Market Commentaries

Yesterday, trading in the EUR/GBP cross rate was confined to a tight range near the recent lows. The EUR/GBP cross rate jumped higher upon the publication of the Minutes of the July BoE meeting. On the 5th of July, the Bank of England decided restart its asset purchase program by announcing an additional £50 billion […]

U.S. stocks rose for a second day after companies from Intel Corp. to Honeywell International Inc. reported profit that beat estimates and housing starts increased to the fastest rate in almost four years. Asian stocks rose, with the benchmark index headed toward its biggest gain in almost three weeks, after U.S. housing starts jumped to

Yesterday, the EUR/GBP followed largely the intra-day movements of EUR/USD, but at the margin sterling again did slightly better, as it set a new low. However, in a daily perspective, the price move was insignificant. EUR/GBP closed at 0.78529, marginally up from 0.7849 previously. The lower-than expected UK CPI was unable to leave its traces

Recently not much happened in the USD/JPY cross rate. Trading was confined to the 79.00 big figure, mostly with a cautiously negative bias. Global sentiment on risk remained fragile and core (US) bond yields were again on a downward path, reducing the incentive to look for yield pick-up from trades funded in the Japanese currency.

Gold recovered to close marginally higher in a quiet trading session, as weak US retail sales cut into the dollar’s gains ahead of Federal Reserve Chairman’s Congressional testimony which could provide the latest clue on monetary policies. Gold holdings  of SPDR gold trust, the largest ETF backed by the precious metal, declined to 1,266.11 tons,

Currently, oil futures prices are trading above $85.90/bbl with a marginal gain from yesterday’s closing. A large decline in crude oil stocks in the last week has made this spike in oil prices on yesterday. However, on the other side economic concerns due to lower demand and drops in growth forecast from major oil consuming

Currently oil futures prices are trading below $85/bbl with loss of more than 1.4 percent from yesterday’s closing. Oil prices have slipped from its high as import of its second largest consuming nation China have fallen by more than 15 percent in the month of June. Crude oil imports have declined from 25.48 million barrels

French financial activity contracted slightly in 2Q and is unlikely to actually get better in the near term, the Bank of Spain estimated Monday, mentioning the results of its monthly company analysis. The central financial institution confirmed its preceding prominence for a 0.one% National income dip in 2Q. Last 30 days, The National Statistics Institute