Oil prices retreated on Friday, as trading was cloudy over the global recovery in fuel demand and growing uncertainty, while cases of COVID 19 rise steadily in several countries with major producers prepared to ease production restrictions. Brent crude futures fell 11 cents, or 0.3%, to $ 43.26 a barrel …
Read More »Market weekly wrap: Government shutdown could have an end soon
Markets kicked off last week on a cautious note after President Donald Trump announced late Friday a…
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…
Market Analysis
July, 2020
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17 July 2020 11:25 am
Gualtieri: Fight Hard Not to Modify the Recovery Fund
Ahead of Friday’s European Union (EU) summit, Italian Economy Minister Roberto Gualtieri reiterated the country’s support for the new recovery fund worth 750B euros. Adding that they will try not to modify the overall amount or the breakdown between grants and loans to try and achieve that goal.As mentioned before, …
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17 July 2020 3:02 am
Williams: Emergency Lending Helped Ease Credit Markets
The President of the Federal Reserve Bank of New York, John Williams, said that the Fed’s emergency lending have helped ease credit markets disrupted by the COVID-19 pandemic, Reuters reported. “The scale and reach of the response is an indication of the gravity and unique nature of the situation we …
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17 July 2020 2:04 am
Fed’s Evans Rules Out Interest Hike
The United States Federal Reserve should not raise interest rates until inflation reaches the 2% target, President of the Federal Reserve Bank of Chicago, Charles Evans, said on Thursday, as cited by Reuters. “I am hard pressed to think of reasons why we would need to move away from accommodative …
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17 July 2020 1:56 am
Oil Prices Settle Lower by 1%
Oil prices declined on Thursday due to negative economic data, which also pushed stock markets down. The OPEC+ move to raise output, by limiting the production cuts to 7.7 million barrels per day (bpd) from August 1, which was announced yesterday, is not expected to disrupt the market, as demand …
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17 July 2020 1:34 am
Russia Expects Strong Recovery for Oil Demand
Russia is expecting a strong recovery in the global demand for oil, according to the Russian Minister of Energy, Alexander Novak, Reuters reported. The minister said on Thursday that a significant rise in August could see demand improve to 10% below the pre-COVID-19 levels. Demand was nearing 100 million barrels …
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16 July 2020 11:49 pm
Gold Settles Lower but Maintains $1,800 Level
Gold prices declined on Thursday to their lowest closing level in about a week, as the US Dollar (USD) strengthened despite the number of US jobless claims for last week exceeding market expectations. However, the yellow metal was able to maintain the $1,800 level. Gold futures for August dropped by …
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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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