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Market News

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Financial Market News Feed

There’s no need to browse through a sea of information when you have this useful market tool

Having a personal trading news-feeds sure comes in handy, especially when you’re in a rush. Now, you can always stay updated, by using this handy Market News Feed. It can also be combined with our Economic Calendar to give you a better understanding of the economic events that move the markets.

The USD Into A Rising Path
2020-09-24 07:41UTC
The USD advanced during the European trading hours amid issues over the global economic recovery and possibility of a second-wave of Covid-19 infections.Presently, the USD versus the Euro trades at 0.85990000 EUR, which is very minor rise of only 0.00030000 (+0.03%) from the previous close of 0.85960000.The daily trading range is form 0.85510000 to 0.86520000, while the trading volume is 2.452K.Moreover, the USD Index, which measures the greenback against a basket of six other currencies, secured 0.1% at 94.505, around levels last seen two months ago.The USD is preserving its ground and there are some serious concerns over the economic recovery and  fragile amid rising Covid cases. The USD serves as a store value currency in this dynamic and partly insecure times.France also decided to tighten restrictions on social gatherings on Thursday, announcing a 10 PM curfew on bars and restaurants as well including other restrictions.
Gold Prices Further Decline
2020-09-24 06:39UTC
Gold prices further retreated this morning during the Asian hours with rising rate of the USD.The USD was boosted by the higher rate of the USD with advancing U.S. housing market, and issues over risk in other markets.Now, the yellow metal versus the USD trades at $1852.32, which is a loss of $10.08 or 0.54% from the previous close of 1862.40.The daily trading range is from $1848.89 to 1868.83, while the trading volume is 276.89K.There is a general decline in the European business activities, alongside issues expressed by U.S. state and U.S. Federal Reserve officials about the need for further economic measures.COVID-19 cases are still on a rally across Europe, with fears that some E.U. countries are now entering into a second wave.
Asian Daily Market Review
2020-09-24 02:13UTC
Markets across Asia are falling Thursday following the overnight rout on Wall Street that saw technology shares getting hammered lower once again. In coronavirus developments Europe continues seeing a rise in cases, while Johnson & Johnson became the fourth pharmaceutical company to announce phase three trials of a coronavirus vaccine. In Australia the S&P/ASX 200 is 1% lower, erasing much of the gains made in the previous session although it is off its lowest levels of the day. Shares of the big four banks are falling again too, with ANZ down 1.1%, NAB falling 0.5%, Commonwealth Bank dropping 1%, and Westpac trading 0.9% lower. In mainland China the Shanghai Composite has opened to a 1% loss, and the smaller cap Shenzhen Composite is trading 1% lower as well. Meanwhile in Hong Kong the Hang Seng is leading losses as it’s dropped 1.5%. Japan’s Nikkei is lower for a second consecutive session, losing 0.6% despite the Yen weakening against the U.S. dollar and providing some support for Japan’s export sector. Shares of Softbank Group are sliding 2.7% lower, while Sony is edging 0.1% lower and Toyota has a loss of 1.3%. In South Korea the Kospi continues to be one of the worst performing Asian markets as it’s trading down 1.5% today and adding to losses of 2.5% over the past two sessions. In Taiwan the Taiex has a 1.5% loss today as well. Southeast Asian markets are mostly lower today as well with Indonesia’s Jakarta Composite 1.4% lower, and Singapore’s Straits Times losing 1%, while the KLCI in Malaysia is edging up by less than 0.1%.
Natural Gas Prices Are On Fire
2020-09-23 21:11UTC
Natural gas, which was sitting at a seven-week low on Monday, has roared back Wednesday, adding 16% and closing above the closely watched $2.00 level. That puts the energy at a one-week high, leaving plenty of upside potential for prices going forward. Prices apparently found support from two directions at once. On the one hand the disruptions caused by maintenance and tropical storm Beta has impacted production, and on the other forecasts for colder weather have traders hopeful that demand will be rising in coming weeks. While tropical storm Beta has passed beyond the Gulf coast, flooding in its wake in the Houston area has greatly reduced the flow of natural gas. That pinching of supply comes as data shows U.S. production of natural gas is at a two-year low. That helped Wednesday’s rally, but is really a negative since the falling production is a function of congestion at storage facilities and a significant drop in demand for the resource. There is good news for the coming months however. Data also shows less than five U.S. cargoes being cancelled for loading in November, which should lead to production ramping back up to full capacity in October. Even with the 16% jump on Wednesday October natural gas futures are down 19% since the start of September as demand falters on the shift away from summer cooling demands. Winter is right around the corner though, and traders are preparing for a colder than usual winter, with prices for the December contract of natural gas trading at a premium of more than 50% against the October contract.
