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Market Analysis

July, 2020

  • 2 July 2020 12:10 pm

    Asian Stocks Are Near 4-Month Highs With Hopes of COVID 19 Vaccine

    Asian stocks were sailing near 4-month highs on Thursday, as hopes doubled over a vaccine for COVID 19, while copper prices rose to a 6-month high. The entire market focus today is on US employment data, due for release later today, which will give clear cues of how the world’s …

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  • 2 July 2020 11:49 am

    European Shares Rise as COVID-19 Vaccine Approaches

    European stocks rose on Thursday, with hopes increasing for a COVID-19 vaccine and other encouraging data, all of which led to a spike in sentiment ahead of NFP data from the US. Financial markets had started the second half of the year with positive news as the global slump in …

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  • 2 July 2020 11:26 am

    The US Dollar Index is Testing 97.00 Before US Data

    The US dollar index continues to trade in defensive mode on Thursday. The index fell on data and Risk Trends on Wednesday, as sentiment improved with good news of approaching a vaccine for Covid-19 The better-than-expected US data as ISM Manufacturing rose to 52.6 for the month of June, in …

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  • 2 July 2020 11:06 am

    Russian Oil Output Falls to 9.32 mln bpd in June, Approaching OPEC+ Target

    Russian oil and gas condensate production fell to 9.32 million barrels per day (bpd) in June from 9.39 million bpd in May, near its target under a deal with the OPEC+ group, Interfax news agency reported on Thursday, citing energy ministry data. The production of oil and gas condensate per …

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  • 2 July 2020 1:59 am

    Oil Prices Settle Higher on Decline in US Inventories

    Oil prices closed higher on Wednesday, after data showed a decline in the United States crude inventories last week. Brent Crude increased by $0.76 or 1.84% to close at $42.03 per barrel, while the WTI crude futures settled higher by $0.55 or 1.4% at $39.82 a barrel. The US crude …

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  • 2 July 2020 1:50 am

    Gold Settles Lower by 0.6%

    Gold prices declined on Wednesday, giving up its highest level in about eight years, after positive economic data in the United States and news about a vaccine for the coronavirus disease (COVID-19) lowered demand for safe havens. The price of spot gold fell by around 0.6% to $1,770 per ounce, …

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  • 2 July 2020 1:27 am

    S&P 500 and Nasdaq Maintain Gains, Dow Closes Lower

    The New York Stock Exchange (NYSE) closed higher on Wednesday, with investors growing optimistic about news of a potential vaccine for the coronavirus (COVID-19). The S&P 500 index gained 0.50%, and the NASDAQ Composite Index increased by 0.95%, while the Dow Jones Industrial Average closed lower by 0.3%. A COVID-19 …

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  • 2 July 2020 12:45 am

    USD Down as Safe Haven Demand Falters

    The US Dollar (USD) declined on Wednesday against major currencies, with improved economic data in the United States and the UK has decreased the demand on the green currency as a safe haven. An increased risk appetite helped the AUD and NZD rise against the USD. The USD/JPY is now …

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  • 2 July 2020 12:25 am

    GBP Gains on USD Retreat

    The British Pound (GBP) achieved gains on Wednesday, as demand for the USD as a safe haven faded despite positive economic data in the United States. GBP is up by 0.43% against the Euro, and by 0.60% against the USD. Earlier, data showed that the UK manufacturing sector is showing …

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  • 2 July 2020 12:01 am

    Fed Meeting Minutes Show Commitment to Facing COVID-19 Recession

    Members of the US Federal Reserve Board have agreed to use all of the tools at their disposal to help push the economy out of recession, as shown by the meeting minutes of their most recent meeting, which took place on June 9-10. The US economy entered into a recession …

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  • 1 July 2020 11:27 pm

    WHO Calls for Effective Approaches in Facing COVID-19

    The World Health Organization (WHO) on Wednesday warned against ineffective approaches in combating the coronavirus disease (COVID-19). Some countries face a long, hard road ahead in the fight against the pandemic, said the WHO Director-General Tedros Adhanom Ghebreyesus, as reported by Reuters. “Countries that have the systems in place to …

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  • 1 July 2020 10:52 pm

    European Stocks Rise on COVID-19 Vaccine Hopes

    Hopes for a vaccine for the coronavirus disease (COVID-19) have helped European stocks close Wednesday higher, as the pan-European STOXX Europe 600 index gained 0.2%. In the Frankfurt Stock Exchange, the DAX30 index fell by 0.41%. In Paris and London, the French CAC40 and the FTSE100 indexes lost 0.19% each. …

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  • 1 July 2020 8:54 pm

    Wall Street Gains on Positive Data

    The New York Stock Exchange (NYSE) opened Wednesday in gains, supported by positive economic data and developments in the search for a vaccine against the coronavirus disease (COVID-19). The Wall Street indices are all green at the moment, with the Dow Jones Industrial Average Index up 0.26%, the NASDAQ Composite …

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