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Market Analysis

August, 2020

  • 13 August 2020 3:09 pm

    Facebook and Twitter Escalate War Against US Election Misinformation

    Online social media platforms have escalated their war against misinformation about the US election. Facebook has created a center to help users with polling resources, and Twitter has expanded the rules against misinformation about the mail and early voting. The move comes at a time when social media networks on …

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  • 13 August 2020 1:24 pm

    Gold Rises on Increased Demand And Lower USD

    Gold rose Thursday, August 13th, thanks to the dollar’s decline, to record further gains above the critical $ 1900 level, after a sharp retreat earlier in the week from its highest levels ever. By 07:08 GMT, spot gold increased 0.6% to $ 1929.13 an ounce, after falling below $ 1900 …

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  • 13 August 2020 1:16 pm

    IEA Sees Lower Oil Demand in 2020

    The International Energy Agency has revised its oil demand forecast for 2020 by 8.1 million barrels per day, warning that reducing air travel due to the Coronavirus will reduce global oil demand. The Paris-based International Energy Agency lowered its forecast for 2020 by 140,000 bpd to 91.9 million bpd, the …

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  • 13 August 2020 12:11 pm

    European Stocks Falling Due to US Tariffs And Airbus dips

    European stocks halted a four-day winning streak on Thursday, with the US government imposing tariffs on Airbus and a host of other European commodities unchanged, while trading in a group of blue-chip stocks after the right to distribute cash left the British FTSE100 index down. The European Stoxx600 index fell …

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  • 13 August 2020 11:27 am

    Oil Dropping After OPEC Report and US Inventories

    OPEC

    Crude oil prices fell Thursday, August 13, after OPEC said it expects demand for its oil to decline more than expected, although US government data showed a decline in inventories, indicating that demand is returning despite the Coronavirus pandemic. Brent crude fell eight cents to $ 45.35 a barrel by …

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  • 13 August 2020 10:44 am

    Germany’s IFO: Companies See Business Return to Normalcy in 11 Months

    According to the latest survey of businesses conducted by Germany’s influential IFO institute, the firms in Eurozone’s economic powerhouse expect business to return to normalcy in an average of 11 months from the coronavirus crisis. “For companies in the services sector, that number is even higher, at 11.7 months.” “The …

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  • 13 August 2020 9:50 am

    Gold Futures Rose During Asian Session

    According to the COMEX, gold futures were traded in December at $ 1943.55 per ounce, up 0.28%. It previously traded at a session high $ 1952.65 an ounce. Gold may find points of support at $ 1874.20 and resistance at $ 2089.20. The dollar index, which measures the performance of …

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  • 13 August 2020 9:17 am

    FX Option Expiries For Aug 13 NY Cut

    FX option expiries for Aug 13 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1650 518m1.1700 1.6bn1.1725 602m1.1760 589m1.1775 521m1.1825 634m – USD/JPY: USD amounts          105.50 1.0bn106.00 1.1bn106.70 888m107.00 850m107.20 651m107.30 378m – GBP/USD: GBP amounts         1.3000 750m  – AUD/USD: AUD amounts 0.7100 1.2bn  – …

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  • 13 August 2020 2:09 am

    Daily Recap: Wednesday, August 12, 2020

    Wednesday saw the Dollar resuming losses, while gold and oil returned to gains after a brief correction. Meanwhile, stock markets were not impacted by a rise in demand for safe havens, showing strong performance, supported by positive news about a COVID-19 vaccine. Here is a look at today’s top stories. …

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  • 13 August 2020 1:56 am

    NYSE Finishes Wednesday with Huge Gains

    The New York Stock Exchange (NYSE) closed higher on Wednesday, with the S&P500 index failing for the second consecutive day to close at a new record high after trading above its highest ever closing level. The Dow Jones Industrial Average added 1.05% or around 290 points, while the the S&P …

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  • 13 August 2020 1:34 am

    DXY Closes Another Day in Losses

    The Dollar Index (DXY), which measures the performance of the U.S. Dollar (USD) against a basket of six major currencies, continued its downward trend on Wednesday. DXY settled lower by 0.21% at 93.43, after moving throughout the day between 93.27 and 9.91 and closing Tuesday at 93.63. The absence of …

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  • 13 August 2020 1:22 am

    CHF Shows Strong Gains Across the Board

    The Swiss Franc (CHF) is showing a strong performance across the board, rising against most of the major currencies, supported by an increased demand for safe havens. The CHF is up by 0.52% against the U.S. Dollar (USD), with the USD/CHF pair trading at ‪0.91186. Similarly, the CHF is up …

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  • 13 August 2020 12:55 am

    Oil Settles at Highest Level in Five Months

    Oil prices increased on Wednesday, reaching their highest level in about five months, supported by the decrease in U.S. crude inventories. Brent crude futures for October delivery settled higher by 93 cents, or 2.1%, at $45.43 per barrel, its highest closing level since March 5. Meanwhile, the West Texas Intermediate …

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