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Market Analysis

December, 2020

  • 9 December 2020 1:18 pm

    Oil is Rising, And Hopes For The Vaccine Suggest an Increase in US Stocks

    Oil prices rose on Wednesday, December 9th, to reduce crude losses incurred earlier, amid positive news about Covid-19 vaccines that boosted investors’ hopes for a recovery in fuel demand, which overshadowed concern about an unexpected jump in US oil stocks last week. Brent crude rose 11 cents, equivalent to 0.2%, …

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  • 9 December 2020 12:41 pm

    Gold Dropping From a Two-Week High as Stocks Rise on Vaccine

    Gold prices retreated from a two-week peak on Wednesday, December 9, as encouraging developments for the Coronavirus vaccine prompted investors to buy high-risk stocks as global stocks rose to record levels. Gold fell in the spot market 0.7% to $ 1858.80 an ounce, after hitting the highest level since November …

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  • 9 December 2020 5:25 am

    EU May Need Another Summit to Discuss Budget

    The Prime Minister of Poland, Mateusz Morawiecki, said on Tuesday that another meeting for the leaders of the European Union (EU) could be necessary to agree on the next budget and coronavirus recovery fund, Reuters reported. “It may happen that another summit will be necessary… maybe there will be more …

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  • 9 December 2020 2:22 am

    US Oil Inventories Up 1.1 M Barrels – API

    Data by the American Petroleum Institute (API) showed on Tuesday that crude oil inventories in the United States increased by 1.1 million barrels last week. Meanwhile, gasoline stockpiles grew by 6.4 million barrels, and distillate inventories rose by 2.3 million barrels.

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  • 9 December 2020 2:04 am

    NYSE Closes Tuesday in Green

    The New York Stock Exchange (NYSE) finished Tuesday on a higher note, amid renewed hopes for a new government stimulus package. The Dow Industrial Average rose by 104.09 points, or 0.35%, to close at 30,173.88 points. The S&P 500 closed at 3,702.25 points, gaining 10.29 points, or 0.28%. Meanwhile, the …

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  • 9 December 2020 2:00 am

    US Treasury Yields Mostly Decline

    Treasury yields in the United States declined on Tuesday, amid growing anticipation for a new stimulus package with talks still ongoing. This also comes amid the rise in the number of Coronavirus cases. Return on the 10-year Treasury bond decreased by 1.5 basis points to 0.913%, after falling earlier below …

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  • 9 December 2020 1:42 am

    Oil Ends on Mixed Note Amid Recovery Concerns

    Oil prices showed a mixed performance on Tuesday, amid increasing concerns about the rising number of Coronavirus cases. Brent crude futures for February delivery rose by 0.10% and finished at $48.84 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures for January delivery declined by 0.4% and settled at …

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  • 9 December 2020 1:24 am

    Gold Settles at Highest Level in Three Weeks

    Gold prices rose on Tuesday for the second consecutive session, amid the decline in the US treasury yields and despite a rise by the US Dollar (USD) and renewed hopes for a new government stimulus package in the United States. Gold futures for February delivery added $8.90, or 0.5%, and …

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  • 9 December 2020 12:24 am

    US Unit Labor Costs Decline in Q3

    Unit labor costs in the United States declined during the third quarter (Q3) of the year, data by the US Department of Labor showed on Tuesday. The price of labor for each unit of output decreased by 6.6%, compared with a previously estimated 8.9%. It is worth noting that during …

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  • 8 December 2020 11:09 pm

    US Nonfarm Productivity Rises in Q3

    Nonfarm worker productivity in the United States grew during the third quarter (Q3) of the year, data by the US Department of Labor showed on Tuesday. This comes as the US economy, and especially the services sector, is recovering from the impacts of the Coronavirus crisis. Hourly output per worker …

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  • 8 December 2020 10:18 pm

    Germany Suspends Debt Ceiling Again

    The German parliament on Tuesday suspended, once again, the debt limits in the constitution to allow for increased government borrowing of up to EUR 180 billion in 2021, Reuters reported. The increased government debt aims at funding stimulus spending to help Europe’s largest economy face the economic consequences of the …

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  • 8 December 2020 9:52 pm

    USD Fluctuates with Moves in Positive Territory

    The US Dollar (USD) is showing some signs of recovery on Tuesday, after declining yesterday near its lowest level since 2018. The American currency is showing some fluctuations against major currencies but mostly moving in the positive direction as shown by the performance of the Dollar index (DXY). The DXY, …

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  • 8 December 2020 8:00 pm

    European Stocks End Mostly Higher Amid Optimism

    European stocks closed higher on Tuesday, supported by an improved sentiment regarding Coronavirus vaccines and trade talks between the European Union (EU) and the United Kingdom (UK). The Stoxx Europe 600 index closed higher by 0.2% recovering most of its losses on the first session of the week. The UK’s …

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