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Market Analysis

December, 2020

  • 31 December 2020 2:43 pm

    European Stocks Declining And Heading to Close 2020 With Losses

    European stocks fell Thursday, Dec. 31, as investors settle positions on the last day of trading this year while sentiment weakens due to widespread lockdown measures in Britain and news that the United States has raised tariffs on some EU products. Trading volumes are thin, in light of the absence …

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  • 31 December 2020 2:01 pm

    Oil on track to Decline 20% in 2020 Due to Isolation And Market Eyes on Further Stimulus

    Global crude oil markets lost about a fifth of their value in 2020, as strict lockdown measures to combat the Coronavirus have crippled most of the global economy, but prices have rebounded strongly from their low levels as governments provide a stimulus. On Thursday, the last trading day in 2020, …

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  • 31 December 2020 1:19 pm

    Gold Prices Are on Track to Achieve Best Annual Performance in 10 Years

    Gold prices, on Thursday, December 31, seem to be heading to achieve the best annual performance since 2010, even at a time when the yellow metal is under pressure due to the weak prospects of providing greater financial aid in order to stimulate the US economy and the recovery of …

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  • 31 December 2020 12:35 pm

    Turkey’s Trade Deficit Rises to $5 Billion in November

    Data from the Turkish Statistics Institute showed that the country’s external trade deficit rose 153.5% year on year in November to $5.033 billion according to the general trade system. The institute said that Turkey’s exports fell 0.9% and imports rose 15.9% compared to November 2019. In the first eleven months …

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  • 31 December 2020 12:34 pm

    Asian Shares Mixed as Turbulent Year Ends

    Asian stocks swung between gains and losses during the early hours of the last trading day of 2020. While Chinese stocks benefit from improved Manfuctring activity numbers in December and coronavirus vaccine news. The MSCI Asia Pacific Index of stocks outside Japan rose 0.43%. The Australian ASX 200 is down …

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  • 31 December 2020 12:24 pm

    Gasoline Prices in The US Hit a 9-month High as Refiners Continue to Cut Production

    Gasoline prices in the United States hit a nine-month high, as drivers take to the roads in the holiday season, crude oil prices continue to rise and refiners continue to reduce fuel production due to weak profit margins. According to the American Automobile Federation, gasoline prices at gas stations exceeded …

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  • 31 December 2020 12:21 pm

    Chinese Manufacturing PMI Fell to 51.9 in December

    The manufacturing PMI fell to 51.9 in December from 52.1 last November. The Chinese economy is expected to expand about 2% for the full year at the weakest pace in more than three decades. The official PMI showed that the new export orders sub-index stood at 51.3 in December, down …

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  • 31 December 2020 12:15 pm

    Oil Prices Rise on Drop in US Crude Inventories

    Oil prices rose on Wednesday, supported by a larger-than-expected drop in crude stocks in the United States and Britain’s approval of a second anti-Corona virus vaccine, but it is under pressure from dwindling hopes for a strong recovery in demand. Brent crude futures, the global benchmark, ended the trading session …

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  • 31 December 2020 12:12 pm

    Wall Street Closed Higher on Hopes of Economic Recovery

    US stocks rallied on Wednesday as investors looked for improved economic prospects in 2021 following the distribution of vaccines to prevent Covid-19 disease and hopes for more financial support. The Dow Jones Industrial Average ended the trading session on Wall Street, up 73.89 points, or 0.24%, to 30,409.56 points, while …

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  • 31 December 2020 12:20 am

    Gold Finishes on Higher Note

    Gold prices finished Wednesday higher, supported by the decline of the US Dollar (USD) across the board. The yellow metal futures for February delivery closed higher by 0.6% at $1,893.40 per ounce. The DXY is down by 0.37% at 89.66.

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  • 30 December 2020 9:36 pm

    British Parliament Approves Brexit Trade Deal

    The British parliament has approved on Wednesday the post-Brexit trade deal with the European Union (EU). This comes a couple of days before the end of the transition period after the government of Prime Minister Boris Johnson reached an agreement with the EU regarding future relations between the two parties …

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  • 30 December 2020 9:32 pm

    European Stocks Finish Lower

    European stocks closed Wednesday on a lower note after the approval of the post-Brexit trade deal between the United Kingdom (UK) and the European Union (EU). The pan-European STOXX 600 index finished lower by 0.34%. The UK’s FTSE100 declined by 0.71%, while the French index CAC40 finished lower by 0.22%. …

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  • 30 December 2020 9:21 pm

    What Will Move Oil Prices in 2021?

    The Coronavirus pandemic has severely impacted the global oil industry, with crude prices hitting lows not seen in decades amid a decline in demand for energy in 2020. After starting the year with oil prices at $70 per barrel, supported by the recovery that was helped by the OPEC+ alliance …

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