Home prices in the United States rose during September, according to recent data. The S&P CoreLogic Case-Shiller National Home Price Index surged by 7% during the fiscal year that ended in September, up from a 5.8% annual rate in August. This is the highest annual rise in the index since …
Read More »Mark Carney Takes the Helm: Canada’s New PM Faces Trump and Global Trade Challenges
Newly-appointed Canadian Prime Minister Mark Carney officially assumed office on Friday morning, suc…
Oil Gains Amidst Geopolitical Tempest and Shifting Demand Forecasts
Despite a week dominated by fluctuating geopolitical tensions and evolving economic forecasts, oil p…
Fresh Deadline Drama: Senate Poised to Avert Shutdown
Funding Bill on the Brink of PassageThe Senate is set for a pivotal test vote this afternoon on the …
PPI Shadowed: GBP/USD Wobbles Amid GDP Shock and Surging US Inflation Fears
The Pound Sterling (GBP) faced renewed pressure against the US Dollar (USD) this week, with GBP/USD …
Changpeng Zhao Denies Ties of Trump Family Ties and Binance Amid Controversy
Changpeng Zhao (CZ), the founder and former CEO of Binance, the globe’s largest cryptocurrency…
Gold Shatters $3,000 Barrier: Historic Safe-Haven Surge Amid Global Uncertainty
In a landmark moment, gold prices surged past the $3,000 per ounce threshold on Friday, marking an a…
Bristol Myers Squibb Gains Expanded EU Approval for CAR-T Therapy Breyanzi
The European Commission has granted Bristol Myers Squibb (NYSE: BMY) an expanded approval for its CA…
Forex Market Overview: Yen Weakens, Pound Slips, Dollar Recovers
The Japanese yen weakened on Friday after concluding union wage negotiations, while the British poun…
Oil Prices Rebound as Ukraine Conflict Persists, Trade War Concerns Loom
Oil prices bounced back on Friday, recovering some of the previous session’s losses, as the Uk…
Gold Prices Hold Near Record Highs Amid Trade Tensions, Rate Cut Expectations
Gold prices remained steady at all-time highs in Asian trading on Friday, driven by escalating U.S.-…
Market Analysis
November, 2020
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26 November 2020 12:20 am
US Consumer Spending Rises While Incomes Decline
Household spending in the United States increased more than what was expected during the month of October, data by the US Department of Commerce showed on Wednesday. Purchases increased by 0.5% on a monthly basis, after rising by 1.2% in September. Meanwhile, personal incomes declined by 0.7%.
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25 November 2020 10:54 pm
European Stocks Close Nearly Unchanged
European stocks closed Wednesday nearly unchanged, after achieving recent gains on restored political certainty in the US and positive news about Coronavirus vaccines, despite the surge in new cases and lockdown measures across the continent. The STOXX Europe 600 index finished marginally lower by 0.056%. In the UK, the FTSE100 …
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25 November 2020 9:17 pm
US Crude Oil Inventories Decline Unexpectedly
Crude oil inventories in the United States declined last week, against market expectations, data by the U.S. Energy Information Administration (EIA) showed on Wednesday. A decline of 800,000 barrels in the week that ended on November 20 means that crude stockpiles now stand at 488.7 million barrels. Meanwhile, gasoline inventories …
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25 November 2020 6:06 pm
US: Trade Deficit Widens to $80.3 Billion in October
The United States’ goods and services deficit rose by $0.9 billion to $80.3 billion in October from $79.4 billion in September, the data published jointly by the US Census Bureau and the US Bureau of Economic Analysis showed on Wednesday.
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25 November 2020 5:47 pm
US Initial Jobless Claims Climb to 778K
There were 778,000 initial claims for unemployment benefits in the US during the week ending November 21, the data published by the US Department of Labor (DOL) revealed on Wednesday. This reading followed last week’s print of 748,000 (revised from 742,000) and came in worse than the market expectation of …
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25 November 2020 5:47 pm
US Real GDP Expands by 33.1% in Q3
The United States’ Real Gross Domestic Product (GDP) expanded at an annual rate of 33.1% in the third quarter, the US Bureau of Economic Analysis’ second estimate showed on Wednesday. This reading matched the initial estimate but came in lower than the market expectation of 33.2%.
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25 November 2020 5:46 pm
US: Durable Goods Orders Rise by 1.3% in October
Durable Goods Orders in the United States expanded by 1.3%, or $3 billion, on a monthly basis to $240.8 billion in October following September’s increase of 2.1% (revised from 1.9%), the US Census Bureau reported on Wednesday. This reading beat the market expectation of 0.9%.
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25 November 2020 5:44 pm
UK PM Johnson: We’ll Only be Able to Make Progress if EU Accepts We Need to Control Waters
British Prime Minister Boris Johnson reiterated on Wednesday that the UK’s position on fisheries hasn’t changed. “We’ll only be able to make progress in the European Union accepts we need to control waters,” Johnson added. “The government is taking tough decisions now to allow the economy to bounce back.” Johnson …
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25 November 2020 3:55 pm
ECB Warning That Bank Profits Will “Remain Weak” Throughout The Next Year
The European Central Bank warned in its latest review of financial stability that European banks will not see profits return to pre-pandemic levels before 2022. Euro-zone lenders have struggled to make big profits over the past decade in the wake of the 2008 global financial crisis, with stronger regulatory scrutiny …
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25 November 2020 3:19 pm
China’s Imports of Crude Oil Decreased by 4% From Russia And by 30% From Saudi Arabia
Russia and Saudi Arabia continued to lead suppliers of crude oil to China in October, but the quantities received from the two countries decreased compared to September levels as Chinese refineries curbed purchases of crude. According to data from the General Administration of Customs of China today, Wednesday, imports from …
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25 November 2020 2:20 pm
Dollar Declining as Investors Seek High-Risk Assets
The dollar suffered losses on Wednesday, November 25, due to progress in developing a vaccine for the Coronavirus and expectations of financial support from the new US government that led to the transfer of funds from the dollar to high-risk assets. The US currency recorded its lowest level in two …
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25 November 2020 1:38 pm
Gold Declining as WH Begins Transition Process
Gold fell on Wednesday, November 25, with the start of the official transition process for Joe Biden to the White House and optimism about vaccines for the Coronavirus, which reduces the appeal of gold as a safe haven. Gold spot fell 0.1% to 1805 dollars an ounce by 06:48 GMT. …
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