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Market Analysis

July, 2020

  • 13 July 2020 8:05 pm

    Goldman Sachs: Recovery Signs Too Early to Call

    A recent note by Goldman Sachs said that the United States and global economies are showing signs of recovery, based on recent reading by the purchasing managers’ indices (PMIs). After reaching readings as low as 30s in April, the indices are hovering around the 5o reading, which signals expansion in …

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  • 13 July 2020 7:42 pm

    NYSE Opens Week Higher

    Indices of the New York Stock Exchange (NYSE) opened higher on Monday, with the Nasdaq reaching yet another record high, with investors growing optimistic about a vaccine for the new coronavirus disease (COVID-19). The Dow Jones Industrial Average opened higher by 0.57% at 26,225, while the S&P 500 gained 0.63% …

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  • 13 July 2020 7:41 pm

    WHO Warns COVID-19 Could Get Worse and Worse

    The World Health Organization (WHO) has warned on Monday that the new coronavirus (COVID-19) pandemic may be getting worse around the world, with many countries failing to correctly respond to the situation and take the necessary preventive precautions. “Let me be blunt, too many countries are headed in the wrong …

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  • 13 July 2020 6:10 pm

    Bitcoin in a Marginal Range at $ 9,300

    The cryptocurrency, Bitcoin, is moving in a limited range on Monday to settle near $ 9,300 for the fourth consecutive session and trades have fluctuated over the past four sessions between $ 9,050 and $ 9,350. The currency fell 0.13% on a daily basis and is currently trading near $ …

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  • 13 July 2020 5:39 pm

    Bailey: Seeing Signs of Recovery

    Bank of England Governor Andrew Bailey said on Monday that the country is experiencing signs of an economic recovery. However, there is still a long way to go and emphasized employment worries. These comments had little impact on market sentiment and performance of the Pound sterling. FTSE 100 in the …

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  • 13 July 2020 5:06 pm

    USD/JPY: To Daily High

    The USD/JPY pair remained marginally moving below 107.00 during the Asian session but with the opening of the European session, it gained momentum and rose at the time of writing by 0.3% on a daily basis to 107.20. Risk-on sentiment remains the main driver for the pair on Monday, with …

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  • 13 July 2020 4:53 pm

    China’s Premier Li: Economy is Recovering

    The Chinese economy is showing a steady recovery, but a difficult battle is still waiting, as the situation remains critical at home and abroad. China’s Premier Li Keqiang told the state media on Monday, as reported by Reuters.                Quotes “We should strengthen our confidence in development, but the situation at …

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  • 13 July 2020 3:51 pm

    US Stocks to Open Higher

    US Stock markets are poised to open higher, ignoring increasing cases of Covid-19 and optimism about the earning report of US companies. Goldman Sachs strategists have revised their forecasts for the 2020 earnings per share S&P 500 up to $ 115 from a previous 110, according to note released at …

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  • 13 July 2020 3:43 pm

    IMF Revised its Forecasts for Asia and Middle East

    The International Monetary Fund (IMF) revised its growth forecasts for the Middle East and Central Asia as economies were affected by worse than expected oil crisis and Covid-19 pandemic, according to Reuters. The region, which includes about 30 countries from Mauritania to Kazakhstan, will see real GDP drop by 4.7% …

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  • 13 July 2020 2:57 pm

    China Warns Travelers to Australia

    In a statement issued by the Chinese Foreign Ministry, published on its official Wechat account, it advised citizens to reconsider their travel plans to Australia amid anti-China sentiments and racist practices. The South China Morning Post (SCMP) reported that the souring diplomatic relations between Australia and China were not expected to impede …

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  • 13 July 2020 2:24 pm

    Covid-19 Cases Exceed 13M

    Covid-19 cases continue to rise during Monday, bringing the numbers to 13 million cases globally, as it rose in the morning by 20,924 new cases to reach the total of 13,049,106 with the death toll reaching 571,807. Cases that fully recovered to 7,591,913. The United States tops the number of …

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  • 13 July 2020 2:00 pm

    Aramco Cuts Crude Supply to Asia

    Saudi Aramco will reduce its shipments of medium and heavy crude for August to at least six Asian buyers, sources familiar with the matter said. The Kingdom of Saudi Arabia, the largest oil producer and exporter in OPEC, to cut production and exports in compliance with the OPEC agreement, reducing …

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  • 13 July 2020 1:19 pm

    US Dollar index Testing 96.60

    The US dollar index, which tracks the strength of the greenback versus a basket of currencies, managed to recover from previous lows in the range of 96.40 / 35 recorded earlier. The index started the week on the negative side, although it managed to regain some momentum and returned to …

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