The US dollar sank to a two-year low after the Empire Manufacturing index warned that the business conditions in the US deteriorated significantly more than expected in August, with the headline figure showing a decline to 3.7 from 17.2 printed a month earlier...
Gold remained bid above the $1930 per oz, but investors remain in a wait-and-see mode following the severe downside correction that dragged the price of an ounce by up to $200 last week...
Equities in Asia kicked off the week on a mixed note. Nikkei (-0.63%) fell as the data showed the Japanese economy contracted 7.8% in the second quarter and 27.8% on annualized basis, the worst figures on record, as the pandemic took a heavy toll on consumption, capital expenditure and exports...
US equities edged lower, except for technology stocks as standstill fiscal talks in the US limited the appetite for more equity purchases as the major US indices fluctuated near their all-time highs...
Elsewhere, the European July inflation figures are expected to print negative numbers in July despite business reopening and normalisation. The Australian unemployment rate rose to 7.5% in July, the highest since November 1998, as the number of unemployed skyrocketed from 15...
The downside correction in US technology stocks didn’t last long. Nasdaq rebounded more than 2% on Wednesday, and the S&P500 (+1.40%) traded above the all-time closing high completing a full circle to return to its pre-Covid levels. Apple (+3...
The EURUSD fell to 1.1711 on the back of a sudden pop in the US dollar and has potential to extend losses toward the 1.1640 handle, the minor 23.6% retracement on March – August rebound. In the absence of major events in Europe and the US today, the pair should follow the dollar’s lead...
US stocks sold sharply into the closing bell on stalling fiscal stimulus discussions in the US. Broad profit taking on tech stocks sent Nasdaq 1...
In the currency markets, the US dollar is a touch stronger against the leading reserve currencies including euro, yen and Swiss franc. The EURUSD extended losses to 1.1722 on the back of a broad-based recovery in the greenback...
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...
