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Market Analysis

November, 2020

  • 16 November 2020 2:32 pm

    Oil Rising on Hopes of Restricting OPEC Supply

    Oil prices rose on Monday, November 16, offsetting some of the previous session’s losses to support hopes that OPEC + will maintain the current production restrictions, overshadowing concerns about the decline in fuel demand due to the growing infection with the Coronavirus and the increase in production in Libya. Prices …

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  • 16 November 2020 2:00 pm

    Japan’s economy growing by more than 21% in Q3

    Japan’s economy grew at its fastest pace ever in Q3 of the year, rebounding strongly after the biggest downturn of the post-war era, as improved exports and consumption helped overcome the damage caused by the coronavirus pandemic. However, analysts described the exceptionally strong recovery after the previous severe recession and …

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  • 16 November 2020 1:35 pm

    Gold Reaches a Week High

    Gold touched its highest level in a week on Monday, November 16, in light of the dollar’s decline, while the escalation of Coronavirus cases in the United States fueled concerns about the repercussions of the pandemic on the economic recovery, which supported hopes for more monetary stimulus. The spot price …

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  • 16 November 2020 1:02 pm

    Japan Shares Closed 29-year Peak on Rebound in Economic Growth

    Japanese stocks touched their highest level in 29 years Monday, November 16, after the economy grew for the first time in four quarters and in light of progress towards a vaccine for Covid-19. The benchmark Nikkei Index closed 2.05% higher at 25,906.93 points, its highest close since June 1991. The …

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  • 16 November 2020 12:28 pm

    Chinese Industrial Production Rose 6.9% in October YoY

    Chinese industrial production rose faster than expected in October, while retail sales continued to recover, albeit at a slower pace than expected, as the world’s second-largest economy emerged from the recession that accompanied the spread of the Coronavirus. Data from the National Bureau of Statistics showed that Chinese industrial production …

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  • 16 November 2020 4:07 am

    Weekly Recap 9-13 Nov

    The second week of November saw two major highlights. First, it was over the past weekend that it became clear that the Democratic nominee and Former Vice President Joe Bides will be the next President of the United States after winning the elections. A projected win in the state of …

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  • 14 November 2020 2:16 am

    Oil Limits Weekly Gains on US Inventories Rise

    Oil prices declined on Friday after data showed a surprise buildup in American crude inventories yesterday, and amid the rise in new Coronavirus cases in many countries, especially in the United States. However, oil futures recorded high weekly gains, supported by positive news about a Coronavirus vaccine at the beginning …

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  • 13 November 2020 11:06 pm

    Gold Limits Weekly Decline to 3%

    Gold prices rose on Friday, recovering some of its losses earlier in the week that saw the announcement of the success of a new Coronavirus vaccine being developed by Pfizer and BioNTech. Gold futures for December delivery rose by $12.90, or 0.7%, and settled at $1,886.20 per ounce. For the …

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  • 13 November 2020 10:22 pm

    Brazil Real to Recover With Foreign Investments

    The Brazil Real (BRL) is set to recover some ground against the US Dollar (USD) as soon as foreign investors are confident in the country’s economy, according to the Brazilian Minister of Economy Paulo Guedes, Reuters reported. “When will the exchange rate go down? When there is success to attract …

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  • 13 November 2020 10:18 pm

    Fed’s Williams: Coronavirus Cases Tests Recovery

    The President of the Federal Reserve Bank of New York, John Williams, said on Friday in an interview with the Financial Times that the United States economy is recovering but remains in a deep hole. “The very large rise in COVID cases recently clearly puts a question mark on the …

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  • 13 November 2020 9:52 pm

    BoE: Not Responsible for Protecting Bank Business Models

    It is not the job of the Bank of England (BoE) to protect the business models of banks, said the Deputy Governor of the BoE, Jon Cunliffe, commenting on the future impact of digital currencies, Reuters reported. “Banks will have to adjust. Our job is to ensure that if bank …

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  • 13 November 2020 9:31 pm

    European Stocks Settle on Weekly Gains

    European stocks ended Friday nearly unchanged, but was able to record a weekly rise, supported by positive news earlier in the week about the success of a Coronavirus vaccine. The pan-European STOXX 600 index added 0.20 points but gained about 3.5% for the week.

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  • 13 November 2020 9:23 pm

    Fed’s Harker: Recovery Will Take Time

    President of the Federal Reserve Bank of Philadelphia, Patrick Harker, said on Friday that the United States economy would take some time to return to its pre-crisis levels. The Coronavirus pandemic has exacerbated inequality and accelerated automation, he added. “We’re not just going to snap right back to the previous …

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