotive Industry

    In a survey conducted by the German IFO Institute this morning about the auto industry in Germany, the results of the survey showed signs of recovery soon. However, expectations are still below 50. This comes after the latest data of Eurozone, which indicated the improvement of the manufacturing sector in …

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  • 4 August 2020 11:38 am

    Australia: Trade Surplus Fell Short of Expectations

    Data released by the Australian Bureau of Statistics this morning showed that the trade balance in Australia recorded a surplus below expectations, as the surplus during June reached AUD8.20 billion, below the expected AUD8.80 billion. Remains better than May’s at AUD8.03 billion and revised to AUD7.34 billion. The trade balance …

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  • 4 August 2020 11:29 am

    Gold Futures Fell During The Asian Session

    According to the COMEX of New York, gold futures for October traded at $ 1978.15/oz, down 0.17%. It was previously traded lower at $ 1977.05/oz. Gold may find support at $ 1941.70 and resistance at $ 1997.00. The dollar index, which measures the performance of the greenback versus a basket …

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  • 4 August 2020 10:34 am

    FX Option Expiries For Aug 4 NY Cut

    FX option expiries for Aug 4 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1650 1.8bn1.1725 769m1.1750 827m – USD/JPY: USD amounts          105.75 401m106.00 521m106.07 444m – USD/CAD: USD amounts         1.3330 1.4bn1.3450 738m

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  • 3 August 2020 11:58 pm

    Oil Adds Nearly 2% on Industrial Data

    Oil prices surged on Monday, supported by positive manufacturing and industrial data across the United States, Europe, and Asia. Brent crude futures rose by 63 cents or 1.5% to settle at $44.15 per barrel. Meanwhile, the U.S. benchmark West Texas Intermediate (WTI) crude futures rose by 74 cents or 1.8% …

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  • 3 August 2020 11:29 pm

    USD Sees Strong Gains on Economic Data

    The U.S. Dollar Index (DXY), which measures the performance of the USD against a basket of six major currencies, registered strong gains on Monday. The gains of the USD came on the back of positive economic data that reflects an improvement in the American manufacturing sector and the US economy …

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  • 3 August 2020 11:12 pm

    Gold Narrows Gains Due to Higher USD

    Gold prices rose on Monday, with increased demand for safe havens helping the yellow metal make its way to a new record high. Gold futures for December delivery rose by 0.3% to $1,992.10 per ounce, after trading as high as $2,009.50 per ounce. A strong performance by the US Dollar, …

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  • 3 August 2020 10:46 pm

    US Manufacturing PMI Signals First Growth since February

    July saw an improvement in operating conditions of the manufacturing sector in the United States, the first since February due to the COVID-19 outbreak. Although growth was marginal, it stemmed from the first upturns in output and new orders for five months, as client demand picked up. The seasonally adjusted …

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  • 3 August 2020 10:30 pm

    How the BoE Finance Sector is Coping with COVID-19?

    The Bank of England (BoE) recently said that both the central bank and the government must provide more incentives for insurance companies, as well as investment and pension funds to invest in companies that are recovering from negative effects of the COVID-19 crisis. The aim is to encourage finance for …

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  • 3 August 2020 8:30 pm

    US Manufacturing Activity Maintains Expansion in July

    Manufacturing activity in the United States expanded during July, as shown by the Institute for Supply Management’s (ISM) data on Monday. The ISM industrial activity index registered 54.2 in July, compared with 52.6 in June. This is the best reading for the index since March 2019.

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