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On Thursday, the Turkish central bank kept interest rates unchanged at 10.25%, which was contrary to speculation of a large increase. A poll of 17 economists conducted by Reuters had expected the bank to raise its repurchase rate (repo) for a week 175 basis points, as forecasts ranged from increases …
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October, 2020
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22 October 2020 4:39 pm
US: Weekly Initial Jobless Claims Fall to 787K
There were 787,000 initial claims for unemployment benefits in the US during the week ending October 16th, the data published by the US Department of Labor (DOL) revealed this Thursday. This reading followed last week’s print of 842,000 (revised from 898,000) and came in better than the market expectation of …
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22 October 2020 4:09 pm
US Dollar Recovering From Its Lowest Level in Seven Weeks
The dollar recovered from its lowest level in seven weeks, receiving some support after hopes for a fiscal stimulus package in the United States before the November elections collapsed. Progress towards a stimulus agreement in the United States was supporting sentiment in global markets and raising demand for riskier assets …
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22 October 2020 2:46 pm
European Stocks at Lowest in Nearly a Month
European stocks hit their lowest in nearly a month on Thursday, as sentiment was affected by declining German consumer confidence, concerns about the increasing rate of Coronavirus infections, and the faltering stimulus in the United States. The German DAX index fell 1.3%, below the European stock market indices, after a …
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22 October 2020 1:45 pm
Japan Shares Closed Lower Amid a Rising Yen and US Political Uncertainty
Japanese stocks closed lower on Thursday, as the rise of the yen threatened exporters’ profits and amid fears that no agreement will be reached on an important US stimulus package before the presidential elections scheduled for the third of November. The benchmark Nikkei index closed down 0.7% to 23,474.2 points, …
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22 October 2020 1:08 pm
Consumer Sentiment in Germany Deteriorating as Numbers of Coronavirus Cases Increase
Thursday’s survey showed that consumer sentiment in Germany has deteriorated as November approaches, as a second wave of the new Corona virus outbreak in Europe’s largest economy caused Germans to have less appetite for spending. The GFK Institute said its consumer sentiment index, which is based on a survey of …
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22 October 2020 12:05 pm
Oil Down Due to an Increase in Gasoline Stocks in The US
Oil prices declined slightly Thursday after heavy losses overnight, and in light of the accumulation of gasoline stocks in the United States, indicating a decline in expectations for fuel demand, with the increase in the number of Corona virus infections in North America and Europe. Brent crude futures fell one …
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22 October 2020 11:05 am
Turkish Lira in All-Time Low
The Turkish lira fell against the US dollar below the 8 for the first time, with doubts surrounding the efforts of the Turkish Central Bank to support the Turkish currency with the escalation of geopolitical tensions. The Turkish lira fell 1.2% to $ 8.0088 on Monday, the largest decline compared …
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22 October 2020 11:03 am
EU Sets up Debt Management Office
A European Union official said on Wednesday that the bloc decided earlier this week to create a debt management office to handle its massive bond issues. The official, who refused to be named, added that the establishment of the office came as a result of reorganizing the general administration of …
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22 October 2020 12:51 am
NYSE Ends Lower as Investors Await Stimulus
The New York Stock Exchange (NYSE) closed lower on Wednesday, amid anticipation for a new stimulus package. The Dow Jones Industrial Average finished lower by 97.97 points, or 0.35%, at 28,210.82 points. The S&P 500 index declined by 7.56 points, or 0.22%, to settle at 3,435.56 points. The Nasdaq Composite …
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22 October 2020 12:37 am
Oil Closes at Lowest Level in a Week
Oil prices declined on Wednesday after data showed an increase in the United States crude oil inventories, spurring once again fears about the recovery of the global demand. Brent crude futures for December delivery declined by $1.43, or 3.3%, to finish at $41.73 per barrel. Meanwhile, the West Texas Intermediate …
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21 October 2020 11:49 pm
Pelosi Optimistic about New Stimulus
The Speaker of the United States House of Representatives, Nancy Pelosi, said on Wednesday that there remains a potential for reaching a deal on a new COVID-19 stimulus package, Reuters reported. However, Pelosi did not clarify if an agreement would be reached before or after the upcoming elections. The President …
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21 October 2020 11:44 pm
USD at Lowest Level in Seven Weeks
The US Dollar maintained its downward trend on Wednesday to fell to a its lowest level in about seven weeks, despite hopes for a new stimulus package in the United States. The Dollar Index (DXY), which measures the USD performance against a basket of six major international currencies, is down …
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