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Market Analysis

December, 2020

  • 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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  • 30 December 2020 7:48 pm

    US Trade Deficit Widens in November

    Trade deficit in the United States rose by $4.4 billion to $84.8 billion in November, data showed on Wednesday. According to the US Census Bureau and the US Bureau of Economic Analysis exports of goods for November were $127.2 billion, $1.1 billion more than October exports, while imports of goods …

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  • 30 December 2020 7:46 pm

    US Oil Stockpiles Down 6.1 M Barrels in Week

    Crude oil inventories in the United States declined by 6.1 million barrels last week, according to the weekly report by the U.S. Energy Information Administration (EIA).

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  • 30 December 2020 7:42 pm

    USD Declines Across the Board

    The US Dollar (USD) is declining across the board on Wednesday, maintaining its downward trend. The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies is down by 0.33% at 89.69. The index has been moving today in a range between 89.56 and …

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  • 30 December 2020 7:18 pm

    Wall Street Opens Wednesday on Higher Note

    The main indices of the New York Stock Exchange (NYSE) opened Wednesday higher, supported by an improved investors’ sentiment in Wall Street. The Dow Jones Industrial Average is up by 116.5 points, or 0.38%, at 30,450.95 points. The S&P 500 gained 10.6 points, or 0.29%, at it is currently trading …

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  • 30 December 2020 6:58 pm

    China and EU Reach New Investment Deal

    The European Union (EU) and China have reportedly reached an agreement to open the Chinese market to European investors, Bloomberg reported. The deal has been negotiated for a very long time, since 2013, and it could come effective as of 2022. The EU is focused on expanding economic opportunities in …

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  • 30 December 2020 5:52 pm

    US: Trade Deficit Widens to $84.8 Billion in November

    The United States’ goods and services deficit rose by $4.4 billion to $84.8 billion in November, the data published jointly by the US Census Bureau and the US Bureau of Economic Analysis showed on Wednesday.

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  • 30 December 2020 4:37 pm

    European Union Governments Agree to Trade Agreement With Britain

    German Foreign Minister Heiko Maas said that European Union governments agreed Tuesday to the trade agreement that regulates relations between Britain and the 27-nation bloc, which paves the way for its temporary implementation from January 1. The agreement, which maintains no customs duties or quotas for Britain, to the European …

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  • 30 December 2020 4:01 pm

    Gold Settled Amid Britain’s Approval of a Vaccine And Dollar’s Decline

    Gold prices settled on Wednesday, December 30, as Britain approved an anti-Covid-19 vaccine, invented by the University of Oxford in cooperation with AstraZeneca, which boosted risk appetite, while the dollar’s decline limited precious metal losses during weak holiday transactions. There was little change in spot gold trading, at $ 1878.52 …

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  • 30 December 2020 3:25 pm

    Oxford/AstraZeneca Covid Vaccine Approved For Use in The UK

    According to the latest headlines floating on the wires, the UK confirmed that regulators have approved the use of the AstraZeneca/Oxford coronavirus vaccine. The UK health department announced that the government has accepted the recommendation by the MHRA to authorise the vaccine for use in the UK.

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  • 30 December 2020 3:24 pm

    German Health Minister: no Return to Normal Life at The Moment

    German Health Minister Jens Spahn said that the continuing high number of COVID-19 cases is not allowing a return to normal life at the present time. And Span continued, in the wake of Britain’s approval today of a new vaccine to prevent coronavirus developed by Oxford University and AstraZeneca, that …

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  • 30 December 2020 2:26 pm

    Dollar Declining on Hopes of New Stimulus

    The dollar fell to its lowest level in several years against many currencies on Wednesday, December 30th, as dealers bypassed a new delay in approving monetary stimulus in the United States and continued betting on the possibility of additional financial aid. The dollar hit its lowest level in more than …

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  • 30 December 2020 1:38 pm

    Oil Rising on Hopes of Recovery in Demand And a Decrease in US Inventories

    Oil rose on Wednesday, December 30, as prices received a boost from a fiscal stimulus package to mitigate the repercussions of the Coronavirus in the United States and lower crude oil inventories. Brent crude futures rose 35 cents, or 0.7%, to $ 51.44 a barrel by 08:03 GMT, and US …

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