U.S. Daily Market Review
2020-09-23 14:56UTC
The main U.S. indexes are red with S&P-500 and the Nasdaq dropping.This comes as the numbers indicated in that the business activity fell down in September, while a record high for Nike following solid quarterly earnings reports.At 10:03 a.m. ET, the Dow Jones Industrial Average added 70.47 points, or 0.26%, at 27,358.65. On the other side, the S&P-500 slipped 2.26 points, or 0.07%, at 3,313.31, while the Nasdaq Composite dropped 46.23 points, or 0.42%, at 10,917.41.Stock price of Tesla Inc TSLA.O lost 5.4% after Chief Executive Officer Elon Musk failed to keep his promise to reduce electric vehicle costs at the much awaited "Battery Day" event on Tuesday.Oracle Corp ORCL.N also tumbled 1% after a the leading Chinese newspaper announced that Beijing is not expected to approve a proposed deal by the software maker and Walmart WMT.N for ByteDance's TikTok.
The GBP Into A Massive Retreat
2020-09-23 14:48UTC
The GBP extended its dropping pattern to a two-month bottom as the market is focused over the possibility of a new lockdown in the country.Presently, the GBP versus the USD trades at $1.2749, which is a very minor incline of $0.00188 or 0.15% from the previous close of 1.27302.The daily trading range is from $1.2675 to 1.2759, while the trading volume is 319.158K.Further stimulation to the downfall added Foreign Secretary Dominic Raab after reporting that he can’t rule out a nationwide shutdown. In the meantime, the government bonds advanced, sending the yield across tenors down about two basis points.Earlier today, Prime Minister Boris Johnson instructed new rules to curb the rally of the new coronavirus cases, including a 10 p.m. closing time for pubs and restaurants and a recommendation for office workers to work from home, in case that is possible.
European Daily Market Review
2020-09-23 10:14UTC
European markets are into a higher side today with shares in London leading the region. The FTSE-100 added 2.31%, in Paris CAC-40 gained 1.92% and Germany's DAX inclined 1.71%. The Stoxx Europe 600 index secured 1.1% to 361.58, after rising 0.2% on Tuesday. The euro EURUSD, -0.11% lost 0.1% versus the USD, while the pound was even weker GBPUSD, -0.09%, dropping 0.3%. Berlin agreed with Finance Minister Olaf Scholz’s draft budget for next year which envisages net new debt of 96.2 billion euros ($112.43 billion) to finance further measures to handle the issues resulted from the pandemic.Portugal’s budget deficit jumped to a whole 10.5% of its gross domestic product (GDP) in the second quarter of 2020. This compares to 2.2% versus last year due to the impact of the coronavirus pandemic, according to the official data from Wednesday.The National Statistics Institute also announced that the country is likely to mark a budget deficit of 7% of GDP in 2020 versus to the previous year.
Crude Oil Prices Dropped
2020-09-23 08:07UTC
Crude oil prices slipped more than 1% this morning after it was reported a prediction of an incline of the U.S. crude inventories.This is once again bringing in the issues over fuel demand that could result in a massive selloff earlier in the week.Now, oil trades at $39.719, which is another minor loss of $0.016 or 0.04% form the previous close of 39.735. The daily trading range is from $39.241 to 39.810, while the trading volume is 14.161K.Moreover, both fell little more than 4% on Monday, the most of the last two weeks.Furthermore, there are rising cases of coronavirus infections in countries including France and Spain. Additionally, London is very likely to introduce further restrictions. These worries are negatively affecting oil demand and prices.In the United States, where the victims of COVID-19 came above 200,000, crude oil inventories soared by 691,000 barrels in the week to Sept. 18.
Asian Daily Market Review
2020-09-23 02:19UTC
It’s a mixed day across Asia Wednesday morning, with Australia’s markets leading the way higher, and Japan falling after a four day holiday-extended weekend. The market movements come as investors react to the Federal Reserve chairman reiterating the resolve to support the economy with stimulus for as long as it takes. Australia’s S&P/ASX 200 is trading 1.7% higher, leading markets in the region. Shares of the big four banks are helping to lift the markets for once, with ANZ trading up by 1.7%, NAB rising 2.3%, Commonwealth Bank 2% higher, and Westpac adding 1.7%. Major miners are also adding to gains, with BHP 1.1% higher, while Rio Tinto is advancing 0.9%. In Japan investors have returned from a holiday-extended four day weekend to send the Nikkei lower by 0.7%. Continued strength in the Yen over the past week has caused sentiment to shift as Japan’s exporters profits fall when the Yen strengthens. Shares of Toyota are 0.1% lower as a result, and Sony is trading down 1.2%. In mainland China the Shanghai Composite is edging up by less than 0.1%, while the smaller cap Shenzhen Composite has a 0.2% gain. In Hong Kong the Hang Seng is also edging higher by less than 0.1%. South Korea’s Kospi gave up an early gain and is now trading 0.5% lower, adding to the 2% loss from the prior session. In Taiwan the Taiex has a 0.2% loss. Southeast Asian markets are also mixed with the Jakarta Composite in Indonesia advancing 0.9% and Singapore’s Straits Times Index 0.1% higher, while the KLCI in Malaysia has retreated 0.2%.
