market report

The electric car maker Tesla (NASDAQ: TSLA) reported its fifth consecutive quarterly profit on Wednesday, with revenue of US$8.8 billion. Tesla delivered 139,300 vehicles this quarter, beating the company’s previous record of 112,000 vehicle deliveries in the fourth quarter of 2019. "Achieving...

US dollar edged lower amid rising hopes for the United States would conclude a new stimulus package. The next stimulus agreement could be worth up to $2 trillion and contain more direct payments to U.S. individuals and families. US House Speaker Nancy Pelosi said she remains hopeful of a...

Global markets are trading mixed on Tuesday as investors are concerned about the increasing number of COVID infections. Ireland and Wales became the first countries on the continent to re-enter lockdown as the number of people who have died from Covid-19 in Europe passed 250,000. Ireland’s total...

The National Bureau of Statistics data showed on Monday China's gross domestic product (GDP) expanded 4.9 percent year on year in the third quarter of 2020, that’s lower than economists forecast, but faster than the 3.2% expansion seen in the second quarter. Meanwhile, the retail sales grew 3.3...

US Dollar hovers near the two-week high ahead of US retail sales numbers that will come out at 12:30 GMT, which is expected to show a rise of 0.8%. EQUITIES Global stocks trading mixed on Friday amid concerns over rising coronavirus infections and fresh lockdown restrictions in several...

The British pound trading volatile ahead of the European Union summit on Thursday as investors waiting for further updates about the future of negotiations between the European Union and Britain. While the UK government hinted at its willingness to extend the Brexit negotiations beyond the...

On Tuesday, the U.S. Labor Department announced its U.S. Consumer Price Index rose 0.2% last month, after a 0.4% rise in August. On a year-over-year basis, the CPI increased by 1.4% after rising 1.3% in August. EQUITIES Wall Street closed lower on Tuesday after U.S. health regulators have...

Apple (NASDAQ: AAPL) shares closed 6% higher on Monday ahead of its virtual "Hi, Speed" event on Tuesday. The company is set to reveal a new iPhone and other technology updates. The launch event will be an online event that will be live-streamed from the Apple Park and the Steve Jobs Theatre in...

Bitcoin (BTC) started the week on a Positive note and trades steady above $11000 supported by the weaker dollar and payments company Square announced a $50 million investment in Bitcoin. At the time writing, BTC trades around $11380 the highest level since Sept. 2, and the next important level...

US Dollar Index trades near the two-week low on Friday. The Index retreated from the highs by hopes of new stimulus and set to post a decline for the second consecutive week. Earlier Trump suspended negotiations on a new program to support the American economy until the end of the presidential...

The stock market continues to be volatile going up and down. On Wednesday, Wall Street ended higher after President Trump appeared to soften his stance on a further stimulus package for American households, airlines, and small businesses. On Tuesday, the stocks fell following President Trump...

US President Donald Trump on Tuesday ordered a stop to negotiations with Democrats. He said he plans to pass a “major stimulus bill” if he is re-elected on Nov. 3. “I have instructed my representatives to stop negotiating until after the election when, immediately after I win, we will pass a...

Reserve Bank of Australia kept the cash rate unchanged at a record low of 0.25% during its October meeting. The central bank said the decision was based on the uneven recovery of the global economy due to the coronavirus. The RBA also kept its target yield for three-year government bonds at that...

Eurozone, Germany, and UK September service PMI data reported better-than-expected. Moving ahead to the North American session, the US will release the latest ISM non-manufacturing PMI figures. UK services PMI – Actual: 56.1 Forecast: 55.1 Previous: 58.8 Eurozone services PMI - Actual: 48.0...

The US nonfarm payrolls report is one of the most important data scheduled for release later today, the NFP report due at 12:30 GMT today. NFP measures employment levels in the United States that does not include farm workers, private household employees, or non-profits. The market is expecting...

The British pound plunged more than 100 pips during the European session after the EU and the UK failed to close differences in the latest round of trade talks. On the other hand, UK Manufacturing PMI reported 54.1 for the last month, slightly lower than expected. EQUITIES Wall Street ended...

China's official manufacturing PMI released on Wednesday; the PMI rose to 51.5 in September from 51 the previous month. Meanwhile, the Caixin manufacturing PMI edged down from 53.1 last month to 53.0 in September. EQUITIES Asian stocks trading mixed on Wednesday despite better-than-expected...

US stock futures and Metals trading steady on Tuesday ahead of the first US presidential election debate between US President Donald Trump and his Democratic rival Joe Biden which is set to start at 9 pm ET (2 am on Wednesday morning in the UK). EQUITIES Wall Street ended higher on Monday...

US New Home Sales for August revealed an advance to 1,011K, against the predicted 890K, according to a report from the National Association of Realtors. Sales of new homes increased by 4.8%, the rate was the highest since 2006. On the other hand, the existing home sales increased 2.4% to a...

The US dollar index surged to two months high on Thursday. At the time writing, the index trades steady above 94.40. Moving ahead to the North American session, the investors and traders will closely monitor the latest US home sales and weekly jobless claims data. EQUITIES Global equity...