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Market Analysis

July, 2020

  • 3 July 2020 10:19 am

    Asian Shares Hit Four-Month High

    Asian stocks rose to a four-month high on Friday in reaction to the report of strong payroll report (NFP) and growth in Chinese service activity, but the rise of Covid 19 cases in US has put limits on more risk appetite. China’s service sector activity expanded at its fastest pace …

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  • 3 July 2020 1:01 am

    NYSE Records Strong Weekly Gains

    The New York Stock Exchange (NYSE) closed the week on high gains before a three-day weekend, with investors growing optimistic about a potential vaccine for the coronavirus (COVID-19). The Dow Jones Industrial Average closed higher by 0.36% to 25,827.36, while S&P 500 gained 0.45% to settle at 3,130, and the …

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  • 3 July 2020 12:37 am

    Oil Settles With Gains Above 2%

    Oil prices increased on Thursday, maintaining support from a decline in the US crude inventories. In addition, positive economic showed signs of a recovery despite a record surge in coronavirus disease (COVID-19) cases in the United States. Brent crude futures closed up by 2.6% or $1.11 at 43.14 per barrel, …

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  • 2 July 2020 11:05 pm

    Gold Settles Higher on Thursday

    Gold prices increased on Thursday with the rising number of cases with the coronavirus disease (COVID-19) pushing demand for safe havens, despite news of successful attempts at developing an effective vaccine and signs of economic recovery. Gold futures for August delivery increased by $10.10, or 0.6%, and closed at $1,790 …

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  • 2 July 2020 10:39 pm

    European Stocks Close Thursday near Month-High

    European stocks closed Thursday higher, supported by positive sentiments regarding economic recovery as markets across the continent continue to reopen and data from the US showing a surge in new jobs during June. The pan-European STOXX Europe 600 increased by 1.89% to settle at 368.03 points, its highest closing level …

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  • 2 July 2020 10:01 pm

    Leading Cryptocurrencies Trading Lower on Thursday

    The top cryptocurrencies showed a decline over the past 24 hours, despite an improved risk appetite across most global markets. Bitcoin is currently trading at $9,110, down by 1.81%, while Bitcoin Cash is down by 2.32% at $220.72. Ethereum decreased by 1.88%, trading at $227.36. Tether and XRP are down …

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  • 2 July 2020 8:46 pm

    Wall Street Opens Thursday in Green

    The New York Stock Exchange (NYSE) opened higher on Thursday, supported by positive economic data, with the Nasdaq reaching a new record high. The Dow Jones Industrial Index is now up by 0.84% at 25,952 points, the S&P 500 index is up by 0.89 at 3,143.6 points, while the Nasdaq …

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  • 2 July 2020 8:22 pm

    Germany Calls EU Members for COVID-19 Recovery Fund

    German Chancellor Angela Merkel said that members of the European Union (EU) must agree on a deal to help fund the recovery of the bloc’s economies from the effects of the coronavirus disease (COVID-19) pandemic. A deal must be reached before the end of summer, Merkel stressed in her remarks …

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  • 2 July 2020 7:54 pm

    Brazil’s Industrial Production Posts Record Rise

    Industrial production in Brazil increased by 7% during May, recording its biggest rise on record. This comes as economic activity in Brazil resumed after two months of lockdown due to the spread of the coronavirus disease (COVID-19). On an annual basis, industrial production decreased in Brazil by 21.9%.

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  • 2 July 2020 7:15 pm

    New US Factory Orders Up 8% in May

    New factory orders in the United States increased during May on a monthly basis by 8%, according to data by the US Commerce Department. This shows a sign of recovery, after orders for US-manufactured goods decreased by 13.5% in April, despite coming below the market expectations consensus of an 8.9% …

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  • 2 July 2020 6:36 pm

    Trump: US Economy is Roaring Back

    The President of the United States, Donald Trump, said that the most recent job data proves that the US economy is roaring back. The US Non-Farm Payrolls (NFP) report, released by the United States Bureau of Labor Statistics, showed an increase of 4.8 million jobs in June, beating market forecasts. …

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  • 2 July 2020 6:01 pm

    Canadian Manufacturing PMI Jumps to 47.8 in June

    Markit Manufacturing PMI for Canada recovered in june. The Canadian Manufacturing PMI reported a contraction of economic activity recording 47.8 in May, compared to 40.6 in June. “The latest Canada Manufacturing PMI highlights a vastly improved situation in comparison to that seen over the previous three months,” said Tim Moore, Economics …

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  • 2 July 2020 5:52 pm

    Unemployment Claims in US at 1.24 M

    Data released by the US Department of Labor (DOL) on Thursday reported 1,427,000 initial claims for unemployment benefits in the United States in the week ending June 27, and that reading was slightly worse than the market forecast of 1,355,000. The reaction was mild in the market with the dollar …

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