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Market Analysis

December, 2020

  • 24 December 2020 11:30 pm

    Oil Closes the Week in Losses Ahead of Christmas

    Oil prices rose slightly on Thursday ahead of the Christmas holiday, but ended the shortened week in losses. Crude prices remain supported by a decline in the United States oil stockpiles, as reported on Wednesday by the U.S. Energy Information Administration (EIA). Moreover, the number of active rigs drilling for …

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  • 24 December 2020 9:00 pm

    Gold Records First Weekly Decline in a Month

    Gold prices rose on Thursday for the second consecutive session, ahead of the Christmas holiday. On a weekly basis, the yellow metal futures registered its first fall in four weeks, after three rises in a row. Gold futures for February delivery gained $5.10, or 0.3%, and closed at the level …

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  • 24 December 2020 6:57 pm

    Wall Street Opens Higher Ahead of Christmas

    The New York Stock Exchange (NYSE) opened Thursday higher with the major indices of Wall Street maintaining a positive performance ahead of the Christmas Holiday. The Dow Jones Industrial Average is marginally up by 18.4 points, or 0.06%. The S&P 500 rose by 6.66 points, or 0.18%, reaching 3,696 points. …

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  • 24 December 2020 6:51 pm

    European Stocks Register Gains for Third Day

    European stocks closed Thursday higher for the third consecutive session, supported by hopes for a Brexit trade deal between the European Union (EU) and the United Kingdom (UK). The STOXX Europe 600 index rose by 1.30% to finish at 396.32 points. Meanwhile, the UK’s FTSE100 and France CAC40 added 0.10% …

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  • 24 December 2020 1:43 pm

    European Shares Jumped, Supported by Signs of Near Brexit Deal

    European stocks headed towards a third consecutive session of gains on Thursday, December 24th, as a trade deal tied to Britain’s exit from the European Union became imminent, just a week before the final Brexit. The European Stoxx600 index rose 0.1%, seeming to be on its way to the start …

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  • 24 December 2020 12:52 pm

    Gold Rising, Supported by US Dollar’s Decline and Hopes For Stimulus

    Gold prices rose Thursday, December 24th, as the dollar fell and investors are betting on more stimulus in the United States, despite President Donald Trump’s threat not to sign a long-awaited aid package linked to the pandemic. Spot gold rose 0.2% to $ 1875.20 an ounce by 07:22 GMT, after …

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  • 24 December 2020 11:53 am

    Nikkei is approaching its 30-year high, supported by hopes of a recovery

    Japanese stocks rose Thursday, December 24th, to be around the corner from their highest levels in nearly three decades, as the distribution of the vaccine supports hopes for an economic recovery from the Covid-19 pandemic, while the shares of heavy machinery manufacturers gained on the background of a shift in …

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  • 24 December 2020 11:09 am

    Currencies Overview: GBP Rising and USD Under Threat Amid Hopes of a Near Brexit Deal

    The British pound extended gains Thursday, December 24, amid expectations that an agreement related to Britain’s exit from the European Union is imminent after a long period of being considered difficult to achieve, which raises hopes that Britain will be able to avoid an economic disruption with the beginning of …

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  • 24 December 2020 10:53 am

    BOJ’s Kuroda: Japan’s Economy Likely to Improve Moderately as a Trend

    “Japan’s economy is likely to improve moderately as a trend,” the Bank of Japan (BOJ) Governor Haruhiko Kuroda said in a scheduled speech at the Japan Business Federation’s Board of Councillors Meeting, in Tokyo. There is high uncertainty for economic outlook as it will likely take time for vaccines to …

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  • 24 December 2020 10:36 am

    Turkish Lira Drops Slightly Ahead of Rate Decision

    The Turkish lira fell 0.45% against the US dollar ahead of a central bank meeting on interest rates, in which the bank is expected to raise its benchmark interest rate by 150 basis points. The currency reached 7.6590 against the dollar, a level just below its closing price on Wednesday …

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  • 24 December 2020 12:00 am

    Oil Settles Higher After Two Declines

    Oil prices rose on Wednesday, showing positive recovery signs after two consecutive declines, supported by a decline in crude inventories in the United States. In addition, the decline of the US Dollar (USD) and renewed hopes for a Brexit trade deal are providing support for crude prices. Brent crude futures …

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  • 23 December 2020 11:00 pm

    Gold Rises After Two Declines

    After two consecutive declines this week, gold prices rose on Wednesday, supported by a decline by the US Dollar (USD) on the back of mixed economic data. Gold futures for February delivery rose by $7.80, or 0.4%, to finish at $1,878.10 per ounce. Meanwhile, Silver futures for March delivery added …

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  • 23 December 2020 10:30 pm

    US Natural Gas Storage Declines 4.1% in Week

    Natural gas storage in the United States declined last week by 152 billion standard cubic feet (bscf) to stand at a total of 3,574 bscf, declining by around 4.1%, according to data by the U.S. Energy Information Administration (EIA) on Wednesday. On an annual basis, natural gas inventories rose by …

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