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Market Analysis

July, 2020

  • 21 July 2020 10:39 am

    Europe Stocks Higher On Recovery Deal

    European stock markets are set to open higher on Tuesday, supported headlines that the EU leaders have agreed on a massive stimulus plan to revive the economies damaged by the pandemic. DAX futures contract traded 1% higher, FTSE 100 futures contract in the rose 0.7%, while CAC 40 futures rose …

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  • 21 July 2020 3:56 am

    Daily Recap: Monday, July 20, 2020

    Forex: EUR/USD Maintains Upward TrendFX Option Expiries for July 20 NY Cut Cryptocurruncies: Bitcoin: Fails to Live up Commodities: Oil Futures Close HigherGold Prices Settle Higher and Silver Maintains GainsSilver Surges to Highest Level in Four YearsGold Rises on Increased Covid-19 Cases Stocks: Wall Street Closes Higher and Nasdaq Breaks …

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  • 21 July 2020 3:47 am

    EU Leaders Nearing Agreement on Recovery Fund

    Leaders of the European Union (EU) are set to reach an agreement about the COVID-19 recovery fund, which will help member countries cope with the coronavirus pandemic economic impacts. President of the EU Council, Charles Michel, was cited by Reuters earlier today as saying that he is confident of the …

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  • 21 July 2020 1:35 am

    EUR/USD Maintains Upward Trend

    The Euro (EUR) rose against the US Dollar (USD) on Monday, supported by positive reports about COVID-19 vaccine trials and news that European leaders are nearing an agreement about a EUR 750 million recovery fund. The EUR/USD is currently trading at 1.14428, up by 0.15% for the day. Earlier today, …

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  • 21 July 2020 12:38 am

    Wall Street Settle Higher and Nasdaq Breaks New Record

    Wall Street saw another record-breaking day on Monday, as all the New York Stock Exchange (NYSE) indices settled higher with the Nasdaq reaching a new all-time high. The Dow Industrial Average Index closed marginally higher by 8.9 points or 0.03% at 26,680.87. S&P 500 increased by 0.84% to settle at …

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  • 20 July 2020 11:50 pm

    Oil Futures Settle Higher

    Oil prices settled higher on Monday with markets showing recovery signs despite the increasing number of COVID-19 cases. A recent report by the US Energy Information Administration (EIA) expected the global demand for crude oil to recover by August 2021 and restore its pre-crisis levels. The US benchmark crude oil, …

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  • 20 July 2020 11:23 pm

    Gold Prices Settle Higher and Silver Maintains Gains

    Gold prices settled higher on Monday, with the trading week beginning with an increased demand for safe havens as the number of COVID-19 cases continue to increase in the US and the world. Gold futures for August delivery increased by 0.4% and settled at $1,817.40 per ounce. Meanwhile, silver futures …

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  • 20 July 2020 10:42 pm

    European Stocks Settle Higher

    The European stocks rose on Monday, supported by positive reports about COVID-19 vaccine trials, with the market anticipating the European Union (EU) talks about an economic stimulus package with a total size of EUR 750 million. The pan-European STOXX Europe 600 index gained 0.74% to settle at 375.45. French index …

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  • 20 July 2020 9:34 pm

    Silver Surges to Highest Level in Four Years

    Silver prices rose to their level in roughly four years, after exceeding the $20 per ounce mark for the first time since September 2016. Rising demand on safe have, which has been driving recent increase in gold prices has also led to the appreciation of the white metal prices. Silver …

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  • 20 July 2020 9:11 pm

    Tenreyro: Lower Rates Won’t Raise Spending

    Silvana Tenreyro, member of the Bank of England’s (BoE) Monetary Policy Committee (MPC) has ruled out lowering interest rates soon, saying that lower rates will not necessarily lead to increased consumer spending. Tenreyro said that there remains significant uncertainty about the economy’s outlook. In her remarks earlier today, the MPC …

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  • 20 July 2020 8:05 pm

    Haldane: BoE Considers Quantitative Easing

    The Bank of England (BoE) could consider lowering the cost of borrowing, the bank’s Chief Economist, Andy Haldane, said on Monday. The move could come as a way of adapting to a possible economic shock due to the COVID-19 crisis. “Roughly half of the roughly 25% fall in activity during …

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  • 20 July 2020 7:17 pm

    NYSE Mixed at Early Trade

    The New York Stock Exchange (NYSE) opened Monday’s trading with a mixed performance, with fears regarding the rising number of COVID-19 cases in the United States continuing to impact the market. The Dow Jones Industrial Average is currently down by 0.25%, while the S&P 500 is up by 0.27%. Meanwhile, …

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  • 20 July 2020 6:04 pm

    Bitcoin: Fails to Live up

    Bitcoin resumed its decline during European hours to test $ 9,133 while the crucial support at $ 9000 remains intact. At the time of writing, Bitcoin was trading at $ 9155, however, if it continues to gain bearish momentum it may retest the mentioned support area during American hours. Loose …

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