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Market Analysis

July, 2020

  • 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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  • 13 July 2020 12:53 pm

    European Stocks Rise, Focus on Earnings Reports

    European stocks rose on Monday, with the cyclical sectors leading the gains as investors optimistic about the earnings season and the economic recovery from the effects of the Covid-19 pandemic. The pan-Euro Stoxx index rose 0.8% as banking, automobile and oil stocks rose from 1.2%:2.0%, while mining stocks gained 2.0 …

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  • 13 July 2020 12:27 pm

    German Wholesale Price Index Rebounded in June

    Wholesale prices in Germany recovered during Jun compared to May. Data released by the Federal Statistical Office of Germany on Monday showed that the wholesale price index in Germany increased by 0.6% in June, compared to 0.6% in May. The wholesale price index in Germany fell on an annual basis …

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  • 13 July 2020 11:06 am

    Oil Prices Drop With Concerns Over Supply

    Oil prices fell on Monday in Asia ahead of the OPEC meeting on Wednesday. Brent crude prices fell 0.74% to $ 42.92 a barrel, West Texas Intermediate (WTI) fell 0.81% to $ 40.22 a barrel. Oil had risen more than 2% on Friday after the International Energy Agency (EIA) revised …

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