“Germany’s economy will gradually recover after a historic slump due to the coronavirus pandemic and will likely return to last year’s level at the end of 2021,” economic institute IFO said on Wednesday, according to Reuters. IFO sees GDP contracting by 11.9% in Q2 on a quarterly basis and to …
Read More »Warsh’s First Fed Test: Markets Brace for Interest Rate Signals and Dollar Volatility
Global financial markets are turning their attention to the Federal Reserve’s June policy meeting, w…
Pound Retreats as Inflation Cools, While Strong US Data Revives Dollar Strength
The British Pound came under pressure on Wednesday as weaker-than-expected inflation data prompted i…
Yen Shrugs Off Historic Rate Hike as Markets Look Beyond the BoJ
The Japanese Yen remains under pressure even after the Bank of Japan delivered its highest interest-…
U.S. Retail Sales Beat Forecasts in May, Rising 0.6% as Consumers Defy Iran War Headwinds
Key Takeaways Sales beat expectations: U.S. retail sales rose to $763.7 billion in May, exceeding th…
Eurozone CPI Hits 3.2% as Energy Prices Surge 10.8%: Iran Deal Offers Potential Relief After ECB’s First Hike Since 2023
Key Takeaways Headline CPI accelerates: Eurozone annual inflation rose to 3.2% in May from 3.0% in A…
Bitcoin Treads Water Ahead of Fed Decision: Uniswap Rockets 20% on Standard Chartered’s $100 Price Target
Key Takeaways Bitcoin barely moves: The world’s largest crypto fell 0.3% to $65,847.7, cutting…
Dollar Arrests 4-Day Slide as Markets Freeze Ahead of Warsh’s Fed Debut: Iran Deal Shifts Focus to Central Bank Trajectories
Key Takeaways Dollar stabilizes: The DXY traded largely flat at 99.55 — near a 10-day low — ending i…
UK Inflation Holds at 2.8% in May, Beating Forecasts: Iran Peace Deal Sparks Hopes of Peak Passing as BoE Holds Tomorrow
Key Takeaways CPI steady at 2.8%: UK inflation was unchanged from April’s 13-month low — well …
Gold Pauses After Four-Day Rally as Fed Decision Looms: World Gold Council Survey Shows Central Banks Buying More
Key Takeaways Gold steadies: Spot gold edged down 0.1% to $4,327.56 per ounce, while gold futures ti…
Oil Falls for Fifth Straight Session to March Lows: Iran Deal Supply Wave Looms as API Flags Massive 8.3M Barrel Draw
Key Takeaways Five-day losing streak: Brent fell 0.9% to $78.23 per barrel, while WTI slipped 1.2% t…
Market Analysis
July, 2020
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1 July 2020 2:13 pm
Eurozone PMI Manufacturing Finalized at 47.4
Eurozone PMI Manufacturing was finalized at 47.4 in June, up from 39.4 in May a report by IHS Markit said. The index was in contraction below 50 for 17 consecutive months. and had fallen to 33.4 in April. The report stated: “Eurozone manufacturing sector continues to contract sharply,” “There was …
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1 July 2020 1:54 pm
UK Manufacturing Activity Picked Up in June
After the Great collapse due to COVID 19 pandemic, the UK manufacturing sector returned to recovery after it began to stabilize last June. IHS Markit’s Purchasing Managers Index (PMI) posted 50.1 compared to 40.7 in May, in line with economists’ expectations. PMIs are given on a scale of 0 to …
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1 July 2020 1:13 pm
Dubai’s Economy Shrank by 3.5% in Q1 Amid Coronavirus Pandemic
The government media office in UAE said in a statement issued on Tuesday that Dubai’s real GDP decreased by 3.5% in Q1 year-on-year as the country was hit by the Covid-19 pandemic, according to Reuters. The government said some sectors such as real estate and finance have maintained their strength …
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