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Market Analysis

November, 2020

  • 6 November 2020 2:27 pm

    European Stocks Losing Momentum After a 5-Day Rally

    European stocks faced difficulties to gain momentum today, Friday, after a strong rally this week, as Italy and France recorded record numbers of cases of Coronavirus, while the counting of votes in the US elections continues. The pan-European STOXX 600 index fell 0.1%, after five days of gains that put …

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  • 6 November 2020 1:34 pm

    US Election: Biden Takes The Lead in Georgia, With 99% of Estimated Votes Tallied

    With 99% of the estimated votes tallied in Georgia, there seems to be a flip in the expected outcome, as the former Vice-President Joe Biden takes the lead. President Trump lost footing in the battleground after his lead continued to narrow in the last hours.

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  • 6 November 2020 1:12 pm

    German Industrial Production Rose Less Than Expected in September on Covid-19 Fears

    Data on Friday showed that German industrial production rose less than expected in September as the Coronavirus crisis curbed activity, in new evidence that the recovery from the pandemic shock is slowing down in Europe’s largest economy. Figures released by the Federal Statistics Office showed that industrial production increased 1.6% …

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  • 6 November 2020 12:53 pm

    Gold Falling With Dollar’s Rally, But Heading For Best Week in More Than 3 Months

    Gold fell on Friday as the dollar rose, but the yellow metal is on track to record its best weekly performance since late July, thanks to hopes of more central bank support, as investors bet on a split in the US Congress under the presidency of Joe Biden. And gold …

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  • 6 November 2020 12:49 pm

    Oil Declining as Covid-19 Cases Rise And Vote Count Continues in America

    US oil fell more than 2% on Friday, as new lockdown measures in Europe to stem the rise in Covid-19 cases fueled concerns about the outlook for demand, while markets remain in a state of tension due to the long-running US election counting. West Texas Intermediate crude fell $ 1.06, …

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  • 6 November 2020 11:27 am

    The Dollar Expecting More Losses on Continued Votes Count

    The dollar stabilized against several currencies on Friday, but traders say it is likely to incur more losses as the controversial US presidential election dashes hopes of a major stimulus to support the economy anytime soon. Investors are betting that Democratic candidate Joe Biden will become the next president, but …

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  • 6 November 2020 1:20 am

    NYSE Closes Higher Despite Elections Uncertainty

    The New York Stock Exchange (NYSE) closed Thursday higher, despite uncertainty about the results of the United States presidential elections. The Dow Jones Industrial Average increased by 542 points, or 1.95%, to close at 28,390.18 points. The S&P 500 gained 67.01 points, or 1.95%, and finished at 3,510.45 points. The …

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  • 6 November 2020 12:40 am

    Oil Settles Lower for First Time in Four Days

    Oil prices declined on Thursday, after rising for three consecutive sessions, amid growing concerns about the COVID-19 pandemic. Brent crude futures for January delivery lost 30 cents, or 0.7%, to finish at $40.93 per barrel. Meanwhile, the West Texas Intermediate (WTI) futures for December delivery closed lower by 36 cents, …

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  • 6 November 2020 12:37 am

    US Treasury Yields Mixed as Fed Hold Rates as Expected

    Treasury yields in the United States showed a mixed performance on Thursday, as the Federal Reserve maintained interest rates near 0%. The 10-year Treasury yield declined by 0.2 basis points to 0.77%. Return on the 30-year bond decreased by 1.2 basis points to 1.537%. Meanwhile, the return on the two-year …

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  • 6 November 2020 12:12 am

    Gold Logs Highest Daily Gains since April

    Gold prices settled on Thursday at their highest level in about seven weeks, as the US Dollar (USD) declined across the board amid uncertainty about the United States election results. Gold futures for December delivery gained $50.60, or 2.7%, and settled at $1,946.80 per ounce. This is the highest closing …

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  • 5 November 2020 11:32 pm

    Fed: Economy is Recovering but Remains Below Pre-Crisis Levels

    The United States Federal Reserve has expressed commitment to using its full range of tools to support the economy in the face of the Coronavirus crisis. The target range for the federal funds rate has been kept at 0% to 0.25% and the Fed expects it will be appropriate to …

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  • 5 November 2020 11:15 pm

    US Fed Reserve Maintains Interest Rates

    The United States Federal Reserve has maintained interest rates near 0%, noting that the American economy is still below its pre-COVID-19 levels.

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  • 5 November 2020 10:22 pm

    GBP Maintains Gains Against USD

    The British Pound (GBP) is rising against the US Dollar (USD), as the latter is declining across the board. This comes amid the continued uncertainty surrounding the outcomes of the presidential elections. The GBP/USD is trading higher by 0.81% at 1.3093. The pair has been moving in a range between …

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