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Market Analysis

August, 2020

  • 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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  • 18 August 2020 1:46 pm

    European Shares Drop Amid US-Chinese Tensions and Covid-19 Cases

    European stocks fell on Tuesday, August 18, as investors feared the escalation of US-Chinese tensions and the return of Coronavirus cases, which affected shares of companies sensitive to the economic cycle. The European Stoxx600 index fell 0.5% at 07:13 GMT, as banking, energy, insurance and auto stocks fell between 0.8 …

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  • 18 August 2020 1:32 pm

    Nikkei Drops And Political Uncertainty Discourages Risk

    The Nikkei benchmark closed lower on Tuesday, August 18th, pulling away from the six-month peak it touched last week, as global political uncertainty led to risk aversion among investors. Nikkei lost 0.2% to 23,051.08 points, away from Friday’s 23,338 peak, the highest level since late February. The broader TOPIX index …

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  • 18 August 2020 1:19 pm

    Gold Futures: Room For Extra Upside

    Traders increased their open interest positions in Gold futures markets by almost 3.5K contracts at the beginning of the week, according to flash data from CME Group. Volume, in the same line, reversed three consecutive pullbacks and went up by around 57.4K contracts. Gold now targets the 2020 topsPrices of …

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  • 18 August 2020 12:30 pm

    Russia’s Novak Tests Coronavirus Positive

    Ahead of the OPEC and its allies (OPEC+) JMMC meeting scheduled on Wednesday, Russian Energy Minister Alexander Novak was tested positive for coronavirus. However, the Russian media suggested that the minister will participate in the OPEC+ meeting online, via a video link.

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