Covid-19 could be good for Gulf equities
Trading volumes at the Abu Dhabi Securities Exchange (ADX) fell by over a quarter in the first half of 2020 as the coronavirus pandemic hit activity. However, a listing from national energy company Taqa and several initiatives to encourage new...
Gold surges to record close as U.S.-China tensions escalate and coronavirus concerns rise
Leonhard Foeger | Reuters Gold prices rose to an all-time high Friday as investors sought safety in the precious metal amid rising U.S.-China tensions and lingering fears over the coronavirus pandemic. The metal’s August futures contract rose 0.4% to settle...
Executives are selling stock as the market experiences its epic rebound
Laurence “Larry” Fink, chairman and chief executive officer of BlackRock. Chris Goodney | Bloomberg | Getty Images Company insiders are dumping shares as stocks experience their epic rebound from the coronavirus recession. The sales are a major shift from the...
Individual investors are a ‘big part’ of the market over last few months, NYSE president says
NYSE President Stacey Cunningham said Friday that individual investors have participated in a big way during the market’s record rally that’s seen the S&P 500 jump 48% from its March 23 low. “The retail investor has been a big part...
Iran FX rate seen unlikely to reverse course without revival of deal with US
Iran’s official exchange rate as of July 17 was just over 42,000 rials to the dollar. This rate, however, is subsidised by the Iranian government and reserved for humanitarian imports. Imports of other essential products use the Integrated Forex Deals...
Week Ahead – Fed Meets as Virus Storm Worsens; US and Eurozone Set for Historic GDP Collapse
As US politicians squabble over the next fiscal stimulus bill and the country’s virus death toll ticks up again, markets may lean on the Federal Reserve next week for a quick fix. The Federal Open Market Committee (FOMC) meeting will...
Goldman Sachs agrees to $3.9 billion deal with Malaysia to settle criminal probe into 1MDB scandal
Copies of the Financial Daily newspaper featuring a front page report on Goldman Sachs Group Inc. are displayed for sale at a stand in Kuala Lumpur, Malaysia, on Tuesday, Dec. 18, 2018. Nadirah Zakariya | Bloomberg | Getty Images Goldman...
USD Index Outlook: Dollar Index Hits New 2020 Low
Pressure on dollar is rising as bears eventually cracked key short-term support at 94.59 (2020 low, posted on 9 March). Steep fall of past six days points to bearish acceleration, as the index is heading towards sixth consecutive week in...
USD/CAD Steady ahead of Manufacturing PMI
It has been a sleepy Friday for USD/CAD. Currently, the pair is trading at 1.3425, down 0.13% on the day. There are no Canadian events on the schedule. US Manufacturing PMI eyed US manufacturing has been hit hard in the...
European Majors Supported By Strong PMIs, Risk Aversion Continues
Yen and Swiss Franc are trading as the strongest ones for today as stock markets are weighed down by escalating US-China tensions. Though, negative sentiments in Europe was partly offset by much stronger than expected Eurozone and UK PMIs. Signs...