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Market Analysis

November, 2020

  • 10 November 2020 2:06 am

    NYSE Closes Monday Mixed after Vaccine News

    The New York Stock Exchange (NYSE) closed Monday mostly on big gains, after BioNTech and Pfizer announced a 90% success for their newly-developed Coronavirus vaccine. The Dow Jones Industrial Average saw its best gains since June 5 and added 834.6 points, or 2.95%, to close at 29,157.97 points. The S&P …

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  • 10 November 2020 2:01 am

    Oil Achieves Best Gains in Five Months

    Oil prices rose on Monday, supported by an improved outlook for demand recovery after it was reported that a vaccine against the Coronavirus is showing success, as announced by Pfizer earlier today. Brent crude futures for January delivery surged by $2.95, or 7.5%, to settle at $42.40 per barrel. This …

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  • 9 November 2020 11:38 pm

    Gold Futures Plunge 5% on Vaccine News

    Gold prices declined on Monday, opening the week with its biggest daily drop in more than seven years. Demand for safe havens decreased with news about positive trials for a new vaccine against the Coronavirus. Earlier today, Pfizer and BioNTech announced that a vaccine that they are developing is 90% …

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  • 9 November 2020 10:56 pm

    GBP/USD Declines Below 1.3130

    The British Pound (GBP) declined against the US Dollar (USD) on Monday, after it was reported that a new vaccine against the Coronavirus disease (COVID-19) has proved effective in more than 90% of the tested cases. The GBP/USD pair is trading lower for the day by 0.21% at 1.3129. The …

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  • 9 November 2020 9:46 pm

    Sunak: Brexit Trade Talks See Significant Progress

    Significant progress has been achieved in trade talks between the United Kingdom (UK) and the European Union (EU), according to the British Minister of Finance, Rishi Sunak. “Prime Minister Boris Johnson recently spoke with European Commission President Ursula von der Leyen. “The prime minister set out that, while some progress …

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  • 9 November 2020 8:23 pm

    European Stocks Soar on Vaccine News and Biden Win

    European stocks surged on Monday, supported by news about Pfizer and BioNTech successfully developing a vaccine against the Coronavirus disease (COVID-19), as well as the United States presidential election results. The pan-European STOXX 600 index is up by 3.9%, after rising earlier by more than 4%, achieving its best daily …

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  • 9 November 2020 8:11 pm

    Germany Wants New Page of US-Europe Trade

    The European Union (EU) and its member countries plan to reset trade relations with the next administration in the United States, German Economy Minister Peter Altmaier said on Monday, as reported by Reuters. “We will try to get a new start in trade policy between the United States and all …

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  • 9 November 2020 8:00 pm

    UK Expects 10 M Vaccine Doses in 2020

    The United Kingdom expects to receive about 10 million doses of the newly-developed Pfizer and BioNTech vaccine for COVID-19 by the end of the year, Reuters reported. The spokesman of the British Prime Minister Boris Johnson announced on Monday that the deal is pending regulatory approvals. Pharmaceutical giant Pfizer has …

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  • 9 November 2020 7:54 pm

    Biden Could Help Chinese Yuan Rise

    Investment banks are expecting the Chinese Yuan to be among the gainers from the change of leadership in the United States, Reuters reported. A Joe Biden presidency is set to see efforts to calm the rising trade tensions with China, which is expected to allow Beijing to let the value …

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  • 9 November 2020 7:48 pm

    EU Close to Deal on COVID-19 Vaccine

    The European Union (EU) is close to signing an agreement to purchase millions of doses of the new COVID-19 vaccine, which is being developed by Pfizer and BioNTech. It was announced earlier today that the vaccine has proved more than 90% efficient. Hours after the announcement was made, European lawmaker, …

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  • 9 November 2020 7:32 pm

    Haldane Hopes Vaccine Will Restore Economy Confidence

    Chief economist of the Bank of England (BoE), Andy Haldane, expressed on Monday hopes that news about a new successful COVID-19 vaccination would deliver a quick boost of confidence in the economy, Reuters reported. “I’m not close enough to know how credible today’s Pfizer announcement is, but let’s hope it …

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  • 9 November 2020 7:25 pm

    USD Rises amid Vaccine Hopes

    The US Dollar (USD) rose on Monday, after it was announced that a new vaccine against the Coronavirus disease (COVID-19) has achieved a success rate of more then 90%. The Dollar index (DXY), which measures the USD performance against a basket of six international currencies, is up by 0.39% at …

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  • 9 November 2020 6:47 pm

    S&P 500 Soars to All-time High

    The S&P 500 reached a new record high on Monday after Pfizer announced the Corona vaccine, which is more than 90% effective in preventing Covid-19, per Pfizer. At the time of writing, the index increased by 3.75% to 3,640. Meanwhile, the Dow Jones Industrial Average reached an all-time high, up …

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