DAILY MARKET REPORT

DAILY MARKET REPORT

OPEC+ countries agreed to curtail crude production by an additional 9.7 million bpd during May and June. The biggest oil cut ever is more than four times deeper than the previous record cut in 2008. OPEC+ sources said they expected total global oil cuts to amount to more than 20 million bpd, or 20 percent...
DAILY MARKET REPORT

DAILY MARKET REPORT

Today’s OPEC+ meeting is set to take place via video conference at 16:00 Vienna time (15:00 GMT). But we are not sure the final deal to be announced today. According to latest news reports, OPEC+ countries could agree to curtail crude production by anywhere between 10 and 15 million bpd even as the coronavirus pandemic...
DAILY MARKET REPORT

DAILY MARKET REPORT

Eurozone finance ministers failed to agree in all-night talks on more support for their coronavirus-hit economies. European stocks reversed after the Eurozone failed to achieve a deal on a stimulus package and sending shorter-dated Italian yields spiking higher. Euro group chairman Mario Centeno said on Wednesday morning he was suspending the discussions until Thursday. Italy’s...
DAILY MARKET REPORT

DAILY MARKET REPORT

The gold price rallied to above $1670 an ounce, U.S. Indices breaking higher, Crude oil prices bounced 10% after U.S. President Donald Trump intervention to end the oil price war between Saudi Arabia and Russia. So trade from home during this quarantine. Stay home and trade with Gulf Brokers. EQUITIES Asian markets rallied for a...
DAILY MARKET REPORT

DAILY MARKET REPORT

The pound recovered from a slight dip overnight against the dollar on Monday as UK Prime Minister Boris Johnson was expected to be returning to his office “shortly” after being hospitalised with persistent novel coronavirus symptoms on Sunday night. So far, Britain has confirmed over 47,000 cases of coronavirus while the number of dead has...