“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 »Japanese Yen Stabilizes as USD/JPY Rally Cools
The Japanese Yen has stabilized after a period of steady weakness against the US Dollar. The recent …
Nvidia Stock Under Pressure as AI Trade Faces China Headwinds and Market Caution
Nvidia shares came under pressure in recent trading, falling by more than 3% as investors reacted to…
Euro Holds Steady Against Pound as UK Weakness Contrasts With Resilient Eurozone Growth
The euro remained broadly stable against the British pound on Tuesday after sharp moves in the previ…
British Pound Slides as UK Political Uncertainty and Strong US Economy Boosts Dollar
The British Pound weakened sharply against the US Dollar on Tuesday as investors reacted to politica…
Dollar Hits 1-Year High as Two Fed Hikes Now Priced: Yen Approaches 40-Year Low as Katayama Holds Emergency Talks With Bessent
Key Takeaways Dollar at 1-year peak: The DXY rose to 101.18 — its highest in over a year — driven by…
Nasdaq Futures Tumble 2.6% as AI Trade Cracks: Two Fed Hikes Now Priced as Samsung and SK Hynix Plunge 8-11%
Key Takeaways Futures crash: S&P 500 futures slid 1.36% to 7,371.6; Nasdaq 100 futures tumbled 2…
European Stocks Slide 1% as Iran Peace Euphoria Evaporates and Higher-for-Longer Rate Fears Return: ECB’s Next Move in Focus
Key Takeaways Sharp open in red: The Stoxx 600 fell 1%, Germany’s DAX dropped 1.3%, FranceR…
Gold Plunges 2% as December Fed Hike Odds Hit 90%: Dollar Near 13-Month High Squeezes Bullion From Both Sides
Key Takeaways Gold falls sharply: Spot gold dropped 1.8% to $4,117.61 per ounce, while gold futures …
Oil Edges Up After Monday’s 3% Crash: U.S. Issues 60-Day Iranian Oil Sanctions Waiver as Peace Deal Momentum Builds
Key Takeaways Modest rebound: Brent rose 0.3% to $78.10 per barrel, while WTI gained 0.4% to $74.18 …
Farewell to a Legend, Fed’s New Chapter Begins
The economic world bid farewell to one of its most influential figures, who passed away at the age o…
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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