US and European equities closed Thursday’s session comfortably higher, and futures rose on prospects of business reopening, even though the White House stood against issuing specific guidelines on when and how to kick start the economic activity on fear that they could be too prescriptive, and fo...
In the UK, the Bank of England (BoE) is widely expected to maintain the interest rates and the bond purchases program unchanged at today’s monetary policy meeting...
The early week optimism faded on the back of mixed but mostly negative corporate results in the US, hundreds of earning calls proving that the economic collapse due to the coronavirus has been far worse than the 2008 subprime crisis according to a Fed study, and a devastating jobs report...
The EURUSD tanked to 1.0825 following the German court decision and traded in the tight range of 1.0830/1.0845. Euro bears have the green light from data to continue selling this morning; the German factory output plunged 15.6%m-o-m in March versus -10% expected by analysts and -1...
The market mood somewhat bettered on prospects of business reopening, as US President Donald Trump said they need to get the economy running despite more people being affected by the virus...
The Swiss consumer prices have certainly retreated 0.8% y-o-y in April, as a result of a broad shut down in shops and restaurants. The Swiss franc remains strong against the greenback, which shows signs of consolidation amid last week’s sell-off...
The European indices started the week with sharp losses; the DAX (-3.64%) and CAC 40%( -4.24%) were hammered on worries that the renewed tensions between the US and China would prevent the shattered global economy from recovering at a plausible speed...
The EURUSD sees solid resistance near the 100-day moving average (1.0976). The renewed safety inflows to the US dollar could encourage a set back toward the 1.08 mark, the major 38.2% retracement on the latest rebound. Cable on the other hand slipped below the 1...
Asian equities kicked off the week on a mixed note. China and Japan were closed for holiday, the ASX 200 gained 1.13%, while stocks in Hong Kong lost around 4% on worries that Donald Trump could impose new tariffs on Chinese exports...
Donald Trump’s USA continues devoting all necessary monetary and fiscal measures to help the economy fight the coronavirus-led economic slowdown...
At its monetary policy meeting today, the European Central Bank (ECB) is expected to maintain the interest rates unchanged, as the ECB’s Q1 Bank Lending Survey showed that companies’ demand for short-term loans rose in the first quarter due to emergency cash needs in the context of the pandemic-h...
US and global equities are boosted by positive news from Gilead’s remdesivir trials to treat Covid-19 and solid results from Microsoft and Facebook as expected. In fact, stay-home environment benefited to Microsoft’s Team, where the daily active users rose by 75 million...
Moving to the economic calendar, Australia printed its highest quarterly inflation in five years. Consumer prices in Australia rose 2.2% in the first quarter of 2020 as wildfires and early effects of coronavirus outbreak led to a significant jump in food prices...
Major US stock indices closed slightly lower on Tuesday following a turbulent session, as technology stocks led losses with Nasdaq down by 1.40...
In the currencies market, the US dollar index strengthened a touch above the 100 mark on the back of fading global risk appetite. The two-day Federal Reserve (Fed) meeting starts today...
US and European equities closed firmly higher on Monday, despite rising anxieties about the GDP data due later this week. Stocks in Asia traded mixed. The Nikkei (-0.28%) and the ASX 200 (-0.50%) retreated, while Shanghai’s Composite (+0.11%) and Hang Seng (+0.77%) recorded moderate gains...
Back to Europe and UK, the activity is expected to decline by 9% and 7.5% this year according to Goldman Sachs, which warns that the contraction could be as much as 16%, in line with the ECB President Lagarde’s prediction of a 15% decline, if the reopening is slower than expected...
On the earnings side, American Airlines earnings are due today before the opening bell and the latest EPS estimate points at -2.26, like Delta Airlines which has posted its first loss in 9 years earlier this week. Now it is not said that the headline figures will shoot the stock price down...
The US stock markets closed Thursday’s session flat, while Gilead shares tumbled past 4% after the company’s Covid-19 drug remdesivir gave poor clinical results in a Chinese trial according to the Financial Times report based on accidentally released draft documents by the World Health Organizati...
