The Eurozone economy saw a rebound of 12.6% on quarter in the three months to September of 2020, missing +12.7% expected. Data released by the European Statistics Office (Eurostat) revealed on Friday. On an annualized basis, the bloc’s GDP dropped by 4.4% in Q3 vs. -4.3% seen in the previous reading while …
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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13 November 2020 2:20 pm
European Stocks Take a Hit After a Weekly Rally
The benchmark index of European stocks fell today, Friday, heading towards the weekly decline, as the increase in cases of coronavirus cases exacerbated fears of damage to the continent’s economy in the coming winter months. The pan-European STOXX 600 index fell 0.3%, after jumping earlier in the week thanks to …
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13 November 2020 1:06 pm
Oil Easing on Covid-19 Cases But Heading For a Weekly Gain
Oil prices plummeted on Friday, as they are under pressure due to concerns about a slowing global economic recovery and fuel demand due to an increase in COVID-19 cases, but the market remains on track to make gains for the second week in a row, supported by hopes for a …
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13 November 2020 12:36 pm
Gold Supported by Virus Fears But Heading For The Worst Week Since September
Gold prices stabilized in a narrow range today, Friday, supported by concerns about the economic consequences resulting from the escalation of Covid-19 cases, but the yellow metal is heading towards its first weekly loss since September, as it boosted hopes for a vaccine for high-risk assets earlier this week. With …
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13 November 2020 12:10 pm
Nikkei Index Ends 8-Session Winning Streak
The Nikkei index closed in the Tokyo Stock Exchange lower today, Friday, ending gains that continued for eight consecutive sessions, as investor sentiment was undermined by fears due to a new rise in new cases of the emerging coronavirus inside and outside Japan. The benchmark Nikkei index fell 0.53% to …
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13 November 2020 2:17 am
Powell: Coming Months Could be Challenging
The Chairman of the United States Federal Reserve, Jerome Powell, said on Thursday that economic recovery in the US has been faster and stronger than expected, but it is slowing a bit, which is understandable. The recovery remains uneven and incomplete, according to Powell’s remarks to the European Central Bank …
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13 November 2020 1:41 am
Oil Prices Mixed on Unexpected Inventories Buildup
Oil prices showed a mixed performance on Thursday, after data showed a surprise increase in crude inventories in the United States. In addition, concerns about the rising number of Coronavirus cases pressured crude prices despite commitment from the OPEC+ alliance to maintain output curbs. Brent crude futures for January delivery …
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12 November 2020 11:34 pm
USD/CAD Reaching New Week Highs
The US Dollar (USD) is rising on Thursday against its Canadian counterpart (CAD) to new week highs, despite a recovery by crude oil prices, which did not provide the needed support to the Canadian Dollar. The USD/CAD pair is trading higher for the day by 0.60% at 1.3142. Earlier today, …
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12 November 2020 11:30 pm
US Budget Deficit Records $284 B in October
The budget deficit in the United States amounted to $284 billion in October, data showed on Thursday. October marks the beginning of a new fiscal year in the US, while last year a record $3.1 trillion deficit was recorded. This comes as the US government tries to face the impact …
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12 November 2020 11:21 pm
Gold Settles Higher as COVID-19 Cases Surge
Gold prices rose on Thursday, amid increased concerns about the rising number of Coronavirus cases in the United States. The US recorded a record 200,000 cases of COVID-19 in a single day, the highest on record. The rise of the yellow metal comes as the US Dollar (USD) is also …
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12 November 2020 11:13 pm
IMF Calls for Better Cooperation Between G20
The International Monetary Fund (IMF) has called upon the G20 countries to coordinate their efforts to face the impacts of the Coronavirus (COVID-19) crisis, Reuters reported. “If the G20 countries, move together, invest together at the same time, they would spend a third less to achieve the same output goal,” …
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12 November 2020 10:58 pm
Germany Facing Weaker Q4 Growth Due to Lockdown
A partial lockdown in Germany this month could lead to weaker economic growth during the fourth quarter (Q4) of 2020, according to the German Finance Minister Olaf Scholz. The minister also said on Thursday that a government stimulus package could help offset the effect of the lockdown, Reuters reported. The …
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12 November 2020 10:54 pm
US Oil Inventories Rise Unexpectedly
Data by the United States Energy Information Administration (EIA) showed on Thursday that crude oil inventories in the US rose by 4.3 million barrels last week. The data comes against expectations a 3 million-barrel decline, according to a poll by S&P Global Platts. Gasoline inventories declined by 2.3 million barrels, …
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