Japanese stocks rose at the close on Wednesday, due to optimism about the possibility of US lawmakers reaching an agreement on a stimulus package ahead of the presidential election, which boosted the world’s riskier assets. The Nikkei index rose 0.31% to close at 23,639.46 points, recouping some of the losses …
Read More »Mark Carney Takes the Helm: Canada’s New PM Faces Trump and Global Trade Challenges
Newly-appointed Canadian Prime Minister Mark Carney officially assumed office on Friday morning, suc…
Oil Gains Amidst Geopolitical Tempest and Shifting Demand Forecasts
Despite a week dominated by fluctuating geopolitical tensions and evolving economic forecasts, oil p…
Fresh Deadline Drama: Senate Poised to Avert Shutdown
Funding Bill on the Brink of PassageThe Senate is set for a pivotal test vote this afternoon on the …
PPI Shadowed: GBP/USD Wobbles Amid GDP Shock and Surging US Inflation Fears
The Pound Sterling (GBP) faced renewed pressure against the US Dollar (USD) this week, with GBP/USD …
Changpeng Zhao Denies Ties of Trump Family Ties and Binance Amid Controversy
Changpeng Zhao (CZ), the founder and former CEO of Binance, the globe’s largest cryptocurrency…
Gold Shatters $3,000 Barrier: Historic Safe-Haven Surge Amid Global Uncertainty
In a landmark moment, gold prices surged past the $3,000 per ounce threshold on Friday, marking an a…
Bristol Myers Squibb Gains Expanded EU Approval for CAR-T Therapy Breyanzi
The European Commission has granted Bristol Myers Squibb (NYSE: BMY) an expanded approval for its CA…
Forex Market Overview: Yen Weakens, Pound Slips, Dollar Recovers
The Japanese yen weakened on Friday after concluding union wage negotiations, while the British poun…
Oil Prices Rebound as Ukraine Conflict Persists, Trade War Concerns Loom
Oil prices bounced back on Friday, recovering some of the previous session’s losses, as the Uk…
Gold Prices Hold Near Record Highs Amid Trade Tensions, Rate Cut Expectations
Gold prices remained steady at all-time highs in Asian trading on Friday, driven by escalating U.S.-…
Market Analysis
October, 2020
-
21 October 2020 12:17 pm
Gold Gained With Renewed Hopes of US Stimulus And Weakness of US Dollar
Gold rose on Wednesday, thanks to optimism about the possibility of US lawmakers reaching an agreement on an aid package for those affected by Corona before the presidential elections, which weakened the dollar and strengthened the lure of the yellow metal as a hedge against inflation. Gold rose in the …
Read More » -
21 October 2020 11:46 am
API: Sudden Increase in Oil Inventories
Data from the American Petroleum Institute showed, Tuesday, that crude oil inventories in the United States recorded an unexpected increase last week, while gasoline and distillate inventories declined. Crude inventories increased 584 thousand barrels in the week ending October 16, to reach about 490.6 million barrels, while analysts’ expectations indicated …
Read More » -
21 October 2020 1:11 am
Wall Street Rises on Stimulus Hopes
Wall Street rose on Tuesday, supported by recent remarks by the President of the United States, Donald Trump, and the Speaker of the House of Representatives, Nancy Pelosi, suggested that there could be a new stimulus package before the upcoming elections. The Dow Jones Industrial Average gained 113.37 points, or …
Read More » -
21 October 2020 12:48 am
Oil Closes Higher for First Time in Four Days
Oil prices rose on Tuesday, after recording earlier losses, to record its first rise after three consecutive declines. Brent crude futures for December delivery settled higher by 54 cents, or 1.3%, at $43.16 per barrel. Meanwhile, the US West Texas Intermediate (WTI) crude futures for December delivery gained 64 cents, …
Read More » -
21 October 2020 12:33 am
Fed’s Evans Sees Unemployment at 5.5% by End of Next Year
The President of the Federal Reserve Bank of Chicago, Charles Evans, said on Tuesday that a new wave of COVID-19 might not affect the United States economy as previously estimated. Evans expects unemployment rate in the US will reach 5.5% by the end of 2021, Reuters reported. “I sort of …
Read More » -
21 October 2020 12:29 am
Copper Settles at Highest Level in Two Years
Copper prices rose on Tuesday to a record high, supported by increased Chinese demand. Copper futures for December delivery went up by 6 cents, or 2%, and settled at $3.148 a pound. This is the highest closing level for copper futures since June 2018.
Read More » -
21 October 2020 12:25 am
Gold Settles Higher for Second Day in Row
Gold prices rose on Tuesday for the second consecutive session, supported by the decline of the US Dollar (USD) across the board. Gold futures for December delivery closed higher by $3.70, or 0.2%, at $1,915.40 per ounce.
Read More » -
20 October 2020 10:58 pm
Sweden Bans Chinese 5G Network Providers
Sweden has banned telecommunication equipment from Huawei and ZTE in its 5G network, Reuters reported. The move comes in line with similar measurements by other European countries on security concerns. Back in July, the United Kingdom decided that all Chinese components in its 5G network will be removed by 2027.
Read More » -
20 October 2020 10:19 pm
USD Declines Across the Board
The US Dollar (USD) declined on Tuesday amid increased concerns about the COVID-19 pandemic and uncertainty about the upcoming elections and a new economic stimulus package. The Dollar Index (DXY), which measures the performance of the USD against a basket of six major international currencies, is down by 0.41% at …
Read More » -
20 October 2020 10:16 pm
GBP/USD Declines Despite Dollar Weakness
The British Pound (GBP) is declining against the US Dollar (USD) on Tuesday despite the later showing weakness across the board. This comes amid Brexit uncertainty and worries about the second wave of the Coronavirus (COVID-19) pandemic. The GBP/USD is trading lower for the day by 0.04% at 1.2943. The …
Read More » -
20 October 2020 10:10 pm
Trump Supports $2.2 T COVID-19 Relief Spending
The President of the United States, Donald Trump, said on Tuesday that he supports a new comprehensive COVID-19 stimulus package worth more than $2.2 trillion. This comes despite opposition by the Republican majority in the Senate. The White House originally proposed $1.8 trillion in relief funds, while the Democrats want …
Read More » -
20 October 2020 9:31 pm
European Stocks Close Lower on COVID-19 Fears
European stocks finished Tuesday lower, amid growing concerns about the second wave of the Coronavirus (COVID-19) pandemic and its impact of European markets. The pan-European STOXX 600 index closed down by 0.23% at 365.95 points. Meanwhile, the UK’s FTSE100 rose marginally by less than 0.1%. The French CAC40 and the …
Read More »