Forecasts & Analysis |

AMD has completed a cup and handle breakout pattern following a 3-month consolidation at the 2020 high.

“The COVID-19 related collapse in earnings is expected to be reversed slowly as the economy re-opens and the recovery matures into expansion in 2021. These bottoms-up earnings estimates and our assessment of the nature of the recovery has caused us to revise upwards our year-end target to 3400,” said Mizuho

Major global oil players led by oil juggernaut, Saudi Arabia had lately been pushing other oil-producing countries in increasing their production of crude oil from next month

An index tracking the performance of leading commodities reached a four-month high this week with the sector being supported by gains among industrial metals and grains, most noticeably wheat and copper. Gold meanwhile made a small but nevertheless very important move higher to the highest level since 2011 above $1800/oz.

The rising COVID-19 count is making investors nervous, driving them into Treasurys, which is pushing yields lower, and gold higher.

Demand and Supply in 2019 were records

Gold prices moved lower consolidating for the second consecutive session after hitting a fresh 8-year high on Wednesday. For the week gold prices where higher by 1.25%.  The dollar moved lower on Friday following a softer than expected US PPI report. The 10-year US treasury yield dropped sharply declining below

USD/CAD made an attempt to get above the 20 EMA but failed to develop additional upside momentum.

Oil rebounds back to the key $40 level after Gilead Sciences reports promising data on COVID-19 drug.

Carlsberg said its business in China rebounded strongly and western European region saw an improved demand towards the end of the second quarter due to the gradual reopening of the on-trade channel and subsequent restocking in many markets, sending its shares up nearly 6%.