Market Overview

4 August 2020 15:15

Frederico Aragao Morais

Today, market sentiment is relatively mixed. Democratic leaders and White House officials seem cautiously optimistic after another round of talks on Monday about the new coronavirus aid package, under increasing pressure to reach an agreement since millions of Americans are living without the $600 a week unemployment benefit supplement, and U.S. President Donald Trump has launched potential executive measures. The Dollar gained ground on the Yen this Tuesday in Asia, after robust economic data has increased risk appetite by putting the Yen under pressure as a safe asset.
4 August 2020 12:04

Lysakov Sergey

Today seems to be like a nice day for a short lull in the market battle, as only the Business Condition survey among firms in the New York City area is going to be published during today's trading session. There are no more noticeable macro reports that could be highly appreciated by the investment community. The Johnson's Redbook Index will come later, which is just same-store sale figures in a sample of large U.S. merchandise retailers representing about 9,000 stores.
3 August 2020 15:09

Frederico Aragao Morais

Today's market sentiment is of an appetite for risk. Good manufacturing and service data across Europe and China are fueling hope for a faster-than-expected recovery. European equities and U.S. futures continue to rise this Monday, before another week of results as discussions continue over a US pandemic relief package. Yields of US Treasurys fell on Friday, registering a weekly and monthly fall due to fears over the economic consequences for the global economy of the coronavirus.
3 August 2020 12:51

Lysakov Sergey

European stock prices were initially subdued after a negative close on Friday, as the London-headquartered HSBC bank, which makes most of its profit in China and Hong Kong but at the same time is the EU biggest lender, announced today that its pre-tax profits dropped more than 80% to £0.842 billion in the second quarter, down from £4.7 billion a year ago. The bank giant accelerated 35,000 job cuts and was forced to put aside another £2.9 billion to cover bad debts, warning its bad loans could exceed a previous total estimate, which could reach £10 billion by the end of 2020.
31 July 2020 13:21

Lysakov Sergey

The corporate reports from the four IT giants from the so-called FAANG group released on Thursday after the close of regular trading, surprised even the hard-boiled but inveterate optimists. Amazon shares showed $3211 in extended post-market trading and even $3217 later during today's pre-market period, which means +5.41% if compared with the official $3051.88 closing price yesterday. Apple Co shares soared to $402 in the post-market period, and climbed even higher to $407.
30 July 2020 15:07

Frederico Aragao Morais

Yesterday, investors assessed the potential terms of the next stimulus package and the easing of coronavirus infections, while digesting the results of major US companies. The Federal Reserve’s Chairman Jerome Powell also dominated the attention of the markets. In Europe, the Stoxx Europe 600 index gained 0.5%, at the end of a session in which it fluctuated between gains and losses. The German DAX index closed at the waterline, the French CAC index lost 0.2% and the British FTSE 100 index rose 0.4%.
30 July 2020 13:07

Lysakov Sergey

The narratives of the U.S. Federal Reserve’s (Fed) Chairman after a rather walkthrough-room meeting yesterday have not impressed the markets much. It was too casual by pandemic time standards and prompted assets that had been rising in price madly for several days in a row, like gold, silver or some currencies, only to repeat their previous highs this time. That was followed by a slamming wave of profit taking, which triggered some downside pullbacks. For example, just a little bit below $1954/toz in gold spot contracts for now after testing $1980/toz last night.
29 July 2020 12:49

Lysakov Sergey

September Futures for the U.S. Dollar Index (DXU0), which tracks the Greenback weighted average position against a basket of six other currencies, are already four % down since the beginning of July. Now they are located more than ten % lower than its highest values in March, at the peak of the quarantine-related safe-haven demand for the U.S. currency. After such a long trip, some currency pairs may take a kind of time-out for the nearest couple of trading sessions, ahead of the proposed announcement of 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.
28 July 2020 13:16

Lysakov Sergey

The price volatility in precious metals went into overdrive this morning as gold spot contracts skyrocketed first to the short-lived stratospheric highs above $1980/toz in early Asian hours and then nuzzled into the mud of a fleeting low at $1907/toz in the European morning. Afterwards they managed to recover by $15 higher again in several minutes and touched $1935/toz before the noon. The range of jumps reached as much as 15% for silver futures, which managed to draw alternately $26.15 and $22.25, and $24 again on intraday charts.
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