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Market Analysis

November, 2020

  • 2 November 2020 12:34 pm

    Oil is Down by More Than 3% on Concerns About Fuel Demand

    Oil prices fell more than 3% Monday, November 2, due to fears that widening the scope of anti-Corona virus closures in Europe may weaken fuel demand, while dealers brace for unrest in conjunction with the US presidential elections this week. By 04:10 GMT, Brent crude futures for January delivery were …

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  • 2 November 2020 10:21 am

    General Lockdown Returns to Britain for 4 weeks

    British Prime Minister Boris Johnson announced Saturday, October 31, that England will adopt a second general lockdown with the spread of Coronavirus cases in the United Kingdom, which leads to the closure of all non-essential businesses, leaving schools open until December 1 while trying to suppress the virus. . Johnson …

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October, 2020

  • 31 October 2020 12:03 am

    Oil Ends October at Lowest Level in Five Months

    Oil prices declined on Friday to settle at their lowest closing level in about five months, as a negative outlook for the recovery of global demand persists, with uncertainty surrounding the future of output cuts. Brent crude futures for December delivery declined by 19 cents, or 0.5%, and closed at …

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  • 30 October 2020 11:28 pm

    Gold Posts Third Weekly Decline

    Gold prices rose on Friday to limit its third consecutive weekly decline, amid uncertainty that is dominating the market. Gold futures for December delivery rose by $11.90, or 0.6%, and settled at $1,879.90 per ounce, its lowest closing level since September 25. For the week, gold futures posted a 1.3% …

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  • 30 October 2020 10:40 pm

    US Oil Rigs Rise for Sixth Week in Row

    The number of active oilrigs in the United States rose by 10 to 221 during the week, according to the weekly report by Baker Hughes released on Friday. This is the sixth consecutive weekly increase in active rigs drilling for oil in the US. A decline in natural gas rigs …

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  • 30 October 2020 10:35 pm

    Global Demand for Gold Declines to Lowest Level in 11 Years

    The global demand for gold declined during the third quarter (Q3) of 2020 by 19% year-on-year. Demand during Q3 for the yellow metal amounted to 892 metric tons, the lowest quarterly level registered since 2009, according to data by the World Gold Council. Meanwhile, investments in the gold sector rose …

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  • 30 October 2020 10:19 pm

    USD/CHF Enhances its Weekly Gains

    The US Dollar (USD) is rising on Friday against the Swiss Franc (CHF), supported by increased demand amid uncertainty. The USD/CHF pair is rising and is close to finishing the week in gains. The pair is trading higher for the day by 0.22% at 0.9172. The pair has been moving …

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  • 30 October 2020 9:53 pm

    USD/JPY Struggling to Restore 104.75 Level

    The US Dollar (USD) is rebounding against the Japanese Yen (JPY) on Friday, after showing a negative performance earlier in the day. The USD/JPY pair is marginally up for the day by 0.02% at 104.63, and has been moving throughout the day between 104.130 and 104.740, facing strong resistance at …

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  • 30 October 2020 9:43 pm

    European Stocks Limit Weekly Decline

    European stocks closed higher on Friday, supported by positive economic data in the Eurozone. The STOXX Europe 600 index rose by 0.30% and finished at the level of 342.77, falling by 5.3% for the week. Meanwhile, the UK’s FTSE100 slipped by 0.08%, while the German index DAX declined by 0.36%. …

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  • 30 October 2020 8:50 pm

    US Consumer Spending Rises in September

    Consumer spending in the United States increased by 1.4% in September, exceeding market expectations. This comes after consumer spending rose by 1% in August, a level that was expected to be maintained last month. It is worth noting that consumer spending makes up around two-thirds of economic activity in the …

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  • 30 October 2020 7:24 pm

    USD Stabilizes After Showing Fluctuations

    The US Dollar (USD) is stabilizing on Friday against major currencies after fluctuating earlier in the day, as it moved from the negative territory to be mostly unchanged from its closing level yesterday. The Dollar Index (DXY) is marginally down by 0.1% at 93.86. The index has been moving in …

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  • 30 October 2020 6:15 pm

    Wall Street Opens Lower as Technology Declines and Covid Grows

    The main US stock indices fell at the open today, Friday, affected by sales in technology companies after reports of results below expectations, while pessimism was exacerbated by a record increase in cases of Coronavirus infection and concerns about the presidential election. The Dow Jones Industrial Average lost 86.84 points, …

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  • 30 October 2020 6:12 pm

    US: UoM Consumer Sentiment Index Improves to 81.8 in October

    The Consumer Sentiment Index in the US rose from 80.4 in September 81.8 (final) in October, the University of Michigan’s latest Surveys of Consumers showed on Friday. This reading came in better than the market expectation and the previous estimate of 81.2. Further details of the publication revealed that the …

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