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Market Analysis

November, 2020

  • 20 November 2020 4:27 pm

    Dollar Rises After Suspension of Some Emergency Program

    The dollar rose today, Friday, against a basket of currencies in early trade in London, reversing its downward trend when US Treasury Secretary Stephen Mnuchin called for an end to some emergency lending by the Federal Reserve (US Central Bank). Mnuchin’s move reallocates about $ 455 billion directed to the …

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  • 20 November 2020 3:22 pm

    European Stocks Supported by Gains in Retail And Oil Sectors

    European stocks rose on Friday, as gains in the retail and oil sectors erased concerns about the political situation in the United States and an impasse over new stimulus measures to support the global economy, which has been ravaged by the pandemic. The pan-European STOXX 600 index rose 0.2% and …

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  • 20 November 2020 2:41 pm

    Turkish Consumer Confidence Declined in November

    The Turkish consumer confidence index fell 2.2% to 80.1 points in November from 81.9 the previous month, indicating a state of caution after a brief improvement in light of the worsening outbreak of the Coronavirus, according to data from the Turkish Statistical Institute. The pandemic control measures brought the economy …

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  • 20 November 2020 1:45 pm

    Gold to Continue Its Weekly Decline Due to Stimulus Concerns And Vaccine Optimism

    Gold prices are heading today, Friday, to record a decline for the second week in a row, as the attractiveness of the yellow metal is under pressure from promising tests for a Covid-19 vaccine and news that the US Treasury is ending emergency loan programs. Gold fell in immediate transactions …

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  • 20 November 2020 1:07 pm

    PAJ President: Expects to Postpone OPEC+ Plan to Increase Production in January

    President of Petroleum Association of Japan, Tsutomu Sugimori expected Friday that OPEC and its allies, the group known as OPEC+, will likely delay a plan to increase production in January and stick to existing cuts of 7.7 million barrels per day. He also said that demand in Japan for gasoline …

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  • 20 November 2020 12:38 pm

    Japan Shares Drop as Sentiment Hurt by a New Wave of COVID-19

    Japanese shares fell on Friday for the third straight session, as a rise in new cases with the Coronavirus inside the country to record levels fueled fears that officials will introduce new restrictions on business activities. The Nikkei index fell 0.42% to close at 25,527.37 points. The broader TOPIX index …

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  • 19 November 2020 11:03 pm

    Gold Prices Down for Third Day in Row

    Gold prices continued to decline on Thursday for the third consecutive session, as the US Dollar (USD) rose against major currencies. Positive news about a Coronavirus vaccine and fears about renewed lockdown measures against a new wave of the pandemic seem to be balancing out with the rise of the …

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  • 19 November 2020 10:34 pm

    Lagarde Expects Negative Inflation Early Next Year

    The President of the European Central Bank (ECB), Christine Lagarde, said on Thursday that she expects inflation in the Eurozone will likely remain in the negative territory into early 2021. This comes amid renewed lockdown and preventive measures across the European continent to curb the spread of the new wave …

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  • 19 November 2020 10:30 pm

    European Stocks Finish Thursday Lower

    European stocks closed Thursday lower, amid fears about the impact of the renewed lockdown and preventive measures to curb the spread of a new wave of the Coronavirus pandemic. The pan-European Stoxx 600 index closed lower by 0.73%. The UK’s FTSE100 declined by 0.8%, while the German DAX finished lower …

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  • 19 November 2020 10:22 pm

    Kansas Manufacturing Activity Index Slows in November

    Manufacturing activity in the United States slowed during the month of November compared to its expansion pace in October, according to data by the Federal Reserve Bank of Kansas City. The Bank’s monthly report showed that its Manufacturing Survey’s composite index registered 11 in November, down from a reading of …

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  • 19 November 2020 10:16 pm

    Employment in Canada down by around 80K Jobs

    Employment in Canada declined by 79,500 during the month of October, data showed on Thursday. Job losses in the trade, transportation, and utilities sectors led the decline, according to ADP. This is the eighth consecutive month of job losses. The September reading was revised up to 564,400 lost jobs, up …

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  • 19 November 2020 9:34 pm

    US Natural Gas Inventories Rise More than Expected

    Natural gas inventories in the United States increased by 31 billion cubic feet for the week ended November 13, data by the US Energy Information Administration (EIA) showed on Thursday. The weekly rise exceeded market expectations, reaching a total of 958 trillion cubic feet, rising by 293 billion cubic feet …

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  • 19 November 2020 9:31 pm

    US Housing Starts Surge in October

    Homebuilding activity in the United States rose at a pace faster than expected during the month of October, data by the US Department of Commerce showed on Thursday. This comes as the American housing market remains supported by record-low mortgage rates. Housing starts grew by 4.9% to a seasonally adjusted …

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