U.S. Daily Market Review
2020-09-22 21:20UTC
U.S. markets started Tuesday with troubles, but by the end of the session were solidly higher as investors shrugged off news of more than 200,000 deaths in the U.S. from the coronavirus. The battered technology sector took the lead, with the Nasdaq finishing the day 1.7% higher. Elsewhere the S&P 500 closed with a 1% advance and the Dow Industrials added 0.4%. The advance snapped a four session losing streak for the Nasdaq and S&P 500 and a three session slump in the Dow Industrials. That was the longest string of losses for the S&P 500 since February. Market bulls seemed able to finally shrug off worries over rising coronavirus cases across Europe, and political uncertainties at home in the U.S. Helping the market later in the day was the televised testimony of Fed chairman Jerome Powell and Treasury Secretary Steven Mnunchin before a House panel. Investors are worried that the mounting number of market risks will make it difficult for the markets to mount a true recovery, but as the old mantra goes “Markets climb a wall of worry.” And that could be the case from now through the U.S. elections in November. One thing that would certainly snap markets out of their malaise would be another round of stimulus, but as partisan tensions are rising to unprecedented levels it appears that is further away than ever. The Fed chairman during his testimony today told House leaders that it’s now up to them to provide stimulus for American businesses. In positive news U.S. existing home sales rose 2.4% in August to a 14-year high.
Cryptocurrency Daily Market Review
2020-09-22 21:03UTC
Cryptocurrency markets were able to reverse early weakness and finish higher, with Bitcoin adding 0.5% on the day. All of the other top ten altcoins also posted daily gains, which was a relief for cryptocurrency investors who have seen the altcoins hammered lower over the past several sessions even as Bitcoin remained fairly flat. The number two altcoin Ethereum edged up by 0.2%, but remains under the $350 handle. Number four altcoin Ripple was 0.3% higher and number five altcoin Bitcoin Cash advanced 0.4%. Coins tied to DeFi did best once again, with number six altcoin Polkadot gaining 3%, and number seven altcoin Binance Coin trading up by 2.6%. Overall it was a strongly bullish day as 80 of the top 100 altcoins ended the day in positive territory. The best gain of the day was an 18.3% advance in Ocean Protocol, a protocol that aims to help users unlock data, particularly for AI. The gains are coming after the project announced plans for it Ocean Shipyard program that will allocate up to 20 million Ocean Tokens over the coming years to help various initiatives and teams interested in building on the Ocean Protocol. The announcements also said the Shipyard program would provide the “unique opportunity to receive 1-on-1 support” from their team members. The worst loss of the day came from the Orchid Protocol, trading down 15.6%. Orchid is a peer-to-peer privacy network for users to buy and sell bandwidth, browse privately, and access content irrespective of geography. The drop is coming after Orchid chose Chainlink to provide an oracle service that samples bandwidth pricing.
How Can HSBC Recover From 2020?
2020-09-22 19:00UTC
After plunging over 5% Monday to its lowest level in 25 years, shares of HSBC edged lower on Tuesday, falling 0.3% in London trade. The stock, and several other banks such as Barclay’s, Standard Chartered, and Deutsche bank, tanked on Monday following allegations that banks allowed questionable transactions potentially linked to money laundering to go through over the past several years. HSBC is already suffering this year due to plunging profits, a global recession, ongoing political protests in Hong Kong, and U.S.-China tensions. And in addition to the money laundering allegations China has also said this past weekend that HSBC might end up on a list of entities that could face restrictions on doing business in China. It’s fear of the unknown that can hammer stocks, and at the moment little is known about the future prospects for HSBC. Even as shares hit a 25 year low they are under the threat of further declines on these uncertainties. HSBC was founded in Hong Kong and has long made excellent profits by bridging East and West, but the rising tensions between the U.S. and China have threatened to put an end to that as China looks to potentially sanction the business activities of HSBC. With 80% of the banks’ profits coming from its business in Asia last year such a move could be a blow the bank can ill afford. In regard to the money laundering claims HSBC declined comment, but did say it is a much safer bank than it was in 2012 when it pair $1.9 billion to U.S. regulators to resolve money laundering allegations.
