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Market Analysis

November, 2020

  • 18 November 2020 6:17 pm

    US: Housing Starts to Increase by 4.9% in October, Building Permits Stay Unchanged

    Housing Starts in the US rose by 4.9% on a monthly basis in October following September’s increase of 6.3% (revised from 1.9%), the data published jointly by the US Census Bureau and the US Department of Housing and Urban Development showed on Wednesday. Further details of the publication revealed that …

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  • 18 November 2020 5:39 pm

    Turkish Lira Declining a Day Before an Important Interest Decision

    The Turkish lira fell on Wednesday, November 18, a day before the central bank’s important interest rate decision, as it remained at levels reached last week due to expectations of a sharp rate hike. By 07:29 GMT, the lira was at 7.73 per dollar, compared with 7.7150 at Tuesday’s close. …

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  • 18 November 2020 4:22 pm

    Pfizer and BioNTech: Vaccine 95% Effective in Final Efficacy Analysis of Phase 3 Trial

    Pfizer Inc said on Wednesday that the final efficacy analysis of phase 3 trial of the coronavirus vaccine it develops with BioNTech has shown to be 95% effective, as reported by Reuters. “Efficacy of COVID-19 vaccine was consistent across age, race and ethnicity demographics.”“Planning to file for US emergency use …

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  • 18 November 2020 3:12 pm

    Bitcoin Breaking $18,000 Mark And Nearing All-Time Highs

    Bitcoin broke the $ 18,000 barrier today, Wednesday, reaching its highest level since December 2017, continuing its great rise in 2020, supported by demand for its nature, which is a hedge against inflation and expectations for a general trend to accept. The main and largest cryptocurrency jumped to $ 18,483, …

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  • 18 November 2020 2:13 pm

    Gold is Moving in a Limited Range Amid Vaccine Hopes And an Increase in Corona Cases

    Gold rose on Wednesday, November 18th, moving within a narrow range, as investors assess the possibilities associated with the Covid-19 vaccine in the face of concerns about increasing cases of infection and the possibility of more economic support from the US Federal Reserve. Spot gold rose 0.1% to $ 1880.81 …

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  • 18 November 2020 1:05 pm

    Japan Shares Closed Lower as COVID-19 Cases Rose in Tokyo

    Japanese stocks closed lower on Wednesday, November 18th, as the Nikkei index retreated from its highest close in more than 29 years, which it reached in the previous session, as the high incidence of Covid-19 in Tokyo caused the rally in the recent rally to subside, supporting optimism about The …

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  • 18 November 2020 12:06 pm

    UK Annualized CPI Beats Estimates With 0.7% in Sept

    he UK Consumer Prices Index (CPI) 12-month rate came in at +0.7% in October when compared to +0.5% booked in September while beating expectations of a +0.6% print, the UK Office for National Statistics (ONS) reported on Wednesday. Meanwhile, the core inflation gauge (excluding volatile food and energy items) arrived …

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  • 18 November 2020 5:51 am

    What Does the New Budget Mean for Italy?

    The Italian government approved on Monday its budget for next year, with a reduced level of targeted deficit, Reuters reported. The 2021 budget has set a target of a 7% fiscal deficit compared to the Italian gross domestic product (GDP), down from 10.8% in 2020. However, it is expected that …

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  • 18 November 2020 5:34 am

    API: US Oil Inventories Up 4.2 M Barrels

    Crude oil inventories in the United States increased by 4.2 million barrels last week, according to data by the American Petroleum Institute (API) on Tuesday. Meanwhile, gasoline stockpiles rose by 256,000 barrels, while distillate inventories declined by 5 million barrels.

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  • 18 November 2020 4:44 am

    Oil Prices End on Mixed Note

    Oil prices showed a mixed performance on Tuesday, as the market awaits a firm commitment from the OPEC+ alliance towards the output cuts. Brent crude futures for January delivery fell by 7 cents, or 0.2%, to finish at $43.75 per barrel. Meanwhile, the West Texas Intermediate (WTI) futures for December …

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  • 18 November 2020 4:11 am

    Gold Posts First Decline in Four Days

    Gold prices closed lower on Tuesday, posting its first decline in four sessions, amid news about positive results by COVID-19 vaccines. Gold futures for December delivery declined by $2.70, or 0.1%, and settled at $1,885.10 per ounce. Meanwhile, silver futures for December delivery decreased by 15 cents, or 0.6%, and …

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  • 18 November 2020 12:11 am

    Fed’s Bostic Warns of Short-Term Risks to Recovery

    President of the Federal Reserve Bank of Atlanta, Raphael Bostic, said on Tuesday that weak October retail sales are showing short-term risk to economic recovery in the United States from the impact of the Coronavirus pandemic, Reuters reported. “We have short-term and immediate-term concerns with the spike in the virus …

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  • 17 November 2020 10:43 pm

    Lagarde: Vaccine Will Not Change Our Projections

    The President of the European Central Bank (ECB), Christine Lagarde, said on Tuesday that an effective Coronavirus vaccine will not change the bank’s economic projections. “I’m not sure that is going to be a major game-changer for our forecasts, simply because what we had anticipated in our baseline was that …

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