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Market Analysis

October, 2020

  • 6 October 2020 9:11 pm

    European Stocks Finish Higher

    European stocks closed Tuesday higher, amid improved risk sentiment after news about the discharge of Donald Trump from hospital. The Stoxx Europe 600 index finished higher by around 0.1%, supported by the gains of bank stocks. The UK’s FTSE100 gained 0.12%, while the French CAC40 added 0.48%. Meanwhile, the German …

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  • 6 October 2020 6:45 pm

    US Job Openings Post First Decline in Four Months

    New job openings in the United States declined during the month of August, for the first time in four months, according to data by the US Department of Labor. Job openings decreased by 204,000 to 6.49 million last month, as per the monthly Job Openings and Labor Turnover Survey (JOLTS). …

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  • 6 October 2020 6:00 pm

    FOMC Chairman Jerome Powell’s speech at NABE 62nd Annual Meeting – Live Stream

    Jerome Powell, Chairman of the Federal Reserve System, will be delivering his remarks at the National Association for Business Economics’ 62nd Annual Meeting on Tuesday.

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  • 6 October 2020 5:21 pm

    Canada’s International Merchandise Trade Deficit Expands to $2.4B

    Canada’s merchandise trade deficit with the world narrowed modestly to $2.4 billion in August from $2.5 billion in July, the data published by Statistics Canada showed on Tuesday. “After two months of strong growth, Canadian merchandise exports and imports stabilized in August. Imports fell 1.2%, while exports were down 1.0%,” …

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  • 6 October 2020 5:07 pm

    US Trade Deficit Widens to $67.1 Billion in August

    The United States’ goods and services deficit rose by $3.7 billion to $67.1 billion in August, the data published jointly by the US Census Bureau and the US Bureau of Economic Analysis showed on Tuesday. This reading missed the market expectation for a deficit of $66.1 billion. “August exports were $171.9 …

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  • 6 October 2020 4:05 pm

    ECB: Profitability of Eurozone Banks Collapsed in Q2

    The European Central Bank said Tuesday that the profitability of the largest banks in the euro area collapsed in Q2 of the year, although banks managed to keep their bad loan balances low. The bank stated in its quarterly statistics that the return on capital in the first half of …

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  • 6 October 2020 3:04 pm

    Sunak: We Can’t Keep Borrowing Huge Sums in Long Term

    British Finance Minister Rishi Sunak said Tuesday that his country cannot continue to borrow huge sums in the long term because it is not sustainable for the economy. “It is clear that this year we have had to borrow huge sums to support the economy in a time of crisis, …

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  • 6 October 2020 2:58 pm

    Gold Dropping After Trump Leaves Hospital

    Gold prices fell on Tuesday, while stocks rose after US President Donald Trump left the hospital after being treated for the Corona virus, but the weakness of the dollar limited the gains. Gold spot fell 0.1% to 1910.68 dollars an ounce, and yesterday it had recorded 1918.36 dollars, its highest …

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  • 6 October 2020 2:55 pm

    Oil Maintains Gains After Trump Returns to The White House

    Oil prices rose in early trading Tuesday after US President Donald Trump returned to the White House from the hospital after being admitted to receive treatment for the Corona virus last Friday, while another hurricane swept through the Gulf of Mexico in the United States. Prices fell sharply last Friday …

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  • 6 October 2020 12:50 pm

    RBA Keeps Interest Rates Unchanged

    The Reserve Bank of Australia kept interest rates at 25 basis points, the level it has maintained since March. Reserve Bank of Australia Governor Philip Lowe said the unemployment rate is an important national priority for the board, and hinted at more monetary easing to support the economy and jobs. …

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  • 6 October 2020 12:47 pm

    German Industrial Orders Rose More Than Expected in August

    Data on Tuesday showed that German industrial goods orders rose 4.5% month-on-month in August, a boost to hopes that Europe’s largest economy would rebound strongly in the third quarter from the coronavirus shock. The increase comes in comparison with Reuters’ forecast of a 2.6% rise, and indicates that the economy …

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  • 6 October 2020 1:40 am

    Germany and Ireland Avoiding New Shutdowns

    The German and Irish governments are reportedly trying to avoid a new lockdown, as part of preventive measures against the Coronavirus (COVID-19) pandemic, according to Reuters. As businesses could be hit hard, the move seems to be falling out of favor in Berlin and Dublin. “There must not be a …

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  • 6 October 2020 1:27 am

    NYSE Closes Higher on Investors’ Optimism

    The New York Stock Exchange (NYSE) closed Monday higher, opening the week with a positive performance supported by positive news about the health of US President Donald Trump, who is reportedly preparing to return to the White House. In addition, Wall Street remains in anticipation for a new stimulus package …

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