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Market Analysis

November, 2020

  • 12 November 2020 3:14 pm

    Oil is Rising With Potential Supply Cuts to Offset Weak Demand

    Oil prices rose Thursday, November 12th, taking crude gains since the start of this week to more than 10%, thanks to growing hopes that major producers around the world will be reluctant to increase supplies, while the increase in cases of Covid-19 undermines demand for fuel. By 07:32 GMT, US …

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  • 12 November 2020 3:10 pm

    European Stocks Drop Due to Fears of The Second Wave of Corona

    European stocks fell on Thursday (November 12th) from their highest in eight months, as a surge in coronavirus cases raised doubts about a faster economic recovery and overshadowed positive quarterly earnings reports. The Stoxx600 index of European shares fell 0.7% by 08:04 GMT, erasing some of the shine of the …

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  • 12 November 2020 3:07 pm

    US Dollar Holds on to Its Gains as Investors’ Enthusiasm For Covid-19 Vaccine Wanes

    The dollar held on to its gains in general Thursday, November 12, as investors trimmed their optimistic expectations about the Covid-19 vaccine, which is unlikely to prevent a bleak winter in Europe and the United States with the escalation of the second wave of the pandemic. The dollar index rose …

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  • 12 November 2020 3:03 pm

    Gold Rises After Coronavirus Fears Outweighed Optimism About Vaccine

    Gold prices rose Thursday, November 12th, after falling by more than 1% in the previous session, after the impact of fears of the economic repercussions of the increase in cases of Covid-19 outweighed positive developments regarding a vaccine for the disease. By 05:49 GMT, spot gold prices rose 0.2% to …

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  • 12 November 2020 12:58 pm

    Nikkei Closed at a 29-Year High

    The Nikkei index closed Thursday, November 12th, near its 29-and-a-half year high as technology stocks tracked their US counterparts, but gains were capped by profit-taking selling following a surge fueled by optimism about developments related to a Covid-19 vaccine. The Nikkei index rose 0.68% to 25,520.88 points, after reaching its …

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  • 12 November 2020 12:27 pm

    UK GDP Rebounds 15.5% QoQ in Q3

    The preliminary reading of the third quarter 2020 UK GDP came in at 15.5% QoQ vs. 15.8% expected and -19.8% last while on an annualized basis the figure stood at -9.6% vs. -9.4% expected and -21.5% seen previously.

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  • 12 November 2020 12:04 pm

    Oil Rallied on Hopes of Reversing Oversupply

    Oil prices rose during morning trading today, Thursday, extending the week’s gains to more than 11% on mounting hopes that oil producers will be Reversing Oversupply due to increasing Coronavirus cases. West Texas futures rose about 12 cents, recording $ 41.57 a barrel. While Brent futures rose by 9 cents, …

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  • 12 November 2020 2:10 am

    Tech Stocks Stage Strong Come Back in Wall Street

    The New York Stock Exchange (NYSE) showed a mixed performance on Wednesday, with tech stocks staging a recovery after a sloppy performance during the past two sessions. The Dow Jones Industrial Average declined by 23.29 points, or 0.1%, and closed at 29,339.54 points. The S&P 500 index added 27.17 points, …

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  • 12 November 2020 2:04 am

    Oil Maintains Rising Streak with Modest Gains

    Oil prices rose slightly on Wednesday, to maintain their rising trend, since positive news about the success of a Coronavirus vaccine emerged. In addition, a decline in US crude inventories supported crude prices. Brent crude futures for January delivery rose by 19 cents, or 0.4%, to close at $43.80 per …

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  • 12 November 2020 2:00 am

    Gold Returns to Losses as USD Rises

    Gold prices declined on Wednesday, returning to losses after a brief recovery on Tuesday, as demand for the yellow metal decreased since news about the COVID-19 vaccine success emerged. In addition, a rise by the US Dollar (USD) across the board, led to the precious metal price decline. Gold futures …

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  • 11 November 2020 11:30 pm

    EIA: Energy Outlook Remains Subject to COVID-19

    The Short-Term Energy Outlook (STEO) remains subject to heightened levels of uncertainty because responses to COVID-19 continue to evolve, according to the United States Energy Information Administration (EIA). Reduced economic activity related to the COVID-19 pandemic has caused changes in energy demand and supply patterns in 2020 and will continue …

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  • 11 November 2020 10:32 pm

    S&P 500 Could Hit 4,300 in 2021

    The S&P 500 index could rise by 20% and hit 4,300 points by the end of 2021, according to a recent report by Goldman Sachs that was picked up by MarketWatch. Positive news about Coronavirus vaccine trials have improved investors’ sentiment in the stock market, and an economic recovery from …

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  • 11 November 2020 9:34 pm

    Turkish Lira Up More than 4.2% Against USD

    The Turkish Lira (TRY) is recovering against the US Dollar (USD) after recently falling to new unprecedented record lows. Changes in the leadership of the Turkish central bank and the finance ministry are seemingly providing some short turn support to the Lira, which rose to its highest level against the …

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