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Market Analysis

December, 2020

  • 18 December 2020 2:46 am

    Wall Street Closes at New Record Highs

    The New York Stock Exchange (NYSE) closed Thursday at new record highs, supported by hopes for a new stimulus package in the United States, with Wall Street maintaining an upbeat sentiment on vaccine rollout. This comes following the last Federal Reserve meeting of the year, in which the American central …

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  • 18 December 2020 1:33 am

    Oil Maintains Gains for Fourth Day in Row

    Oil prices finished higher on Thursday, maintaining their best level in about nine months, supported by positive news about the rollout of Coronavirus vaccines. Today marked the fourth consecutive daily gain for crude futures, amid anticipation for a new stimulus package in the United States. Brent crude futures for February …

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  • 18 December 2020 1:19 am

    Gold Rises as USD Declines

    Gold prices rose on Thursday, amid a strong decline by the US Dollar (USD) after the release of the Federal Reserve policy statement, which vowed to continue easing the monetary policy. Gold futures for February delivery added $31.30, or 1.7%, to close at $1,890.40 per ounce. The yellow metal futures …

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  • 17 December 2020 9:21 pm

    European Stocks End Thursday in Green

    European stocks closed higher on Thursday, one day after the United States Federal Reserve vowed to maintain its policy in support of the economy in the face of the Coronavirus crisis. The pan-European STOXX 600 index finished higher by 0.4%, supported by a strong performance by the majority of market …

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  • 17 December 2020 8:00 pm

    Employment in Canada Rises in November: ADP

    Employment in Canada increased by 40,800 jobs in November up from its level in October, as shown by the November ADP Canada National Employment Report on Thursday.

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  • 17 December 2020 7:05 pm

    US Housing Starts and Building Permits Increase

    Housing starts and building permits in the United States increased during November, signaling the strength of the housing market, data by the US Department of Commerce showed on Thursday. Housing starts increased by 1.2% to a seasonally adjusted annual rate of 1.547 million units in November. On an annual basis, …

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  • 17 December 2020 5:44 pm

    US: Weekly Initial Jobless Claims Rise to 885K

    There were 885,000 initial claims for unemployment benefits in the US during the week ending December 12th, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed last week’s print of 862,000 and missed the market expectation of 800,000 by a wide margin.

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  • 17 December 2020 5:09 pm

    BioNTech: About 140,000 Britons Have Received The Covid-19 Vaccine so Far

    Ozlem Tureci, the chief physician at BioNTech, said that about 140,000 people in Britain had received the vaccine, which the company manufactured in cooperation with the American Pfizer, to prevent Covid-19 disease, adding that the evaluation of side effects and tolerance is reassuring. Britain was the first country to agree …

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  • 17 December 2020 4:17 pm

    BoE Leaves Policy Rate And QE Unchanged in December as Expected

    The Bank of England’s (BoE) Monetary Policy Committee (MPC) decided to leave the benchmark interest rate unchanged at 0.10% at its December policy meeting and kept the Asset Purchase Facility steady at £895 billion.

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  • 17 December 2020 4:09 pm

    Dollar Falls as Demand for safe-haven Weakened And Pound, Franc Drops After Touching Highest Level

    The dollar hit its lowest level in two and a half years against major rival currencies on Thursday (December 17th), as risk appetite was boosted by progress towards agreement on a stimulus package in the United States and an accord linked to Britain’s exit from the European Union. On Wednesday, …

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  • 17 December 2020 3:12 pm

    Investor Interest Raises in Bitcoin Above $23,000

    Bitcoin rose to a record high one day after it crossed the $20,000 mark for the first time, amid growing interest in it from major investors. The world’s most prominent cryptocurrency jumped 10.5% to 23,655 dollars, to exceed its gains this year 220%, supported by a request from large investors …

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  • 17 December 2020 2:30 pm

    European Stocks Rise For a Fourth Session on Optimism

    European shares remained at their highest level in ten months Thursday, December 17th, as hopes for more stimulus in the United States and possible distribution of COVID-19 vaccines in Europe boosted expectations for a global economic recovery. The German DAX index rose 1.1% to reach its highest level since February, …

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  • 17 December 2020 1:52 pm

    Gold Rising as US Dollar Was Negatively Affected by The Progress of The US Stimulus

    Gold prices reached a week high on Thursday, December 14th, as progress in reaching an agreement on fiscal stimulus in the United States pressed the dollar, while the yellow metal received more support thanks to the US Federal Reserve’s pledge to keep interest rates low until the economy recovers. In …

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