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Market Analysis

January, 2021

  • 12 January 2021 7:10 pm

    UK and EU Begin Talks Over Financial Services

    The United Kingdom (UK) and the European Union (EU) are set to begin talks for an agreement about coordinating financial services, Reuters reported. The announcement was made on Tuesday by the spokesman of the British Prime Minister Boris Johnson. The aim is reportedly to reach an agreement by March. “Discussions …

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  • 12 January 2021 4:51 pm

    The New York Times: Deutsche Bank Decides to Stop Doing Business with Trump

    The New York Times reported that Deutsche Bank decided not to conduct future activities with US President Donald Trump or his companies, following the attack by his supporters on the US Congress building. Deutsche Bank is Trump’s largest lender, as Trump’s disclosures to the US Government Ethics Office and banking …

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  • 12 January 2021 4:18 pm

    Reuters: OPEC+ Compliance With Output Cuts Decline 75% in December

    OPEC

    The compliance of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, the group known as OPEC+, with oil output curbs declined to 75% in December, Reuters reported on Tuesday.

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  • 12 January 2021 4:01 pm

    US Dollar is Being Supported by High US Revenues in Light of The Possibility of New Stimulus

    The dollar held on to four-day gains against major counterpart currencies on Tuesday, as prospects for a massive fiscal stimulus pushed US yields higher. US President-elect Joe Biden, who will take office on January 20, with his Democratic Party in control of both houses of Congress, promised “trillions” of additional …

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  • 12 January 2021 2:28 pm

    European Stocks Recover With Higher Oil Prices And Travel Stocks

    European stocks stabilized today, after falling in the last session, as investors looked forward to the next earnings season and focused on the possibility of further stimulus in the United States under the next president, Joe Biden. The pan-European STOXX 600 index rose 0.4%, with the oil and gas, travel …

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  • 12 January 2021 2:01 pm

    Rising oil price on Expectations of Stockpiles Drawdown And Virus Fears

    Oil prices rose today, Tuesday, thanks to expectations of a drawdown of crude stocks in the United States for the fifth week in a row, but investors worried about the increase in cases of Coronavirus around the world curbed price gains. Brent crude futures rose 22 cents, or 0.4%, to …

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  • 12 January 2021 1:38 pm

    Nikki Closes at Its Peak of 30 Years With The Rise of Drugmakers

    Japan’s Nikkei index rose to close at its highest level in three decades on Tuesday, as drugmakers’ shares led activity thanks to a report stating that a drug manufactured by Chujai Pharmaceuticals is effective in treating Covid-19 patients. The Nikkei index rose 0.09% to 28,164.34 points, after recovering from early …

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  • 12 January 2021 1:02 pm

    White House: Trump Approves of Emergency Declaration to Washington DC For Biden Inauguration

    The White House said that US President Donald Trump agreed on Monday to declare a state of emergency for Washington, DC, between now and January 24, hours after authorities warned of security threats during the week of President-elect Joe Biden’s inauguration next week.

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  • 12 January 2021 12:29 pm

    Gold Winning as Stocks Fall Due to Troubles in Washington And Vaccine Distribution Slows

    Gold rose today, Tuesday, to recover from its lowest level in six weeks that touched it in the previous session, as stocks fell due to political turmoil in Washington and the slow pace of vaccination with anti-Covid-19 vaccines around the world. Gold rose in immediate transactions 0.8% to 1860.10 dollars …

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  • 12 January 2021 5:51 am

    Bitcoin Sees Strong Correction

    Bitcoin and other cryptocurrencies saw strong correction on Monday with profit making leading to market losses of about $200 billion in market cap. The world’s largest digital asset has been on a rising streak of late, breaking multiple consecutive records, on the back of increased demand, especially from institutional investors. …

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  • 12 January 2021 1:00 am

    Wall Street Closes in Red

    The main indices of the New York Stock Exchange (NYSE) ended Monday lower, starting the week with a negative performance after two consecutive record-breaking sessions in Wall Street last week. This comes amid increased concerns about the rising number of Coronavirus cases, however, the market remains supported by the anticipation …

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  • 11 January 2021 11:59 pm

    Oil Prices Show Mixed Performance

    Oil prices showed a mixed performance on Monday, starting the week on a negative tone amid a surge in new Coronavirus cases and a rebound by the U.S. Dollar (USD). Brent crude futures for March delivery declined by 33 cents, or 0.6%, to settle at $55.66 per barrel. Meanwhile, the …

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  • 11 January 2021 11:56 pm

    Gold Closes Higher on Rising Demand

    Gold prices rose on Monday, supported by an increased demand following the recent decline and despite the U.S. Dollar (USD) showing some rebound signs. The yellow metal futures for February delivery gained $15.40, or 0.8%, to finish at the level of $1,835.40 per ounce, opening the week with a positive …

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