market report

UK GDP slightly rebounded by just 1.8% in May from a record plunge 20.4% in April as lockdown measures eased. Meantime, both manufacturing and industrial production numbers for May showed a decent rebound, with recoveries to 8.4% and 6% respectively. UK Chancellor Rishi Sunak said: "Today’s...

Crude Oil price struggles to find an upside direction as the oversupply concerns increase after data from both the EIA and API showed a surprise build in US crude inventories last week. According to the EIA Petroleum Status Report, US crude oil stocks rose by 5.654 million barrels in the week...

The British pound trading strong against the Dollar and Euro after the new £30 billion fiscal stimulus plan. On Wednesday UK Chancellor Rishi Sunak's announced fresh stimulus measures to support jobs and activity in the UK disappointed investors. Other measures included a stamp duty holiday, a...

ech Gold price climbed above $1,800 an ounce during the European session, the first time since 2011. The overall momentum remained bullish throughout this week as investors turned to safe-haven assets amid a spike in coronavirus cases in several countries across the globe. EQUITIES US futures...

The Reserve Bank of Australia (RBA) left official interest rates at the historical low of 0.25% on its monthly meeting on Tuesday. RBA governor Philip Lowe said, "Uncertainty about the health situation and the future strength of the economy is making many households and businesses cautious, and...

On Saturday, the World Health Organization (WHO) reported a record number of 200,000 new coronavirus cases, with the United States, Brazil and India showing the biggest increases. The number of people infected with COVID-19 across the world crossed 11.3 million, of which around 531,729 have...

U.S. stock markets are closed Friday in observance of Independence Day. Both the New York Stock Exchange (NYSE) and NASDAQ will be closed on Friday. Overall trading becomes a bit subdued as the US is on holiday and expects low and unusual volatility in the global markets today. EQUITIES Asian...

The U.S. non-farm payrolls report is one of the most important data scheduled for release later today. The consensus is for an increase of 3 million non-farm payroll jobs, and for the unemployment rate to decrease to 12.3%. NFP measures employment levels in the United States that does not...

European stocks and EUR/USD trading lower on Wednesday despite the release of the upbeat economic data. Germany Manufacturing PMI climbed higher to 45.2 in June of 2020 from a preliminary of 44.6 and 36.6 in the previous month and the German jobless rate ticked lower to 6.4% in June. While...

Gold price headed for a third straight monthly gain and in this quarter gold is up more than 12% in global markets. During the previous week, the yellow metal gained almost 1.4%, driving investors toward the safe-haven metal. The gold price surged to 8 – year high this month as demand for the...

The British pound trading lower against the Dollar and Euro on Monday as Brexit trade talks resume this week. On Monday, Britain’s chief negotiator Frost will meet in person EU’s deputy chief negotiator Martinez Alberola in Brussels for the first time since March. Meantime, Ireland’s Foreign...

The commerce department reported on Thursday, the US gross domestic product (GDP) decreased at an annual rate of 5 per cent in the first quarter of 2020. This is the sharpest quarterly decline since an 8.4 per cent fall in the fourth quarter of 2008 during the depths of the financial crisis...

The IMF said on Wednesday the global economy will shrink 4.9% this year, compared with its April estimate of 3%. The COVID-19 pandemic has had a more negative impact on activity in the first half of 2020 than anticipated, and the recovery is projected to be more gradual than previously forecast...

US plan to impose new tariffs on $3.1 billion of exports from the EU and UK. United States Trade Representative revealed on Wednesday the Trump administration may impose new tariffs on goods coming from the European Union and the United Kingdom. The new tariffs include on European exports like...

Eurozone, Germany, Australia, and UK manufacturing and service PMI reported a noticeable rebound in recent months. UK manufacturing PMI - Actual: 50.1 Forecast: 45 Previous: 40.7 UK services PMI – Actual: 47 Forecast: 40 Previous: 29 Eurozone Manufacturing PMI - Actual: 46.9 Forecast: 44.5...

Global markets started the week on a bearish note, amid fears over a resurgence of coronavirus cases. The World Health Organization reported a record increase in global coronavirus cases on Sunday, with more than 183 thousand cases in a 24-hour period. Brazil led with nearly 55,000 new cases...

Moving ahead today the investors look forward to the updates from European leaders meeting and Quadruple witching - when large derivatives positions rollover as futures and options expire in what is called ‘quadruple witching’, which happens once a quarter. The European Union 27 leaders meeting...

The British pound down on Thursday ahead of Bank of England monetary policy decision later today. The market participants expect the central bank will announce an increase in its asset purchase program by at least GBP 100 billion. EQUITIES Asian markets slipped on Thursday, Japan’s Nikkei 225...

The inflation in the UK fell to 0.5% in May – the lowest in nearly four years, the Office for National Statistics said in a statement. The core CPI eased to 1.2%, versus 1.3%. "Global prices for crude oil fell sharply from the beginning of 2020 before recovering throughout May, albeit to levels...

Important Wall Street earnings today: Oracle Corporation (NYSE: ORCL) and Groupon (NASDAQ: GRPN) will post earnings after the market closes on Tuesday. Oracle estimated to report quarterly earnings at $1.20 per share on revenue of $10.90 billion. While Groupon expected to report quarterly...