European shares remained at their highest level in ten months Thursday, December 17th, as hopes for more stimulus in the United States and possible distribution of COVID-19 vaccines in Europe boosted expectations for a global economic recovery. The German DAX index rose 1.1% to reach its highest level since February, …
Read More »Wall Street Bounces Back: Dow Surges as Trade Hopes and Fed Bets Lift Market Mood
After a turbulent week marked by financial sector jitters and political uncertainty, the Dow Jones I…
Gold Retreats from Record High as Trump Softens Stance on China
Gold’s meteoric rise hit a speed bump on Friday, slipping 2% from its all-time high after U.S. Presi…
Washington Stalemate Deepens: U.S. Government Shutdown Hits 17 Days With No End in Sight
The United States government shutdown entered its 17th day on Friday, making it the third-longest in…
Euro Holds Firm as France Restores Political Calm, While UK Faces Fiscal Strain
The euro remained stable on Friday, supported by renewed political calm in France after recent tensi…
Bitcoin’s October Slump Fuels Hope for a Major Comeback
Bitcoin’s price dropped again in October, stirring memories of past downturns that often came just b…
Washington Moves to Ease Capital Rules for Small Banks in Bid to Boost Lending
U.S. regulators are preparing a proposal aimed at giving community banks more room to lend by easing…
Swiss Franc Rises as Global Trade Worries and Rate Cut Bets Pressure the US Dollar
Trade Tensions and Rate Cut Bets Push the Dollar DownThe US Dollar is facing significant downward pr…
U.S. Futures Extend Losses as Regional Bank Worries and Geopolitical Tensions Weigh
U.S. stock index futures slipped further on Friday, extending the previous session’s selloff as rene…
Oil Prices Slip as Trump–Putin Peace Talks Ease Supply Fears
Crude on Track for 3% Weekly LossOil prices extended their decline on Friday, heading toward a weekl…
Bank of Japan Signals Continued Tightening Path Amid Global Uncertainty
The Bank of Japan (BOJ) reaffirmed its cautious yet tightening stance on Friday, as Deputy Governor …
Market Analysis
December, 2020
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17 December 2020 1:52 pm
Gold Rising as US Dollar Was Negatively Affected by The Progress of The US Stimulus
Gold prices reached a week high on Thursday, December 14th, as progress in reaching an agreement on fiscal stimulus in the United States pressed the dollar, while the yellow metal received more support thanks to the US Federal Reserve’s pledge to keep interest rates low until the economy recovers. In …
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17 December 2020 1:13 pm
SNB Leaves Key Rate Unchanged at -0.75%
The Swiss National Bank (SNB) board members announced a no change to their monetary policy settings after it concluded the December quarter monetary policy assessment on Thursday. The SNB kept the key sight deposit rate steady at -0.75% while maintaining the 3-Month Libor Target Range steady between -1.25% to -0.25%, …
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17 December 2020 12:38 pm
Japan Stocks Closing Higher on Hopes of US Stimulus
Japanese stocks closed higher for a second session Thursday (December 17th) as sentiment received a boost from expectations of further economic stimulus in the US and pledges of support from the US Federal Reserve. The benchmark Nikkei index rose 0.18% to 26,806.67 points, offsetting losses incurred in morning trade. The …
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17 December 2020 12:47 am
Fed Pledges Asset Purchases to Achieve Recovery
The United States Federal Reserve vowed in its last policy statement of 2020 to support the economy until it recovers from the Coronavirus crisis. The Fed is set to continue to buy at least $120 billion of bonds each month until substantial further progress has been made toward the Committee’s …
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17 December 2020 12:30 am
Oil Closes Higher and Maintains Upward Trend
Oil prices closed higher on Wednesday, amid hopes for a new stimulus package in the United States, and after a decline in US crude inventories last week. Crude prices maintained their best levels since early March, as the global benchmark, Brent crude futures for February delivery gained 32 cents, or …
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16 December 2020 11:37 pm
Gold Settles Higher Amid Stimulus Hopes
Gold prices rose on Wednesday, amid anticipation for a new stimulus package in the United States. The yellow metal futures for February delivery rose by $3.80, or 0.2%, to close at $1,859.10 per ounce. This is the highest closing level for gold futures since December 8.
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16 December 2020 11:04 pm
Fed Maintains Interest Rates Unchanged
The United States Federal Reserve has decided as expected to maintain interest rates near 0% during its two-day meeting that concluded on Wednesday. The Fed policy statement noted that policymakers are committed to maintaining asset purchases at at least $120 billion per month.
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16 December 2020 10:13 pm
US Crude Inventories Down 3.1 M Barrels
Crude oil inventories in the United States decreased by 3.1 million barrels last week to stand at 500 million barrels, according to the weekly report by the U.S. Energy Information Administration (EIA) released on Wednesday. Meanwhile, gasoline stockpiles rose by 1 million barrels to 238.9 million barrels and distillate stockpiles …
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16 December 2020 9:42 pm
US Business Inventories Rise in October
Business inventories in the United States grew during October by 0.7%, after rising by 0.8% in September, data by the US Department of Commerce showed on Wednesday. On an annual basis, inventories declined by 4% compared with their level in October 2019. Retail inventories increased by 0.9% in October, up …
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16 December 2020 9:30 pm
Bitcoin Exceeds $20,000 for First Time Ever
Bitcoin exceeded the $20,000 price tag for the first time in history earlier today, marking a new milestone for the world’s largest cryptocurrency. Bitcoin is trading higher for the day by around 6.6% at $20,653.75. The biggest digital currency has seen gains of around 12.4% over the next seven days.
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16 December 2020 8:36 pm
US Housing Market Index Declines in December
The United States National Association of Home Builders (NAHB) Housing Market Index (HMI) declined by four points in December to a reading of 86, compared with 90 in November. However, this is the second-highest level on record for the index. It is worth noting that any reading above 50 indicates …
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16 December 2020 8:31 pm
US Retail Sales Decline in November
Retail sales in the United States declined by more than expected during November, data by the US Department of Commerce showed on Wednesday. Last month, retail sales decreased by 1.1%, while the October reading was revised down to show a decline of 0.1% instead of an increase of 0.3% as …
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