October 7, 2020 7:11 am
NZD/USD was trading in proximity to one-week lows on Wednesday, following its steepest single-day drop since September 23rd on Tuesday, as market sentiment took a hit after US President Trump’s decision to call off talks on fiscal stimulus with Democrat lawmakers. Trump, who is still under treatment for COVID-19, surprised markets on Tuesday by calling […]
Read moreOctober 6, 2020 11:33 am
Exxon Mobil Corp (XOM) revealed on Monday plans to cut its workforce in Europe by up to 1,600 across its affiliates by the end of next year as part of a global restructuring. Exxon Mobil shares closed higher for the fourth time in the past ten trading sessions in New York on Monday. The stock […]
Read moreOctober 6, 2020 9:10 am
Futures on US West Texas Intermediate Crude Oil extended gains from the prior trading day on Tuesday as another tropical storm was forming in the Gulf of Mexico and posed a threat to oil facilities there, while markets were also relieved by news of US President Trump’s discharge from hospital. Yesterday WTI Crude Futures registered […]
Read moreOctober 6, 2020 7:08 am
AUD/USD erased earlier gains on Tuesday, as in spite of a softer US Dollar, the prospects of further monetary stimulus by the Reserve Bank of Australia weighed on the Aussie. The pair briefly advanced above the 0.7200 mark, after the RBA left the cash rate without change at a record low level of 0.25% at […]
Read moreOctober 5, 2020 9:12 am
Spot Gold was edging lower on Monday due to optimism regarding US President Donald Trump’s COVID-19 treatment, which weighed on demand for the safe harbor precious metal. Last week Trump was flown to the Walter Reed National Military Medical Center near Washington DC for treatment after testing positive for COVID-19. Global risk sentiment received a […]
Read moreOctober 5, 2020 7:17 am
Chevron Corp’s (CVX) division in Nigeria said over the weekend that it intended to reduce local workforce by 25%, as it seeks to cut costs amid weak global demand for oil. Last month the International Energy Agency revised down its full-year projection on oil demand internationally. Chevron shares closed higher for the fourth time in […]
Read moreOctober 2, 2020 11:58 am
PepsiCo Inc (PEP) said on Thursday that it would consider a move into alcoholic beverage business, two days after its competitor Coca-Cola Co announced plans to introduce an alcoholic sparkling water on the US market in 2021. PepsiCo shares closed higher for a second consecutive trading session on NASDAQ on Thursday. The stock went up […]
Read moreOctober 2, 2020 9:26 am
Futures on US West Texas Intermediate Crude Oil extended losses from the prior trading day on Friday, while hitting a fresh 2 1/2-week low, as reports emerged that US President Trump had tested positive for COVID-19. Additionally, fuel demand concerns continued to persist with no US fiscal stimulus deal in sight yet. Risk sentiment soured, […]
Read moreOctober 2, 2020 7:00 am
NZD/USD eased from Thursday’s one-week high and looked set to snap a five-day streak of gains on Friday, as risk sentiment dampened following reports that US President Trump tested positive for COVID-19. In a tweet, Trump said that he and first lady Melania would enter quarantine after Hope Hicks, a senior advisor who had recently […]
Read moreOctober 1, 2020 11:33 am
Tesla Inc (TSLA) slashed the starting price of its Shanghai-produced Model 3 sedans on Thursday by nearly 8% to 249,900 yuan ($36,800*), after state purchase subsidies, the US company stated on its China website. Previously, China-made Model 3 sedans with a standard driving range were priced at as low as 271,550 yuan. Tesla shares closed […]
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