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. …
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
-
25 November 2020 1:10 pm
European Stocks Rise in Support of Easing And Vaccine Hopes
European stocks held near their nine-month highs on Wednesday, November 25, as sentiment remained high, supported by an easing of restrictions linked to the Coronavirus in the region and growing hopes that a vaccine would soon be ready. The European Stoxx600 index rose 0.3%, as banking services stocks rose 1.6% …
Read More » -
25 November 2020 12:35 pm
Oil Rising on Increasing Optimism About Vaccine
Oil rose for the fourth session in a row on Wednesday, November 25, as the market ignored a report by the sector that showed that US crude stocks rose more than expected, continuing this rise supported by hopes that a vaccine for Covid-19 would support oil demand. By 0616 GMT, …
Read More » -
25 November 2020 4:05 am
How is in the Next Biden Administration?
President-elect of the United States, Joe Biden, has vowed to choose a diverse cabinet that represents all Americans. After a lot of anticipation and expectations, we are finally getting to know some of the names that he will nominate to his cabinet. Janet Yellen The first chairwoman of the US …
Read More » -
25 November 2020 3:45 am
US Treasury Yields Rise on Improved Outlook
Treasury yields in the United States rose on Tuesday, due to increased risk appetite and an expected smooth transition in the White House. Return on the 10-year Treasury notes went up by 2.4 basis points to 0.881%. The 30-year bonds yield rose by 4.1 basis points to 1.603%. Meanwhile, the …
Read More » -
25 November 2020 2:28 am
Oil Finishes at Highest Level in About Nine Months
Oil prices continued to rally on Tuesday, achieving big gains to finish near its highest level since early March. Brent crude futures for January delivery surged by $1.80, or 3.9%, to close at $47.86 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures for January delivery soared by $1.85, …
Read More » -
24 November 2020 11:00 pm
Gold Prices Fall for Second Day in Row
Gold prices continued to make big losses on Tuesday, for the second consecutive session, amid improved risk appetite and aversion from safe havens, on the back of positive news about Coronavirus vaccines. In addition, an expected smooth transition in the US administration from the incumbent president to the president-elect helped …
Read More » -
24 November 2020 10:42 pm
USD Declines amid Increased Risk Appetite
The US Dollar (USD) is declining across the board on Tuesday, on the back of higher risk appetite that comes supported by recent positive news about Coronavirus vaccines. The Dollar index (DXY), which measures the USD performance in front of a basket of six major international currencies, is down by …
Read More » -
24 November 2020 10:39 pm
European Stocks Close Higher
European stocks closed Tuesday higher, supported by an improved risk appetite and positive news about Coronavirus vaccine candidates. The STOXX Europe 600 index rose by 0.83%, to finish at 392.05 points. The UK’s FTSE100 increased by 1.55%, while the German index DAX gained 1.26%. Meanwhile, the French index CAC40 settled …
Read More » -
24 November 2020 9:30 pm
Dow Hits New All-Time High
The Dow Jones Industrial Average index surged on Tuesday, supported by gains by major stocks listed on the New York Stock Exchange (NYSE), or Wall Street, as well as the beginning of the transition from the Trump administration to that of President-elect Joe Biden. The index broke the 30,000-point mark …
Read More » -
24 November 2020 8:08 pm
US Consumer Confidence Declines in November
The Conference Board’s index of consumer confidence in the United States declined to 96.1 in November, down from a revised reading of 101.4 in October, data showed on Tuesday. This comes as the rising number of new Coronavirus cases across the states pushed down consumer confidence. “Heading into 2021, consumers …
Read More » -
24 November 2020 6:36 pm
Richmond Federal Reserve Manufacturing Index Falls to 15
The Federal Reserve Bank of Richmond’s Manufacturing Index declined in November, data showed on Tuesday. The index dropped to 15 from a previous reading of 29 in October. However, the index remained firmly in expansionary territory, as all three component indexes — shipments, new orders, and employment — had positive …
Read More » -
24 November 2020 5:42 pm
US: Philly Fed Nonmanufacturing Index slumps to 5.3 in November
The headline Diffusion Index of the Federal Reserve Bank of Philadelphia’s Nonmanufacturing Business Outlook Survey fell sharply to 5.3 in November, the lowest reading since June, from 25.3 in October, the monthly data showed on Tuesday.
Read More »