A survey showed that British retail sales recorded the biggest drop since June this month under isolation measures in most parts of the country, but the decline was less than most economists feared, as online sales absorbed part of the decline. The Confederation of British Industry said its index of …
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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24 November 2020 3:43 pm
Turkish Lira Down 2% Against US Dollar
The Turkish lira fell by up to 2% to more than 8 lira against the dollar on Tuesday, November 24, to continue its losses this week as investors exploited a strong recent rise to form positions of currencies and gold. The pound fell to 8.05 against the US currency, compared …
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24 November 2020 3:18 pm
Bitcoin Crosses $19,000 For The First Time Since December 2017
Bitcoin hit $19,000 on Tuesday, November 24 for the first time in nearly three years, and is close to reaching an all-time high of just under $ 20,000. The world’s most popular cryptocurrency increased about 160% this year, supported by demand for riskier assets amid unprecedented fiscal and monetary stimulus …
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24 November 2020 2:31 pm
AUD and EUR Rise With The Start of Transition Process
Riskier currencies like the Australian dollar surged on Tuesday (November 24th) after US President Donald Trump authorized the transfer of power to President-elect Joe Biden. The New Zealand dollar was one of the biggest gainers, up by 0.9%, rising to its highest level in two years at $ 0.6985, after …
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24 November 2020 2:03 pm
Brent Rises to Highest Level Since March
Brent crude prices reached their highest levels since March, as news of a promising third Coronavirus vaccine supported hopes for a faster recovery in oil demand, while US President-elect Joe Biden received the green light to start the transition process for his leadership. By 07:44 GMT, Brent crude futures increased …
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24 November 2020 1:36 pm
German IFO Business Climate Index Falls to 90.7 in November
The headline German IFO Business Climate Index came in at 90.7 for November, down from the previous month’s 92.7 but matched consensus estimates. Meanwhile, the Current Economic Assessment arrived at 90.0 points during the reported month as compared to last month’s 90.3 and 87.2 anticipated. On the other hand, the …
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24 November 2020 1:05 pm
Japan Shares Closed at Peak of Several Years on Vaccine Hopes And Biden
Japanese stocks closed at a multi-year high on Tuesday, November 24, as progress in developing an inexpensive vaccine to prevent the Coronavirus boosted hopes for a speedy economic recovery, and sentiment received additional support from the approval of a formal transfer of power to US President-elect Joe Biden. The Nikkei …
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24 November 2020 12:28 pm
Gold Dropping on Vaccine Hopes And Smooth Transition in The White House
Gold continued to decline to its lowest level in four months Tuesday, November 24, as investors appealed to high-risk assets after the pharmaceutical company, AstraZeneca, ignited the race for a Coronavirus vaccine and a US federal agency approved the start of procedures for the presidential transition in the United States …
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24 November 2020 1:52 am
UK Again Preparing for No Deal Brexit
The UK’s Minister of Finance, Rishi Sunak, has played down the effect of a no trade deal Brexit, in a recent interview with the Financial Times. “They may well talk, but nothing is scheduled.”“We aren’t quite at the point where leaders get involved.” Sunak did not reveal a model in …
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24 November 2020 1:42 am
Biden to Name Yellen as Treasury Secretary
The United States President-elect Joe Biden is reportedly planning to nominate the former Federal Reserve Chairwoman Janet Yellen to be the next Secretary of Treasury, the Wall Street Journal has reported.
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24 November 2020 1:39 am
Wall Street Ends Monday Higher on Vaccine News
The main indices of the New York Stock Exchange (NYSE) closed higher on Monday, opening the week with a positive performance, supported by news about the success of new Coronavirus vaccines. The Dow Jones Industrial Average finished higher by 327.79 points, or 1.12%, at 29,591.27 points. The S&P 500 index …
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24 November 2020 1:28 am
Oil Settles at Highest Level Since March
Oil prices closed higher on Monday, opening the week with a positive performance, supported by positive news about Coronavirus vaccines. Brent crude futures for January delivery surged by $1.10, or 2.5%, to settle at $46.06 per barrel. This is the highest closing level for the global benchmark active contracts since …
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24 November 2020 1:23 am
Gold Closes with Biggest Losses in Two Weeks
Gold prices declined on Monday, registering its biggest daily decline in about two weeks. This comes as positive news about a number of Coronavirus vaccine candidates are spurring risk appetite and reducing demand for safe havens. Gold futures for December delivery decreased by $36.40, or 1.8%, and settled at $1,837.8 …
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