Market Overview

5 August 2020 09:41

Mark Goichmann

Low inflation in developed economies have become a curse since the Great financial crisis of 2008. It discourages producers, as inconsiderable rise of prices means low demand and difficulties in sales. Thus, the growth of the economy is also under threat. Developed economies have been struggling for several years to meet the inflation target of two % and yet have hardly succeeded in it. Many quantitive easing programs and lowering interest rates throughout the globe have been tailored to meet this ultimate goal. Such efforts were made consistently by the U.S.
29 July 2020 07:08

Mark Goichmann

Crude prices have stabilised over the last week of July within the range of $43.2-44 per barrel of Brent crude. Oil prices are balanced by several counteractive factors. Crude output is rising in countries that are not linked to the OPEC+ deal, namely the United States. The number of oil rigs is rising in the U.S. for the first time since March. According to the recent data published by Backer Hughes, crude output rose by 0.1 million barrels per day to 11.1 million bpd. Rising production curbs prices from a further climb. Newly emerged signs of U.S.
22 July 2020 06:58

Mark Goichmann

The recent decline of the U.S. Dollar prompted a “mainstream” suggestion that the American currency is moving towards the underworld. For example, some expect the Euro to climb to the 1.30 level versus the Dollar. Mizuho Bank analysts suggest that the recently approved UE recovery fund worth 750 billion Euros will complement this decline as this recovery plan suggests huge EU nations’ borrowings denominated in Euros. This move will create a steady cash inflow in government bonds and may raise the demand for the Euro.
14 July 2020 12:52

Mark Goichmann

After several months of a rally, gold prices went beyond strong physiological levels above $1830 per troy ounce, a maximum since 2011. This year alone gold has soared by 20%, and directed currency rates and the appreciation of precious metals. This is related to several factors complimenting each other. Gold is rising as a safe haven asset amid investors’ fears concerning the spread of the pandemic. Risks of the second wave are turning more and more towards becoming a reality, manifesting itself in spikes of infections in the United States, Africa, Asia and South America.
3 July 2020 12:06

Mark Goichmann

A very strong U.S. jobs report on Thursday created necessary conditions for global markets to continue the rally on faster recovery expectations. Whether these conditions are sufficient, will probably be shown next week, since today the American stock exchanges are closed for the Independence Day celebrations in the United States. However, even in the context of limited trading activity, the signs of growth were additionally appended on Friday by both Chinese and European indicators of a favourable business environment.
2 July 2020 10:47

Mark Goichmann

Crude prices were supported in the recent days by many factors, including the improving pandemic situation and the reopening of worldwide economies, and positive developments in the research of the vaccine against COVID-19. Positive results of the vaccine tests released by Pfizer and German BioNTech are encouraging investors as the demand for crude may increase further. U.S. crude reserves recorded a sharp decline of 7.2 million barrels for the previous week. It is worth mentioning that last week crude reserves were up by 1.4 million barrels.
25 June 2020 13:57

Mark Goichmann

In its World Economic Outlook Update, International Monetary Fund (IMF) lowered the forecast for global GDP in 2020. The Fund projects the world’s GDP would decline by 4.9% vs three % that the IMF had expected in its April Outlook.  Global projections provided by world leading financial institutions are worsening as the pandemic spreads across the world. It may be more appropriate to say that they are becoming more realistic. In January of this year, the United Nations Organisation suggested the world economy would grow by 1.8-2.5% this year against 2.9% in 2019.
19 June 2020 09:34

Mark Goichmann

The British Pound plummeted on Thursday as the Bank of England (BoE) is considering bringing interest rates to the negative territory from the current rates of 0.1%. BoE governor Andrew Bailey stressed that there was no immediate plan to cut rates below zero but confirmation that he wants the option to reflect the severity of the crisis. Although the British financial regulator has not put forward any actions regarding interest rates in its meeting on Thursday, investors believe that the BoE may lower them shortly. Recent macroeconomic data for the U.K.
17 June 2020 07:12

Mark Goichmann

Oil prices resumed an upward move and are gaining more support this week. However, prices are pressured by the lowering optimism of leaving the acute phase of the pandemic behind. New pest holes have occurred in China and Japan. Mass street protests in the United States and in Europe are also raising concerns not only about the slow down of business distribution once more, but also about the chance that these could become new hot spots for the pandemic. The number of new infection cases are rising on a  worldwide scale.
9 June 2020 07:54

Mark Goichmann

The British Pound rally led the Cable to a three-month high in June as the currency broke through a strong resistance level of 1.2650. Both the US Dollar and the Pound itself provided many reasons for such legging. The Greenback is weakening as the safe-haven asset amid falling demand and the rising sentiment for risk in financial markets. Surprisingly,  the recent NonFarm Payrolls data that turned out to be unexpectedly positive for the US did not spur a Greenback strengthening.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.