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Market Analysis

October, 2020

  • 16 October 2020 5:53 pm

    US Retail Sales Rise by 1.9% in September

    Retail Sales in the US rose by 1.9% on a monthly basis in September to $549.3 billion, the data published by the US Census Bureau showed on Friday. This reading followed August’s increase of 0.6% and came in better than the market expectation of 0.7%. “Nonstore retailers were up 23.8%from …

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  • 16 October 2020 5:44 pm

    U.S. Industrial Production Contracts by 0.6% in September

    Industrial Production in the United States contracted by 0.6% on a monthly basis in September, the US Federal Reserve reported on Friday. This reading missed the market expectation for an expansion of 0.5% by a wide margin. Capacity utilization for the industrial sector decreased 0.5 percentage point in September to …

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  • 16 October 2020 5:09 pm

    Canada: Manufacturing Sales decline by 2%

    Manufacturing Sales in Canada declined by 2% to $52.4 billion in August, the data published by Statistics Canada revealed on Friday. This reading followed July’s impressive increase of 7.2% and came in worse than the market expectation for a fall of 1.4%. “Excluding transportation equipment, manufacturing sales rose 1.1%,” Statistics …

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  • 16 October 2020 4:35 pm

    GBP/USD Steadies Above 1.2900 Mark, Flat-Lined Ahead of US Retail Sales

    The pair was unable to capitalize on the rally and faced heavy selling near the 1.2960 area in response to UK Prime Minister Boris Johnson’s comments regarding Brexit. Johnson said he would seek a no-deal Brexit unless there is a fundamental change in the EU approach. Johnson’s comments led to …

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  • 16 October 2020 3:42 pm

    Record Increase in Covid-19 Cases in Switzerland

    Data from the Public Health Agency in Switzerland showed today, Friday, that the number of Coronavirus cases increased by 3105, in a new daily record increase. The agency recorded 74,422 confirmed cases in total in Switzerland and the neighboring principality of Liechtenstein. Five people also died from the virus, bringing …

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  • 16 October 2020 3:27 pm

    UK PM Johnson Calls Upon Business to Get Ready For Australia Deal

    British Prime Minister Boris Johnson said on Friday that it is now the time for the businesses in the UK to get ready for an Australia-type deal with the European Union. “Given the EU have refused to negotiate seriously, I have concluded we should get ready for an Australia-style deal,” …

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  • 16 October 2020 2:47 pm

    Oil Fell on Rising in Covid-19 Cases And Strong Dollar

    Oil prices fell, as they were negatively affected by fears that a significant increase in the number of cases of Covid-19 in Europe and the United States was curbing demand in two of the largest fuel-consuming regions in the world, while the strength of the US dollar added more pressure …

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  • 16 October 2020 2:31 pm

    Nikkei Down With Sentiment Hit by Rising Covid-19 Cases in Europe

    The Nikkei index fell in the Tokyo Stock Exchange today, Friday, as new restrictions to combat the Coronavirus in Europe weakened hopes for a rapid global economic recovery, but losses were limited after Fast Retail expected positive annual profits. The Nikkei index fell 0.41% to 23,410.63 points. The broader TOPIX …

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  • 16 October 2020 1:18 pm

    Gold on The Verge of Suffering a Weekly Loss

    Gold fell today, Friday, and appears to be heading towards its first weekly loss in three weeks, while the dollar is holding on to its rally while providing more fiscal stimulus in the United States appears unlikely before the presidential election. Gold spot fell 0.2% to 1903.24 dollars an ounce …

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  • 16 October 2020 12:48 pm

    European Shares Heading For a Weekly Loss as Covid-19 Cases Soar

    European stocks rose from a two-week low, but still heading towards a weekly loss after a sell-off marked by fear of a second wave of Covid-19 cases, uncertainty related to Brexit and doubts about more fiscal stimulus in the United States. The pan-European STOXX 600 index rose 0.7% after recording …

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  • 16 October 2020 12:19 pm

    European New Car Sales Fall by 1.1% in September

    Data showed that European car sales rose slightly in September, the first increase this year, indicating a recovery in the auto sector in some European markets, as Coronavirus cases decreased. Statistics from the European Automobile Manufacturers Association (ACEA) in September showed that sales of new cars rose 1.1% Y-o-Y to …

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  • 16 October 2020 11:39 am

    Dollar Heading For a Weekly Gain as Recovery Faltered by The Pandemic

    The yen rose and the dollar is heading to achieve its best weekly performance this month today, Friday, as the rise in cases of Coronavirus and the stalled progress towards providing American stimulus caused investors’ appetite for safe assets. In light of the application of new restrictions to combat the …

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  • 16 October 2020 2:31 am

    Oil Narrows Losses on US Inventory Data

    Oil prices closed Thursday lower amid increased concerns for the second wave of the COVID-19 pandemic and its effect on the global demand recovery. Brent crude futures for December delivery decreased by 16 cents, or 0.4%, to settle at $43.16 per barrel. Meanwhile, the West Texas Intermediate (WTI) futures for …

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