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Daily market overview – 10/08/2016

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  • The intensification of the conflict between the USA and China leads to reduction of oil prices The energy market has started the trading session rather unsuccessfully. The next round of the trade war between the States and China caused the price fall. Because of this investors...
  • Germany saves Lufthansa An air carrier Deutsche Lufthansa AG has suffered losses because of the spread of the coronavirus pandemic. It became known that the German government had not left the matter unattended...
  • Israel economy sets anti-records Israel is a recognized high-tech paradise, a stable and strong platform for business development. However, the economy of the country in the Middle East has failed to resist the consequences...
  • A car rental service Hertz went bankrupt Hertz, the largest US car rental company, has filed for bankruptcy. The company was founded already in 1918. For a hundred years, Hertz has coped with the Great Depression, the...
  • Monday starts with the growth of oil prices The energy market started today’s trading session with the steady growth. Quotes are increasing on the signals about the recovery in demand and a decrease in production in the States....

Daily market overview – 10/08/2016

Daily market overview – 10/08/2016
August 10
10:00 2016

The dollar moved lower against other major currencies on Tuesday, but remained supported by Friday’s strong U.S. jobs report, while investors turned their attention to Friday’s U.S. retail sales data for further indications on the strength of the economy.

GBP/USD has fallen below 1.30 U.S for the first time in almost a month. This has happened because investors prepared for the data that wiould give further clues on the state of the UK economy in the wake of the decision to withdraw from the European Union. Britain’s currency has been dropping for the fifth day in a raw. The sterling has been suffering its longest losing streak since May after the Bank of England cut interest rates for the first time.

Gold has been rising up 1355 USD for a second day on Wednesday as investors sought hard assets amid a drop in the dollar after a report of weaker U.S. economic data. There are increased expectations that the Federal Reserve will not raise interest rates in the short-term.

Key Market data Wednesday – August 10 th 14:30 – USD: Crude Oil Inventories

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