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...
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Most Asian stock indices traded in the green, as equities in Europe and the US reversed losses on Wednesday...
Equities in Europe and US fell about 3-4% on Tuesday, as plummeting oil prices dented the investor appetite. The sell-off continued in Asia, though at a slower pace. Activity in FTSE (+0.18%) and Eurostoxx (+0...
The US crude turned negative for the first time in history and traded as low as $-40 per barrel on Monday. This is because the global oil glut has become so large that there is no space left to store this large quantity of unexploited oil. The market is literally submerged...
WTI crude slumped below $15 a barrel and pulled the energy-heavy ASX 200 more than 1% lower in Sydney, as the week kicked off on a mixed note elsewhere in Asia. Gold legged down to $1670 an ounce despite mixed sentiment in Asia. In the FX, the oil currencies were under the pressure of falling oil...
Gold retraced to $1700 per oz. WTI crude traded a touch below the $20 a barrel, while Brent consolidated near $28...
The sell-off in US and European markets lost pace despite less than ideal economic data, with major indices closing the day on a positive note. Nasdaq (+1.66%) stood out again, as demand in technology stocks remained strong. Biotech jumped 4...
WTI crude slipped below the $20 a barrel for the first time in a move that has been more sustainable than we have seen previously, after the IEA said that the global oil demand will slump 9% this year, meanwhile the oil storage will be full by mid-2020...
Global risk appetite deteriorates as ugly economic data added to weak bank earnings confirm that a sizeable recession is knocking on the door...
