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Market Analysis

July, 2020

  • 3 July 2020 2:28 pm

    WTI Crude Drop

    August West Texas Intermediate crude futures fell nearly 1.50% during European session after facing a rejection near 40.50. WTI failed to sustain the higher levels but on track to record weekly gains. The growing fears of an increase in the numbers of cases with Covid 19 affected the market sentiment, …

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  • 3 July 2020 1:49 pm

    British Pound Ready to Post First Weekly Gains in a month.

    Pound continued its losses against a basket of currencies for the second day in a row and fell against the US dollar on the corrective movments of and profit-taking, though, the Pound is about to make its first weekly gain in a month with Boris Johnson’s statement to expand spending …

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  • 3 July 2020 1:05 pm

    Trump: “There is a rise in Coronavirus cases because our testing is so massive”

    US President Donald Trump tweeted on Friday: “There is a rise in Coronavirus cases because our testing is so massive and so good, far bigger and better than any other country,” adding that this is excellent news, but “even better news is that death, and the death rate, is down. …

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  • 3 July 2020 12:46 pm

    Gold in a Narrow Range

    Gold recorded stability and remained in a narrow trading range of five dollars on Friday, influenced by fears of a high number of Covid 19 cases and continued trade tensions between the United States and China as well as a higher-than-expected payroll report (NFP). There was little change in gold …

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  • 3 July 2020 12:15 pm

    Germany’s Merkel Asks EU to Prepare For a no-deal Brexit

    Addressing the German parliament on Friday, Germany’s Chancellor Angela Merkel said that they are preparing on every level for a no-deal Brexit. In previous remarks on Monday, Merkel warned that the European Union (EU) needs to be prepared for a situation in which a Brexit deal is not reached. The …

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  • 3 July 2020 11:33 am

    June NFP: Is This Jump in Employment Numbers a Good Sign?

    The June NFP report was stronger than expected, showing better results than what most economists estimated amid efforts to get the economy back to normal.  According to the Bureau of Labor Statistics, the US added 4.8 million jobs, and the unemployment rate came in at 11.1%, which according to BLS, …

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  • 3 July 2020 10:41 am

    US Dollar Index Bounces Off Lows

    The US dollar index traded on the positive side around the 97.30 regions by the end of the week. The index had risen for the second straight session on Friday, gaining some momentum and overcoming Covid-19 concerns. The demand for the dollar increased as risk aversion among traders returned despite …

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  • 3 July 2020 10:19 am

    Asian Shares Hit Four-Month High

    Asian stocks rose to a four-month high on Friday in reaction to the report of strong payroll report (NFP) and growth in Chinese service activity, but the rise of Covid 19 cases in US has put limits on more risk appetite. China’s service sector activity expanded at its fastest pace …

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  • 3 July 2020 1:01 am

    NYSE Records Strong Weekly Gains

    The New York Stock Exchange (NYSE) closed the week on high gains before a three-day weekend, with investors growing optimistic about a potential vaccine for the coronavirus (COVID-19). The Dow Jones Industrial Average closed higher by 0.36% to 25,827.36, while S&P 500 gained 0.45% to settle at 3,130, and the …

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  • 3 July 2020 12:37 am

    Oil Settles With Gains Above 2%

    Oil prices increased on Thursday, maintaining support from a decline in the US crude inventories. In addition, positive economic showed signs of a recovery despite a record surge in coronavirus disease (COVID-19) cases in the United States. Brent crude futures closed up by 2.6% or $1.11 at 43.14 per barrel, …

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  • 2 July 2020 11:05 pm

    Gold Settles Higher on Thursday

    Gold prices increased on Thursday with the rising number of cases with the coronavirus disease (COVID-19) pushing demand for safe havens, despite news of successful attempts at developing an effective vaccine and signs of economic recovery. Gold futures for August delivery increased by $10.10, or 0.6%, and closed at $1,790 …

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  • 2 July 2020 10:39 pm

    European Stocks Close Thursday near Month-High

    European stocks closed Thursday higher, supported by positive sentiments regarding economic recovery as markets across the continent continue to reopen and data from the US showing a surge in new jobs during June. The pan-European STOXX Europe 600 increased by 1.89% to settle at 368.03 points, its highest closing level …

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  • 2 July 2020 10:01 pm

    Leading Cryptocurrencies Trading Lower on Thursday

    The top cryptocurrencies showed a decline over the past 24 hours, despite an improved risk appetite across most global markets. Bitcoin is currently trading at $9,110, down by 1.81%, while Bitcoin Cash is down by 2.32% at $220.72. Ethereum decreased by 1.88%, trading at $227.36. Tether and XRP are down …

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