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Market Analysis

November, 2020

  • 25 November 2020 2:28 am

    Oil Finishes at Highest Level in About Nine Months

    Oil prices continued to rally on Tuesday, achieving big gains to finish near its highest level since early March. Brent crude futures for January delivery surged by $1.80, or 3.9%, to close at $47.86 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures for January delivery soared by $1.85, …

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  • 24 November 2020 11:00 pm

    Gold Prices Fall for Second Day in Row

    Gold prices continued to make big losses on Tuesday, for the second consecutive session, amid improved risk appetite and aversion from safe havens, on the back of positive news about Coronavirus vaccines. In addition, an expected smooth transition in the US administration from the incumbent president to the president-elect helped …

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  • 24 November 2020 10:42 pm

    USD Declines amid Increased Risk Appetite

    The US Dollar (USD) is declining across the board on Tuesday, on the back of higher risk appetite that comes supported by recent positive news about Coronavirus vaccines. The Dollar index (DXY), which measures the USD performance in front of a basket of six major international currencies, is down by …

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  • 24 November 2020 10:39 pm

    European Stocks Close Higher

    European stocks closed Tuesday higher, supported by an improved risk appetite and positive news about Coronavirus vaccine candidates. The STOXX Europe 600 index rose by 0.83%, to finish at 392.05 points. The UK’s FTSE100 increased by 1.55%, while the German index DAX gained 1.26%. Meanwhile, the French index CAC40 settled …

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  • 24 November 2020 9:30 pm

    Dow Hits New All-Time High

    The Dow Jones Industrial Average index surged on Tuesday, supported by gains by major stocks listed on the New York Stock Exchange (NYSE), or Wall Street, as well as the beginning of the transition from the Trump administration to that of President-elect Joe Biden. The index broke the 30,000-point mark …

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  • 24 November 2020 8:08 pm

    US Consumer Confidence Declines in November

    The Conference Board’s index of consumer confidence in the United States declined to 96.1 in November, down from a revised reading of 101.4 in October, data showed on Tuesday. This comes as the rising number of new Coronavirus cases across the states pushed down consumer confidence. “Heading into 2021, consumers …

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  • 24 November 2020 6:36 pm

    Richmond Federal Reserve Manufacturing Index Falls to 15

    The Federal Reserve Bank of Richmond’s Manufacturing Index declined in November, data showed on Tuesday. The index dropped to 15 from a previous reading of 29 in October. However, the index remained firmly in expansionary territory, as all three component indexes — shipments, new orders, and employment — had positive …

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  • 24 November 2020 5:42 pm

    US: Philly Fed Nonmanufacturing Index slumps to 5.3 in November

    The headline Diffusion Index of the Federal Reserve Bank of Philadelphia’s Nonmanufacturing Business Outlook Survey fell sharply to 5.3 in November, the lowest reading since June, from 25.3 in October, the monthly data showed on Tuesday.

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  • 24 November 2020 4:22 pm

    UK Retail Sales Post The Biggest Drop Since June

    A survey showed that British retail sales recorded the biggest drop since June this month under isolation measures in most parts of the country, but the decline was less than most economists feared, as online sales absorbed part of the decline. The Confederation of British Industry said its index of …

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  • 24 November 2020 3:43 pm

    Turkish Lira Down 2% Against US Dollar

    The Turkish lira fell by up to 2% to more than 8 lira against the dollar on Tuesday, November 24, to continue its losses this week as investors exploited a strong recent rise to form positions of currencies and gold. The pound fell to 8.05 against the US currency, compared …

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  • 24 November 2020 3:18 pm

    Bitcoin Crosses $19,000 For The First Time Since December 2017

    Bitcoin hit $19,000 on Tuesday, November 24 for the first time in nearly three years, and is close to reaching an all-time high of just under $ 20,000. The world’s most popular cryptocurrency increased about 160% this year, supported by demand for riskier assets amid unprecedented fiscal and monetary stimulus …

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  • 24 November 2020 2:31 pm

    AUD and EUR Rise With The Start of Transition Process

    Riskier currencies like the Australian dollar surged on Tuesday (November 24th) after US President Donald Trump authorized the transfer of power to President-elect Joe Biden. The New Zealand dollar was one of the biggest gainers, up by 0.9%, rising to its highest level in two years at $ 0.6985, after …

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  • 24 November 2020 2:03 pm

    Brent Rises to Highest Level Since March

    Brent crude prices reached their highest levels since March, as news of a promising third Coronavirus vaccine supported hopes for a faster recovery in oil demand, while US President-elect Joe Biden received the green light to start the transition process for his leadership. By 07:44 GMT, Brent crude futures increased …

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