The benchmarks S&P 500 and the Nasdaq opened at record highs on Monday after the US drug regulator approved the use of blood plasma to treat Covid-19 patients and thanks to a report that the Trump administration may speed up the process of adopting a potential vaccine. S&P rose 20.93 …
Read More »U.S. Futures Slip as Investors Eye Bank Earnings and Producer Inflation Data
U.S. stock index futures traded lower on Wednesday as investors prepared for another wave of earning…
Bitcoin Jumps as Strategy Makes $1.3 Billion Purchase, But U.S. Retail Demand Remains Weak
Bitcoin climbed sharply on Wednesday after major corporate holder Strategy announced a fresh multibi…
Dollar Holds Steady Ahead of U.S. Data as Yen Slides to 18-Month Low
The U.S. dollar steadied in European trade on Wednesday as investors awaited another round of key in…
Oil Prices Ease After Surge as Traders Weigh Iran Risks Against U.S. Stockpiles
Oil prices edged lower in Asian trading on Wednesday after the previous session’s sharp rally driven…
European Stocks Edge Higher as Greenland Talks and Geopolitics Dominate
European equity markets opened modestly higher on Wednesday, as investors remained focused on escala…
CPI Sends Mixed Signals as US Jobs Lift the Dollar and Pressure the Euro
Cooling Inflation Fails to Weaken the Dollar: The euro slipped against the US dollar as markets reac…
JPMorgan Shares Slide After Q4 Earnings Amid Apple Card Reserve and Weak Deal Fees
Shares of JPMorgan Chase & Co. fell about 4.2% in after-hours trading Tuesday to $310.90 follow…
Gold Pushes to Fresh Record Highs as CPI Data and Fed Independence Fears Fuel Demand
Gold prices climbed to new record levels during Tuesday’s trading session, driven by rising concerns…
Yen Slides as Political Uncertainty, Regional Tensions Weigh on Markets
The Japanese yen weakened sharply against the US dollar on Tuesday, falling about 0.6% to its lowest…
How Markets React to Softer CPI Reading
Global markets shifted direction after the latest Consumer Price Index (CPI) data came in slightly b…
Market Analysis
August, 2020
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24 August 2020 5:36 pm
Euro Rises on Renewed Purchases of Riskier Currencies
The single European currency has witnessed positive movements during Monday’s trading, settling above the lowest level in a week against the US dollar recorded earlier, after the US dollar’s rise slowed, in conjunction with renewed purchases of high-risk currencies. The euro is currently higher against the dollar by more than …
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24 August 2020 5:03 pm
Sterling Bouncing Above 1.3100
The British pound bounced back to trade above 1.3100 after failing to maintain stability above this level, with pressure on the US dollar and a return to activity in riskier currencies. The pound sterling is currently trading at 1.3128 levels, up about 0.3%, after it was trading below the 1.3100 …
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24 August 2020 3:24 pm
China Supports Companies Using Legal Means to Protect Rights and Interests
China said it supports companies resorting to legal means to protect their rights and interests after ByteDance said it would file a lawsuit against the administration of US President Donald Trump. Chinese Foreign Ministry spokesman Zhao Lijian told reporters in a daily briefing that the actions of US politicians involved …
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24 August 2020 2:56 pm
Dollar falling, New Zealand Lag Behind high-Risk Gains
The dollar fell in early trade in London, while riskier currencies and European stocks rose at the open, and some analysts attributed the improvement in sentiment to the United States ’approval of a treatment for Covid-19 patients. The Coronavirus has killed more than 800,000 people around the world, and the …
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24 August 2020 2:49 pm
European Stocks Higher on hopes for Coronavirus Treatment
European stocks rose from their lowest level in two weeks, as signs of progress in developing a treatment for Covid-19 disease overshadowed concerns about an increase in cases on the continent, threatening to curb an economic recovery. The European STOXX 600 index rose 1.3%, following the gains in Asian markets …
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24 August 2020 12:46 pm
Gold Dropping as Risk Appetite Increases
Gold prices fell as the appetite for risk improved after the US Drug Administration approved the use of blood plasma for people recovering from Covid-19 disease as a treatment option, while the dollar rose. With the closure of the Tokyo Stock Exchange, the spot price of gold was down 0.4% …
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24 August 2020 11:53 am
Nikkei rises, Focus on Prime Minister Abe’s Health
Japanese stocks closed higher, deriving direction from the gains of their Asian counterparts, but growing speculation over Prime Minister Shinzo Abe’s health dented the mood. The benchmark Nikkei index rose 0.28 percent to close at 22,985.51 points, while the broader Topix index rose 0.19 percent to 1,607.13 points. Trading volumes …
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24 August 2020 11:33 am
Oil Rises as Two Storms Approach Gulf of Mexico
Crude oil prices rose on Monday as two storms approached the Gulf of Mexico, cutting more than half of oil production there, and amid optimism about the Coronavirus, after the US Food and Drug Administration allowed the use of blood plasma from recovered patients as a treatment option. Brent futures …
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24 August 2020 11:22 am
Trump Adviser Kellyanne Conway to Resign
Kellyanne Conway, a senior adviser to President Trump, will leave the White house at the end of the month. Conway, whose title is counselor to the president, has resigned citing the need to focus on her family, according to The Washinton Post.
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24 August 2020 10:53 am
Coronavirus Update
The latest coronavirus (COVID-19) updates from China have been upbeat as all 16 cases on August 23 reported as imported infections. “This compared with 12 new COVID-19 cases reported a day earlier, all imported too and marked the eighth consecutive day of no locally transmitted cases. The total number of …
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24 August 2020 10:23 am
PBOC Sets Yuan Reference Rate at 6.9194
The People’s Bank of China (PBOC) has set the yuan reference rate at 6.9194 versus Friday’s fix at 6.9107.
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24 August 2020 10:23 am
New Zealand Has Extended Lockdown Till Aug 30
New Zealand’s Prime Minister Jacinda Ardern has extended the coronavirus lockdown till Aug. 30. While the city of Auckland is under alert level 3 restrictions, the rest of New Zealand remains at level 2, Ardern said, while adding that Auckland will move to level 2 after Aug. 30. New Zealand …
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