European markets opened the week on a neutral note, the US’ blue-chip stocks gained on Monday, while tech giants retreated with the exception of Apple shares. Investors moved capital to industrial stocks. Oil edged higher and Asian stock indices advanced the most in a week...
Asian equity indices kicked off the week on a mixed note, as US stock futures recovered after a dip at the open. Stocks in Sydney (+1.68%), Seoul (+1.43%) and Shanghai (+0.42%) gained, but the Hang Seng (-0.36%) slid. Tokyo was closed due to bank holiday...
The US dollar is better bid before the US jobs figures. The US dollar index recovered to the 93 mark, as solid demand in US treasuries continues weighing on the US sovereign yields. The greenback continues determining the overall direction across the currency markets. The EURUSD surged to 1...
S equity indices gained for the fifth day on hope that an additional fiscal stimulus package would soon be signed, or extra measures including enhanced benefit payments, payroll-tax holiday and student loan repayment relief would be forced by President Donald Trump if the deadlock among Congressi...
The boost in oil prices following the Beirut blast pushed WTI crude above its 200-day moving average of $43 pb on Wednesday, but decent offers blocked the way higher above this level...
US stocks extended gains as investors saw progress on negotiations for the US’ next fiscal stimulus package as White House made some concessions to end the deadlock, although Democrats ask for more...
Capital poured into treasuries and gold. Gold extended its record-breaking rally and surged to the $2022 per oz on prolonged US fiscal stimulus talks, rising threats to the US-China trade deal and Beirut explosion...
US stocks posted modest gains and equities in Asia lacked direction, as better-than-expected US factory orders didn’t better the mood in the absence of an agreement for more US fiscal stimulus and rumors that the US and China will review their phase-one trade deal spurred worries that the deal co...
The economic calendar for Tuesday is light. The US factory orders are expected to have improved 5% in June versus 8% a month earlier on the back of renewed virus-containment measures and the European factory gate prices are expected to have risen 0.5% m-o-m in June from -0...
US and European stock markets advanced on the back of promising economic data on Monday. Technology stocks led gains. The DAX rallied 2.71% and Nasdaq (+1.47%) renewed record as investors continued piling into technology stocks favourable for the stay-home business conditions...
The US dollar is better bid on Monday and the 10-year treasury yield rose near 0.55%. Fitch maintained the US long-term debt at AAA but downgraded the outlook from stable to negative...
Equities in Tokyo (+2.10%) and Shanghai (+1.08%) kicked off the week on a positive note on the back of promising economic data. The Japanese GDP printed 2.2% y-o-y contraction in the second quarter versus -4.4% expected by analysts and the manufacturing PMI, 45...
But the EURUSD extended gains to 1.19 and the GBPUSD surged to 1.3142 on the back of a further USD sell-off. The euro and sterling’s stretched rally should not be misunderstood, however, as the severe debasement in the greenback is responsible for most of the recent gains...
The US GDP fell 32.5% in the second quarter, the highest on record but slightly less than analyst estimates. The US dollar index slid below the 93 mark as the 10-year yield dipped to 0.525%. The US equities were mostly down, as energy stocks led losses...
Oil prices remained steady near the $41 per barrel even with the announcement of a surprise 10-million-barrel slump in US oil inventories last week. There is a clear toppish sentiment in oil markets where the hesitation to carry the prices higher could trigger a retracement below the $40 pb...
As expected, the Federal Reserve (Fed) maintained its dovish policy stance at this month’s meeting, as Chair Jerome Powell painted a gloomy picture of the economy, emphasizing that the global economy is faced with the most severe recession of our lifetime, that the path forward is ‘extraordinaril...
In the FX, with dollar steadying, the major pairs that have been sent to overbought territories have started retracing a part of their latest gains. The EURUSD tested the 1.17 support on Tuesday and a deeper downside correction could drag the pair towards 1...
Asian trading session lacked a clear direction, after mixed European and bearish US trading. Chinese stocks (+1.05%) rose following a soft start, while Japanese equities (-1.02%) edged lower as Fitch revised the country’s sovereign debt rating outlook from stable to negative...
