Released this morning, the British production and growth data surprised to the upside. The industrial production slumped by 8.2% y-o-y in March versus 9.3% expected by analysts and the first quarter GDP contracted by 2% versus 2.5% penciled in. The pound shortly rebounded to 1...
Gold finds buyers below the $1700 per oz, but the US treasury demand - despite low yields, should limit the safety inflows to the yellow metal as risk-averse investors remain skeptical regarding the gold’s capacity to hedge a sharp risk sell-off at the current levels...
Equities in Asia mostly turned negative after European and US markets made a mixed start to the week amid rising concerns regarding what could go wrong as businesses reopen gradually across the globe. Gains in technology and healthcare stocks were offset by losses elsewhere...
The US dollar index steadies below the 100 mark as an indication that the global risk sentiment hasn’t been shaken by the latest employment figures in the US. The USDJPY is ready take over the 107-resistance. Gold remains close to the $1700 per oz...
Friday’s jobs data in the US was catastrophic with more than 20 million jobs lost during April, but in line with market expectations, so the market mood wasn’t shaken by the ugly number. The US equities closed last week on a positive note. The Dow rallied 1.91%, as S&P500 (+1...
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...
