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Market Analysis

July, 2020

  • 28 July 2020 11:00 pm

    Gold Finishes at New Record High

    Gold prices settled higher on Tuesday after recovering from brief losses, achieving a new record high closing level for the third consecutive session. Concerns regarding the COVID-19 pandemic, as reflected by the decline in the US consumer confidence index, have spurred demand for safe havens. Gold futures for August delivery …

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  • 28 July 2020 10:31 pm

    US Fed Extends Lending Facilities Three Months

    The US Federal Reserve has extended its lending facilities due on September 30 for three months to the end of 2020. The move comes as an effort to ease pressures on business amid the COVID-19 crisis. The three-month extension will facilitate planning by potential facility participants and provide certainty that …

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  • 28 July 2020 9:15 pm

    European Stocks Settle Higher

    European stocks returned to gains and closed higher on Tuesday, supported by increased demand from investors. The STOXX Europe 600 index rose by 0.47% and closed at 367.87. Meanwhile, FTSE100 settled higher by 0.40%, while CAC40 declined by 0.22%. DAX and FTSE MIB closed lower by 0.026% and 0.6%, while …

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  • 28 July 2020 8:49 pm

    GBP/USD at Best Level in Four Months

    The British Pound (GBP) rose on Tuesday against the US Dollar (USD), to its highest level in about four months. The GBP appreciation came on the back of positive news about progress in the post-Brexit trade agreement between the UK and the EU. The GBP/USD is trading at 1.2939, up …

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  • 28 July 2020 7:12 pm

    US Consumer Confidence Slumps in July

    Consumer confidence in the United States declined during July, as shown by data released by the Conference Board on Tuesday. The Consumer Confidence Index decreased in July, after increasing in the previous month. The index reached 92.6 this month, down from 98.3 in June. In addition, the expectations index, based …

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  • 28 July 2020 1:04 am

    Daily Recap: Monday, July 27, 2020

    Gold continued its rising rally on Monday, breaking its all-time record high for the second consecutive session, amid a decline by the USD. Meanwhile, the Euro maintained its gains against the USD. As for stocks and oil prices, both rose on hopes for a new stimulus package by the US …

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  • 28 July 2020 1:00 am

    DXY to Settle Lower by 0.8%

    The Dollar Index (DXY), which measures the performance of the US Dollar (USD) against a basket of major international peers, declined on Monday, due to the rising number of COVID-19 cases in the United States. Meanwhile, the market is anticipating the Congress passing a new economic stimulus package, as well …

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  • 28 July 2020 12:42 am

    NYSE Closes Higher on Stimulus Package

    The New York Stock Exchange (NYSE) settled lower on the first session of the week, closing higher on Monday on the back of news about a new $1 trillion stimulus package to be soon approved by the US Congress. The Dow Jones Industrial Index rose by about 115 or 0.43%, …

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  • 28 July 2020 12:10 am

    Oil Futures Recovery Losses and Finish Higher

    Oil prices increased on Monday, recovering from losses earlier in the session, amid hoped for improved demand on the back of a new stimulus package, which is set to be approved by the US Congress soon. The West Texas Intermediate (WTI) futures for September delivery settled higher by 31 cents …

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  • 27 July 2020 10:49 pm

    US Treasury Yields Rise on Increased Demand

    US Treasury yields increased on Monday, with more investors showing demand for safe havens, amid an anticipation for the next Federal Reserve meeting this week, in which maintaining interest rates at their current levels is highly expected. Yields on the 10-year bonds increased by 0.010 basis points (bps), while the …

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  • 27 July 2020 10:13 pm

    European Stocks Close Lower

    European stocks settled lower on Monday, on the back of rising tensions between the US and China, as well as concerns regarding the COVID-19 pandemic, after the UK imposed a two-week quarantine on people returning from Spain, after an increase in the number of cases there. The Stoxx Europe 600 …

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  • 27 July 2020 10:06 pm

    Gold Settles at New Record Level

    Gold prices rose on Monday to a new record high, with the US Dollar continuing to decline and demand for safe havens increasing amidst worries regarding the COVID-19 pandemic. Gold futures for August settled higher by $33.50 or 1.8% to settle at $1,931 per ounce, registering its second historic highest …

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  • 27 July 2020 9:45 pm

    Euro Continues Rally on USD Woes

    The Euro rose against the US Dollar on Monday, nearing a two-year high, with the US continuing to register an increasing number of COVID-19 cases. The market anticipates a second stimulus package that could be soon approved by Congress, as well as the upcoming Federal Reserve meeting this week. Meanwhile, …

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