European Daily Market Review
2020-09-22 16:19UTC
Markets across most of Europe closed higher on Tuesday attempting a recovery from the losses suffered Monday in response to the rising number of coronavirus cases across the continent and the bank scandals that hurt the financial sector. On Tuesday the oil and gas sector led the gains in the region, rising 1.7% as a while, while the insurance sector slumped 1.2% lower to lead losers. The pan-European Stoxx Europe 600 was up by 0.2%, which was a scant recovery from the 3.2% drop registered the day before in which the banking sector fell 5.7% and the travel sector dropped 5.2%. Investors are worried that the rising number of coronavirus cases will cause European governments to re-impose restrictions on travel and leisure activities. On Tuesday in Germany the DAX rose 0.4%, but the CAC 40 in France fell 0.4%. Meanwhile Italy’s FTSE MiB was 0.5% higher and the IBEX 35 in Spain fell 0.7%. Meanwhile in the U.K. the FTSE 100 finished the session 0.4% higher, despite the fact that coronavirus cases in the country are now back to their highest levels since May. That gain comes the day after the FTSE posted a 3.4% loss in response to the rise in COVID-19 cases, combined with allegations that HSBC, Barclay’s and Standard Chartered banks were all involved with global money laundering over the past several years. Shares of HSBC were 0.3% lower Tuesday after falling 3.4% on Monday. Shares in Hong Kong overnight fell 5% to a 25-year low. At the same time Standard Chartered was 1.7% higher Tuesday after falling more than 3% on Monday.
Asian Daily Market Review
2020-09-22 02:44UTC
Markets all across Asia are trading lower Tuesday morning following another overnight rout on Wall Street. A stronger U.S. dollar is also contributing. Japan’s markets are closed for a second consecutive session as they celebrate a national holiday. In mainland China the Shanghai Composite has opened to a 0.6% loss, while the Shenzhen Composite has erased an early gain and trades 0.1% lower. Meanwhile Hong Kong’s Hang Seng is trading 0.6% lower as shares of HSBC and Standard Charter fall for a second day in the wake of allegations they both participated in money laundering. HSBC shares are 2.7% lower, while Standard Chartered shares are down 2.4%. Australia’s S&P/ASX 200 is trading 0.9% lower as its big four banks continue falling and dragging the broader market along. Shares of ANZ have lost 2% today, NAB is trading 2.4% lower, Commonwealth Bank is outperforming with a 1.2% loss, and Westpac shares have fallen 2%. The major miners are also deep in the red today with BHP down 2.1%, Rio Tinto off by 3.2%, and Fortescue Metals losing 3.3%. Among the gold miners Evolution Mining is trading down 3.8%, and Newcrest Mining has a 2.5% loss. In South Korea the Kospi is the worst performing index in the region as it has a loss of 1.7%, although market heavyweight Samsung is trading just 0.7% lower. Meanwhile in Taiwan the Taiex has a loss of 0.9%. In Southeast Asia markets are mixed as Malaysia’s KLCI is bucking the falling trend and rising 0.4% today. The Straits Times in Singapore is 0.6% lower, and Indonesia’s Jakarta Composite has dropped 1.5%.
Gold Settles Below 50-Day Moving Average
2020-09-21 22:56UTC
Gold prices fell 2.6% Monday to a two-month low as the U.S. dollar shot higher in response to the rising political turmoil in the U.S., combined with a spike in European coronavirus cases that stoked fears of another shutdown across the region. Adding to the risk off sentiment that boosted the USD was a continuing selloff in equity markets. Gold is usually considered a haven in uncertain and unsettling times, but that often has not been the case since the coronavirus pandemic began. Instead investors are flocking to the U.S. dollar for safety, and that’s led to a battering of gold prices on Monday. The U.S. dollar rose 0.8% on Monday, pushing gold to close at $1,910.60 an ounce, well below its 50-day moving average of $1,941.78 an ounce. And that has some analysts wondering if the pendulum has swung in favor of the bears for the time being. In favor of gold bulls was the bounce off the daily lows, which allowed gold to finish above the psychologically important $1,900 level, and more importantly above the key technical level of $1,897.37 an ounce. If that level is broken we could see a significant move to the downside. That said, the type of political turmoil that’s caused Monday’s move is often short-lived and once passed markets return to their former levels. If that’s the case here we could see a solid rally in gold prices as we head into October. It also means the current dip in prices might be giving investors a great opportunity to get into gold before it moves substantially higher.
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