Despite US-China tensions and surging COVID cases, the gold price has dropped below $1,800 to test a support level that proved reliable on Friday. It seems that investors have booked profits after an impressive rally that accelerated in June...
In FX, investors continue to distance themselves from the US dollar and eye yielding currencies of emerging markets and those backed by commodities, including the Australian and Canadian dollar. The USD Index, which tracks the greenback against six currencies, is down 0.27% to 96.350...
Stock markets are back on track after being somewhat bearish last week. Nevertheless, the first signs of a rally continuation could be seen last Friday...
Gold retreated to $1795 per oz as investors liquidated their long gold holdings at the same time then they exited their risk positions. The simultaneous equity, gold sell-off in risk environment has become a usual behaviour and doesn’t dent the gold’s safe haven value in medium term...
The relation between the US and China is about to get worse after the US imposed sanctions on top Chinese officials for the abuse of human rights in the Xinjiang region. News come about the same time than the political frictions over the Hong Kong’s new national security law...
Meanwhile, demand in safe haven assets is firming with increased inflows in US treasuries, Swiss franc and gold. Gold cleared the $1800 resistance and rallied to $1820 per oz on stops...
Equities in Shanghai (+1.03%) extended gains for the eighth consecutive session, still surfing on the wave of optimism that more central bank and government stimulus is underway to maintain a ‘healthy’ bull market to tackle the Covid-led economic slowdown in China...
The US dollar index remains little changed near the 97 mark. The EURUSD retreated below 1.13 as the single currency encountered solid resistance into the 1.1350 mark over the past 48 hours...
US stock indices paused a five-day rally in New York, dragged lower by financial, industrial and energy shares. US treasuries and gold gained...
US stocks gained for the fifth straight day, after the rally in Shanghai boosted the risk sentiment across the global stock markets on Monday. Nasdaq hit a fresh record, as Amazon traded above the 3000 handle for the first time on increased demand for its ecommerce and cloud-computing services...
In the FX, the US dollar index slipped below the 97 mark. The EURUSD sees firm support on the back of a solid risk appetite and signs of compromise from the frugal four on the proposed 750-billion-euro fiscal rescue package before the July 9 Eurogroup meeting...
Asian stocks kicked off the week on a strong positive note; hopes for more policy support being pretty much the only explanation to the early week optimism. Shanghai’s Composite jumped more than 4% on a sudden peak in trading volumes, the Hang Seng rose 3.45...
Investors only had eyes for the 4.8 million rise in US nonfarm jobs last month, although the average earnings slipped 1.2% versus -0.8% expected by analysts and the jobless claims remained close to the 20 million mark...
In the FX, the US dollar remained near the 97 level and the US 10-year yield steadied below the 0.70% mark. The EURUSD sees a decent support from dip buyers below 1.12, but has difficulty gathering extra momentum above the 1.1250 mark...
US indices finished mostly higher on Wednesday on promising Covid vaccine trial from Pfizer and BioNTech, that maintained the hope of having a vaccine by January and dashed worries regarding the mounting new infection cases in the US. Tech stocks hit another record. The S&P500 advanced 0...
Activity in European futures hint at a flat open on Wednesday, as investors look for strong PMI prints, ideally above the 50-expansion mark for June...
The US indices extended their advance, as investors chose to concentrate on improving and mostly better than expected economic data rather than the alarming rise in Covid-19 cases in the US and warnings that the situation may be getting out of control...
A robust 44% rebound in US pending home sales has been the major driver of gains in US equities on Monday. The data wiped out the Covid-19 concerns, pushing the Dow 2.32% up. The S&P500 gained 1.47% as Nasdaq ended the session 1.20% higher...
