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Market Analysis

November, 2020

  • 4 November 2020 8:10 pm

    US Crude Oil Inventories Down in Week

    Crude oil inventories in the United States declined by 8 million barrels last week, according to data by the US Energy Information Administration (EIA) on Wednesday. Meanwhile, gasoline stockpiles increased by 1.5 million barrels, while distillate stockpiles decreased by 1.6 million barrels.

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  • 4 November 2020 7:44 pm

    USD Struggling for Direction

    The US Dollar (USD) is fluctuating on Wednesday, awaiting the results of yesterday’s elections. It seems unlikely that the Democrats will take control of the Senate, which means a new large stimulus package remains uncertain. The Dollar index (DXY), which measures the performance of the USD against a basket of …

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  • 4 November 2020 7:26 pm

    Wall Street Opens Higher Awaiting Election Results

    Wall Street opened higher on Wednesday, on the day following Election Day in the United States as the outcomes of the elections remains highly anticipated. All the indices of the New York Stock Exchange (NYSE) are trading higher. The Dow Jones Industrial Average is up by more than 563 points …

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  • 4 November 2020 7:00 pm

    US: Trade Deficit Narrows to $63.9 Billion in September

    The United States’ goods and services deficit declined by $3.2 billion to $63.9 billion in September, the data published jointly by the US Census Bureau and the US Bureau of Economic Analysis showed on Wednesday. This reading missed the market expectation for a deficit of $63.8 billion by a small …

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  • 4 November 2020 6:58 pm

    Canada: Trade Deficit Expands to C$3.25 Billion in September

    Canada’s trade deficit expanded from C$3.21 billion in August to C$3.25 billion in September, the monthly data published by Statistics Canada showed on Wednesday. This reading came in worse than the market expectation for a deficit of C$2.6 billion. Further details of the publication revealed that Canada’s exports rose by …

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  • 4 November 2020 6:58 pm

    US Private Sector Employment Rises by 365K in October

    Employment in the US private sector rose by 365,000 in October, the monthly data published by the Automatic Data Processing (ADP) Research Institue revealed on Wednesday. This reading followed September’s increase of 753,000 (revised from 749,000) and missed the market expectation of 650,000 by a wide margin.

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  • 4 November 2020 6:33 pm

    US Election: Biden Takes Lead in Michigan, 49.3% vs. 49.1%

    Former Vice President Joe Biden has taken a slim lead in Michigan over US President Donald Trump, 49.3% vs. 49.1%, with 94% of expected votes tallied, the latest figures from the Associated Press showed.

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  • 4 November 2020 6:13 pm

    Canada: Trade Deficit Expands to C$3.25 Billion in September

    Canada’s trade deficit expanded from C$3.21 billion in August to C$3.25 billion in September, the monthly data published by Statistics Canada showed on Wednesday. This reading came in worse than the market expectation for a deficit of C$2.6 billion. Further details of the publication revealed that Canada’s exports rose by …

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  • 4 November 2020 6:11 pm

    US Election: Trump Lead Narrows in Michigan, 49.4% vs. 48.9% with 86% of Votes Tallied

    In Michigan, with 86% of expected votes tallied, President Donald Trump has 49.4% and former Vice President Joe Biden has 48.9%, Reuters reported, citing Edison Research. Earlier in the day, Trump’s lead was 52% in the state with 79% of votes tallied and the narrowing gap seems to be helping …

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  • 4 November 2020 5:28 pm

    US Election: Biden is up 49.5% vs. 48.8% in Wisconsin With 97% of votes tallied

    Former Vice President Joe Biden has 49.5% and US President Donald Trump has 48.8% of the votes in Wisconsin with 97% of expected votes tallied so far, Reuters reported, citing Edison Research.

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  • 4 November 2020 4:50 pm

    Biden Campaign: Our Lawyers Ready if Trump Goes to Court to Stop The Vote Count

    Democratic presidential candidate Joe Biden’s campaign has said its legal teams will be ready if President Donald Trump implements his threat to go to court to try to stop the vote count. Earlier on Wednesday, Trump prematurely declared victory in the election. He said: “We are going to the United …

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  • 4 November 2020 3:41 pm

    US Election: Nevada Postpones Vote Counting Until 1700 GMT, Thursday

    The state of Nevada will not resume counting votes until 0900 PST (1700 GMT) on Thursday, Reuter reported on Wednesday, citing Edison Research. The latest data shows that President Donald Trump and former Vice President Joe Biden are tied at 49% in the state with 85% of estimated votes tallied …

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  • 4 November 2020 2:23 pm

    UK Foreign Secretary: Lockdown Will Definitely End on December 2

    midst the US election chaos, UK Foreign Secretary Dominic Raab said in a statement on Wednesday, the lockdown will definitely end on December 2. The reassurance from Raab failed to offer any reprieve to the GBP bulls, as GBP/USD drops 0.86% to trade at 1.2941, as of writing. Earlier this …

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