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Market Analysis

September, 2020

  • 23 September 2020 1:01 am

    European Stocks Rise Despite Uncertainty

    European stocks closed higher on Tuesday, despite concerns about the rising number of COVID-19 cases across the continent and the prospects of renewed lockdown measurements. The STOXX Europe 600 index closed higher by 0.46%. The UK’s FTSE100 gained 0.43%, while the French index CAC40 levelled up by 0.40%. Meanwhile, the …

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  • 22 September 2020 11:44 pm

    Gold Settles Lower for Second Day amid Uncertainty

    Gold prices declined on Tuesday for the second consecutive session, amid a rebound by the US Dollar (USD). This comes amid increasing uncertainty regarding the COVID-19 pandemic, with some European countries re-imposing restrictions and lockdowns to combat the spread of the virus. Gold futures for December delivery lost $3, or …

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  • 22 September 2020 11:09 pm

    DXY Maintains Rising Rally

    The US Dollar (USD) is maintaining its upward trend against major currencies on Tuesday, amid uncertainty regarding the state of the COVID-19 pandemic. The Dollar index (DXY), which measures the performance of the USD against a basket of six major international currencies, is up for the day by 0.34% at …

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  • 22 September 2020 9:50 pm

    Eurozone Consumer Confidence Rises in September

    Consumer confidence in the Eurozone increased by 0.8 points in September, compared with its level in August, according to data released by the European Commission on Tuesday. Eurozone consumer confidence increased to -13.9 from -14.7 last month, while for the entire European Union the indicator increased by 0.6 points to …

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  • 22 September 2020 8:08 pm

    US Existing Home Sales Rise to New Record in August

    Existing home sales in the United States increased during the month of August to its highest level in about 14 years, according to data by the National Association of Realtors (NAR). Existing home sales went up by 2.4% to a seasonally adjusted annual rate of 6 million units in August, …

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  • 22 September 2020 7:39 pm

    Fed’s Evans Calls for New Fiscal Stimulus

    President of the Federal Reserve Bank of Chicago Charles Evans said on Tuesday that failing to pass a new economic stimulus package could lead to a longer recession and a slower recovery, Reuters reported. “Fiscal support is just fundamental.” Evans expects the unemployment rate in the United States to decline …

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  • 22 September 2020 6:11 pm

    Richmond Fed Manufacturing Index Edges Higher in September

    The activity in the Federal Reserve’s Fifth District’s manufacturing sector expanded at a stronger pace in September than it did in August with the Composite Index of the Richmond Fed’s Survey of Manufacturing Activity rising to 21 from 18. Further details of the report showed that the Manufacturing Shipment Index declined …

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  • 22 September 2020 6:03 pm

    S&P 500 Index Opens Modestly Higher

    Major stock indices in the US opened slightly higher on Tuesday after Monday’s sharp declines. At the time of writing, the S&P 500 rose 0.45% to 3296, the Dow Jones Industrial Average gained 0.15% to 27194, and the Nasdaq Composite rose 0.6% to 10844. All major sectors in the S&P …

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  • 22 September 2020 5:22 pm

    Gold Decline With US Dollar Rose to Highest Level in 6 Weeks

    Gold fell on Tuesday, September 22, as the dollar rose to its highest level in more than a month, while investors remained skeptical about additional stimulus measures to support the economy that was affected by the Corona pandemic, ahead of words by Federal Reserve officials (the US Central Bank) this …

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  • 22 September 2020 4:57 pm

    US: Philly Fed Nonmanufacturing Index Rises to 8

    The headline Diffusion Index of the Federal Reserve Bank of Philadelphia’s Nonmanufacturing Business Outlook Survey improved to 8 in September from 1.6 in August, the monthly data showed on Tuesday. Wage and Benefit-Cost Index dropped to 13.1 in September from 14.6 in August. Firm-level Business Activity Index edged higher to …

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  • 22 September 2020 4:04 pm

    UK PM Johnson Announces New COVID-19 Restrictions

    British Prime Minister Boris Johnson announced on Tuesday that they will be introducing new COVID-19 restriction measures but noted that they will not be returning to a full lockdown as they did in March, as reported by Reuters. The PM said that they will be dropping the plan to allow …

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  • 22 September 2020 3:14 pm

    Dollar Reaching 6-week high as Traders Staying Away From Riskier Currencies

    The dollar rose on Tuesday, September 22, to a peak of six weeks, extending its gains from the previous session, as markets turn away from risk due to the increase in coronavirus cases and new isolation measures in Europe. Stocks fell on Monday as the currency market witnessed risk aversion …

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  • 22 September 2020 1:57 pm

    European Stocks Rising After Yesterday’s Losses

    European stocks rose Tuesday 22 September after falling sharply yesterday as technology and healthcare stocks rose, but concerns about new restrictions due to the Coronavirus in Britain and elsewhere continued to put pressure on travel sector stocks. The European Stoxx600 index rose 0.5% by 0716 GMT, maintaining its gains after …

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