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Market Analysis

July, 2020

  • 21 July 2020 9:34 pm

    Silver Futures at Highest Level Since 2014

    Silver prices rose on Tuesday to their highest level since 2014, increasing by more than 80% from its lowest registered earlier this year. Increased demand on safe havens is helping the white metal maintain a rising streak, coping with the recent surges in gold prices. Silver futures advanced by roughly …

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  • 21 July 2020 8:37 pm

    Oil Prices Gain 3% on European Recovery Deal

    Oil prices surged by more than 3% on Tuesday, reaching its highest level in more than four months. This comes as the recently announced agreement between the European Union (EU) leaders on the EUR 750 million recovery fund renewed hopes for a strong economic recovery, coupled with positive reports about …

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  • 21 July 2020 7:22 pm

    US Treasury Yields Slightly Edge Down

    US Treasury yields slightly declined on Tuesday as the market remains impacted by the increasing number of COVID-19 cases. Returns on the two-year notes declined by 0.4 basis points to 0.1452% Meanwhile, the benchmark 10-year yield retreated by 1.5 basis points to 0.6053%, according to Reuters. Yields on the decreased …

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  • 21 July 2020 7:03 pm

    ECB: COVID-19 Wave in US to Impact Eurozone

    A second wave of the coronavirus disease (COVID-19) in countries such as the United States could negatively impact European economic growth, Vice President of the European Central Bank (ECB), Luis de Guindos, has warned. The Eurozone economy contraction was better than previously expected during the second quarter (Q2) of 2020. …

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  • 21 July 2020 5:48 pm

    US Stocks Open Higher

    US stock markets opened higher on Tuesday as the Nasdaq Composite Index reached an all-time high with policymakers prepares proposals for a fifth stimulus package. The Nasdaq rose 48 points, or 0.5%, at 10813, while the Dow Jones rose 208 points, or 0.8%, to 26,889, and the S&P 500 rose …

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  • 21 July 2020 5:33 pm

    Canada: Retail Sales Rise by 18.7% in May vs. 20% Expected

    Monthly data released by Statistics Canada on Tuesday revealed that Canada’s retail sales rose 18.7% in May to $ 41.8 billion.This reading came after a 19.1% increase in May’s advanced estimates, and slightly worse than the 20% market forecast.

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  • 21 July 2020 4:47 pm

    GBP/USD Keep Gains Near Weeks High

    The GBP/USD rose for the third straight session on Tuesday as the USD continued to sell on the optimism about Covid-19 vaccine and the European Recovery Fund agreement, which weakens the US dollar as a safe haven. GBP/USD jumped to more than 1.2700 levels, six-week highs, but then retreated somewhat. …

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  • 21 July 2020 3:58 pm

    China’s Xi: China’s Economic Recovery Leads The World

    “China’s economic recovery leads the world, we will strive to make up economic losses caused by coronavirus epidemic,” Chinese President Xi Jinping told the state television on Tuesday, as reported by Reuters. “We will strive to achieve good results for economic growth this year,” Xi added and noted that they …

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  • 21 July 2020 3:19 pm

    China Accuses UK of Violating International Law

    The Chinese Foreign Ministry again criticized the UK’s decision to suspend the extradition treaty in Hong Kong, in the latest escalation of tensions between China and Britain. The Chinese Foreign Ministry said that Britain’s actions violated international law and international standards. China on Tuesday reiterated its strong opposition to the …

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  • 21 July 2020 2:53 pm

    Oil Rises Amid Hopes of Vaccine and Deal

    Oil prices rose on Tuesday, supported by positive news about the trials of the Covid-19 vaccine and the recovery fund agreement reached by European Union leaders, but gains were limited by fear of new lockdowns that may be a barrier to the recovery of demand for oil. Brent crude futures …

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  • 21 July 2020 1:02 pm

    Gold at Years High

    Gold continued its rise for the third consecutive session on Tuesday and rose to new highs for several years around $ 1823-24 area during the last hour. Additional stimulus plans from the US and the Eurozone were one of the main factors that lifted demand for the precious metal as …

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  • 21 July 2020 12:16 pm

    EU Reaches ‘Historic’ Deal on Pandemic Recovery

    European Union leaders reached a “historic” deal on a massive stimulus plan for the bloc’s economy, which is stagnating by the Covid-19. They reached the historic deal in the early hours of Tuesday after five days of negotiations. The agreement paves the way for the European Commission, the EU’s executive, …

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  • 21 July 2020 11:23 am

    UK Borrowing Hits Record in 3 Months

    British government borrowing rose to a record of 127.9 billion pounds ($ 162 billion) in the first three months of the fiscal year 21/2120, more than twice the entire year previously, with strict Coved 19 closures. Borrowing in June, excluding state-owned banks, reached 35.5 billion pounds, five times higher than …

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