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Market Analysis

November, 2020

  • 11 November 2020 1:09 am

    Gold Restores Some of its Monday Losses

    Gold prices rose on Tuesday, recovering some of its losses yesterday, which were the biggest in a single day in about seven years. Dropping gold prices in the first session of the week came amid high hopes for the success of the Coronavirus vaccine being developed by Pfizer and BioNTech. …

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  • 11 November 2020 12:49 am

    Fed’s Daly: Economy Could Slow as COVID-19 Cases Rise

    President of the Federal Reserve Bank of San Francisco, Mary Daly, said on Tuesday that the United States economy could slow amid the increasing number of COVID-19 cases in the country, Reuters reported. “My modal outlook is that we will continue to expand at a gradual pace.”“When the virus is …

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  • 10 November 2020 9:42 pm

    European Stocks Maintain Rising Streak

    European stocks maintained their upward trend on Tuesday, supported by positive news about a vaccine against the Coronavirus disease (COVID-19). The pan-European STOXX 600 index rose by 0.99%, while the UK’s FTSE100 ended higher by 1.79%. In France, the CAC40 index gained 1.55%, while the German index DAX finished up …

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  • 10 November 2020 8:33 pm

    Fed’s Rosengren: US Economy Vulnerable Due to Corporate Debt

    The United States economy is more vulnerable due to rising debt levels by some companies prior to the Coronavirus crisis, according to the President of the Federal Reserve Bank of Boston, Eric Rosengren, said on Tuesday, Reuters reported. “Those segments of the labor market most affected by amplified business cycles, …

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  • 10 November 2020 8:22 pm

    US Job Openings Rise Slightly in September

    Job openings in the United States showed a modest increase in September, as the market recovers from the impact of the COVID-19 crisis, data showed on Tuesday. The job openings rose by 84,000 to 6.4 million by the end of September, according to the U.S. Department of Labor’s monthly Job …

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  • 10 November 2020 8:15 pm

    USD/CAD Stabilizes Awaiting Moving Factors

    The Canadian Dollar (CAD) declined against the US Dollar (USD) on Tuesday, after rising on Monday to its highest level in about two years, before recovering some of its earlier losses. The USD/CAD pair is trading lower for by 0.02% at 1.3004. The pair has been moving in a range …

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  • 10 November 2020 7:28 pm

    GBP Rises on Renewed Hopes for Brexit Deal

    The British Pound (GBP) is rising on Tuesday, supported by optimism about the United Kingdom (UK) and the European Union (EU) reaching a trade agreement for the post-Brexit stage. Significant progress has been achieved in trade talks, according to recent remarks by the British Minister of Finance, Rishi Sunak. The …

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  • 10 November 2020 6:49 pm

    European Parliament, EU Governments Reach Deal on 2021-2027 Budget

    European Parliament and the European Union governments have reached a deal on the EU’s 2021-2027 budget, as reported by Reuters. Commenting on this development, “a deal for Europe – Council and European Parliament negotiators reach a political agreement on the EU budget & recovery package,” the spokesman for the German …

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  • 10 November 2020 5:53 pm

    Fed’s Kaplan: Negative Interest Rates Are Off The Table

    “If there’s more for the Fed to do, it would be with treasury to help companies,” Dallas Federal Reserve President Robert Kaplan said on Tuesday, as reported by Reuters. “Potential GDP growth after 2023 will return to being sluggish.”“Financial conditions are relatively loose.”“Once we have weathered the pandemic, will have …

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  • 10 November 2020 5:27 pm

    Turkish Lira Gained Around 5% on Monday Following CBRT News

    The Turkish lira recorded a new low on Monday against the US dollar, with the USD/TRY to the 8.40 area on Tuesday, but some initial resistance has begun to appear. The lira recorded the biggest one-day advance against the dollar since 2018 after traders considered the news about the dismissal …

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  • 10 November 2020 4:41 pm

    Small-Business Owners Grow More Anxious After Covid-19 Surge

    There was no change to NFIB US Business Optimism Index, which stood at 104 in October of 2020, the same figure as the previous month. While it came higher than market expectations, which settled at 102.2. The last two readings are the highest since January and are among the highest …

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  • 10 November 2020 3:45 pm

    Vitol CEO Expects Oil Prices to Rise Towards $50 a Barrel

    Vitol CEO Russell Hardy said oil prices will be heading towards a range of $ 45- $ 49 a barrel or even $ 50 in the next few months, with inventory drawdown modest during the winter and this accelerating through mid-2021. The benchmark Brent crude was trading at around $ …

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  • 10 November 2020 3:10 pm

    Oil Falls on Worries About Weak Demand And COVID-19 Vaccine

    Oil prices fell on Tuesday, November 10 as concerns about short-term fuel demand in Europe and the United States, affected by the Coronavirus, chased the market after an overnight rally led by encouraging news about a vaccine for Covid-19. US West Texas Intermediate crude futures fell 55 cents, or about …

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