Archives of “August 2020” month

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Laura strengthens into a hurricane

  
  Analysis

Storm hits warm gulf waters

Storm hits warm gulf waters
As anticipated, tropical storm Laura has now strengthened into a category 1 hurricane. The storm now has maximum sustained winds of 120 km/h.
The storm is expected to continue to intensify over the warm open waters in the gulf of Mexico as it heads towards landfall on Wed-Thurs. Its latest forecast track is further to the west than previously.
“Now that an inner core appears to be trying to form, conditions appear ripe for at least steady intensification, and rapid intensification is becoming more likely before landfall,” the NHC said in its latest advisory. “In fact, almost all of the explicit guidance models, save the statistical-dynamical models, are showing a period of rapid strengthening at some point during the next couple of days.”
Much of the US offshore production has now shut down, along with refineries on the coast.

EuropeFX: Everything you need to know about CFDs trading

  
  Analysis
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What you need to know about trading CFDs

EFX
Contracts-for-difference (CFDs) are popular trading instruments that provide investors with unique potential opportunities to profit in specific markets. This includes taking advantage of certain assets price movement, without actually owning the asset itself.

Thousands of CFDs exist, which are now a common fixture amongst brokerages’ offerings. CFDs are quite simplistic, as profit is calculated as the difference between the entry point of the trade and its exit point.

Popular types of CFDs

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Germany Q2 final GDP -9.7% vs -10.1% q/q prelim

  
Analysis, Economy
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Latest data released by Destatis – 25 August 2020

  • Non-seasonally adjusted GDP -11.3% vs -11.7% y/y prelim
  • Working day adjusted GDP -11.3% vs -11.7% y/y prelim
  • Private consumption -10.9% vs -9.8% q/q expected
  • Prior -3.2%; revised to -2.5%
  • Government spending +1.5% vs +1.5% q/q expected
  • Prior +0.2%; revised to +0.6%
  • Capital investment -7.9% vs -12.2% q/q expected
  • Prior -0.2%; revised to -0.5%
Slight delay in the release by the source. The preliminary report can be found here.
The German economy shrank by slightly less than initially estimated, but it still is the biggest quarterly contraction on record amid the fallout from lockdown measures and the virus outbreak in general from April to June.
There was a heavy drag on consumption/spending but that is largely unsurprising and that contributed to the sharp decline in economic activity seen last quarter.

Nikkei 225 closes higher by 1.35% at 23,296.77

  
Analysis, Global Indices

Equities are buoyed by positive US-China vibes

Nikkei 25-08
The Nikkei is ending the day off earlier highs, but still closes at its highest level since February as equities are in a more positive mood following the more constructive remarks surrounding US-China trade talks earlier in the day.
Chinese stocks bucked the trend though, with the Hang Seng seen down by 0.5% alongside the Shanghai Composite as well. But US futures are higher by ~0.4% currently.
In the currencies space, there are some mixed tones with the dollar slightly weaker against the euro and pound but keeping in more narrow ranges against the rest of the bloc. USD/JPY is little changed, sitting around 106.00 as we get the session underway.
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