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Market Analysis

August, 2020

  • 26 August 2020 10:53 am

    Natural Gas Futures

    CME Group’s preliminary readings for Natural Gas futures markets noted open interest shrunk by almost 4.5K contracts on Tuesday, reaching the second drop in a row at the same time. Volume, in the same direction, went down for the second consecutive session, now by nearly 44.8K contracts.

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  • 26 August 2020 10:51 am

    Gold Futures Declined During Asian Session

    According to the COMEX, gold futures were traded for December at $ 1931.50 per ounce, down 0.44%. It previously traded at a session low$ 1929.70 an ounce. Gold may find points of support at $ 1916.60 and resistance at $ 1970.30. The dollar index, which measures the performance of the …

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  • 26 August 2020 10:48 am

    FX Option Expiries For Aug 26 NY Cut

    FX option expiries for Aug 26 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1775 792m1.1830 689m – GBP/USD: GBP amounts         1.3150 385m  – USD/JPY: USD amounts          105.00 3.2bn105.40 839m105.50 383m105.75 1.1bn106.00 1.1bn106.15 420m106.50 399m106.60 570m107.03 1.3bn107.10 394m – AUD/USD: AUD amounts 0.7250 732m …

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  • 26 August 2020 1:33 am

    API: US Oil Inventories Down 4.5 M Barrels

    Estimates by the American Petroleum Institute (API) showed on Tuesday that crude oil inventories in the United States decreased by 4.5 million barrels last week. This would be the fifth consecutive weekly decline in US crude oil stockpiles, amid output disruptions in the Gulf of Mexico due to Hurricane Laura.

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  • 26 August 2020 1:20 am

    NYSE Closes Mixed with S&P and Nasdaq Breaking New Records

    The New York Stock Exchange (NYSE) showed a mixed performance on Tuesday, but with the S&P 500 and the Nasdaq continued to achieve new record highs. The Dow Jones Industrial Average declined by 0.21% to close at 28,248.44. The S&P 500 index added 12.34 points, or 0.4%, and finished at …

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  • 25 August 2020 11:50 pm

    USD Maintains Downward Trend

    The Dollar index (DXY) continues to maintain its decline for another day as it is closed to finish Tuesday’s session down by 0.31% a little above the 93 mark. The DXY measures the performance of the US Dollar (USD) against a basket of six major currencies. The USD is down …

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  • 25 August 2020 11:44 pm

    Oil Prices Finish Higher

    Oil prices closed higher on Tuesday, continuing to gain support from output disruptions due to weather conditions at the Gulf of Mexico. West Texas Intermediate (WTI) finished higher by 73 cents at $43.35 per barrel, or its highest level since March 5. Meanwhile, the global benchmark Brent crude futures for …

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  • 25 August 2020 11:31 pm

    Gold Settles Lowers as Trade Concerns Ease

    Gold prices finished lower on Tuesday, for the second consecutive day, as the remarks by US and China top trade officials eased concerns about a trade war between the world’s two largest economies, thus, lowering demand for safe havens. However, the US Dollar’s (USD) decline provided some support for the …

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  • 25 August 2020 9:41 pm

    European Stocks Give Up Earlier Gains and Close in Red

    European stocks closed lower on Tuesday, after rising earlier in the session supported by positive remarks regarding the trade agreement between the United States and China. Officials from the world’s two largest economies reaffirmed their support for the trade deal. The STOXX Europe 600 index closed lower by 0.16%. The …

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  • 25 August 2020 9:33 pm

    GBP/USD Rising Above 1.31

    The British Pound (GBP) rose on Tuesday on the back of the US Dollar (USD) decline, despite a decline in the UK’s retail sales. The Sterling is up against the USD by 0.47% with the GBP/USD trading at 1.3124. Retailers in the UK have cut jobs at the highest rate …

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  • 25 August 2020 6:55 pm

    US Home Sales Rise by 13.9% in July

    New homes sales in the United States increased by 13.9% in July to a seasonally adjusted annual rate of 901,000 units, according to data by the U.S. Census Bureau. This is the highest level for new home sales in around 13.5 years, since December 2006, with the housing market showing …

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  • 25 August 2020 6:45 pm

    Richmond Manufacturing Activity Improves in August

    Manufacturing activity continued to strengthen in August, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite index rose from 10 in July to 18 in August, with survey results suggesting that many Fifth District manufacturers saw increases in employment, wages, and the average workweek …

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  • 25 August 2020 6:30 pm

    US Consumer Confidence Decreases in August

    The Consumer Confidence Index in the United States decreased for the second consecutive month in August to 84.8 down from its July reading of 91.7, according to data by the Conference Board. Moreover, the Present Situation Index decreased sharply from 95.9 last month to 84.2. Meanwhile, the Expectations Index declined from …

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