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Market Analysis

July, 2020

  • 24 July 2020 2:09 am

    Daily Recap: Thursday, July 23, 2020

    The US Dollar continued its downward performance against major rivals, with the DXY index currently down by 0.20% for the day at 94.80. Meanwhile, gold prices are on track to break the record for its highest level on record, while oil futures remain impacted by the increase in crude inventories …

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  • 24 July 2020 1:41 am

    Trump: Many Schools Could Reopen

    President of the United States, Donald Trump, announced in a press briefing on Thursday that many schools across the US are ready to open again after months of closure as a preventive measure against the coronavirus disease (COVID-19). “Given these considerations, we believe many school districts can now reopen safely, …

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  • 24 July 2020 1:02 am

    NYSE Ends Thursday in Red

    The New York Stock Exchange (NYSE) settled lower on Thursday on the back of losses by tech shares and investors’ sentiment being negatively impacted by the recent unemployment data, with another surge in US jobless claims. The Dow Jones Industrial Average Index closed at 26,652.33, falling by 353.51 points or …

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  • 24 July 2020 12:22 am

    Question Marks about UK Trade Talks with EU, US

    Talks for a trade agreement between the United Kingdom (UK) and the European Union (EU) in the post-Brexit era are reportedly stalling or showing little progress. The two sides need to agree on fundamental principles first before negotiations can move forward. “We only have a few weeks left, and we …

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  • 23 July 2020 11:56 pm

    Oil Settles Lower by 2%

    Oil prices declined on Thursday after recent data showed a surprise buildup in the US crude oil inventories, as well as natural gas supplies, prompting worries about the demand recovery as the number of COVID-19 cases increase. The US benchmark, West Texas Intermediate (WTI), crude futures for September delivery declined …

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  • 23 July 2020 10:44 pm

    Gold Settles near Highest Level in History

    Gold prices continued the upward performance on Thursday and settled higher on the back of increased demand for safe havens. The yellow metal gains were also supported by a weak performance by the US Dollar across the board. After trading as high as $1,897.7 per ounce, gold futures for August …

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  • 23 July 2020 10:07 pm

    European Stocks Mixed at Close

    European stocks closed Thursday after showing mixed performance across the old continent’s markets, pushed downwards by tensions between Washington and Beijing and the worse than expected unemployment data in the US. On the other hand, positive financial results by some listed companies gave support to the stock market. The pan-European …

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  • 23 July 2020 9:11 pm

    US Regulator Allows Cryptocurrency Banking Services

    The Office of the Comptroller of the Currency (OCC), an independent bureau within the United States Department of the Treasury, approved that banks could provide custody services for cryptocurrencies, Reuters reported. Providing custody and safekeeping services for cryptocurrencies is now considered a modern version of banking services. Such services include …

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  • 23 July 2020 8:57 pm

    EUR/USD Unfazed by Consumer Confidence Data

    The Euro’s (EUR) rally against the US Dollar (USD) was not affected by the worsening consumer confidence indicator for the Eurozone, considering that data by the European Commission suggested that the index remained stable despite a 0.3% decline. The EUR/USD is trading at ‪1.16193, up by 0.40% for the day. …

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  • 23 July 2020 8:26 pm

    We Could Be Seeing More EUR Gains Soon

    The Euro is now supported by the European Union’s (EU) recent agreement for a recovery fund to help the bloc’s economy combat the downturn caused by the coronavirus disease (COVID-19) crisis. Approving the recovery fund spurred demand for European assets and extended the Euro’s rally, and now, market analysts are …

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  • 23 July 2020 7:58 pm

    US Natural Gas Supplies Rise 37 BCF

    The United States domestic supplies of natural gas increased by 37 billion cubic feet (bcf) last week, according to data released by the Energy Information Administration (EIA). The increase exceeded analysts’ expectations of a 33 billion cubic feet (bcf) increase.

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  • 23 July 2020 7:17 pm

    European Consumer Confidence Further Declines in June

    Data by the European Commission’s Directorate-General for Economic and Financial Affairs (DG ECFIN) showed that the consumer confidence indicator for the Eurozone declined in June by 0.3 points to -15. On the European Union’s (EU) level, the consumer confidence indicator remained unchanged at -15.6. Both indicators remain well below their …

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  • 23 July 2020 6:04 pm

    Bitcoin Struggling And Ethereum outperforming

    Bitcoin is struggling to stay above $ 9,500 with bullish momentum fading and the technical picture indicates that the price may fall to 9400 before resuming the rally. Interest in bitcoin reached its lowest level since December 2019 amid fluctuations and low trading volumes. Bitcoin dominance index fell to 61.5% …

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