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Market Analysis

September, 2020

  • 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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  • 22 September 2020 1:04 pm

    Oil Settles But Recovery Concerns Persist

    There was little change in oil futures on Tuesday (September 22nd) after heavy losses overnight, as the latest hurricane receded in the Gulf of Mexico, but concerns about fuel demand continued due to an increase in coronavirus cases around the world. By 0637 GMT, Brent crude futures were down 3 …

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  • 22 September 2020 12:34 pm

    Lira Hits a Fresh Low, Ahead of CBRT

    The Turkish lira hit a record low against the dollar, as investors assess the possibility of a central bank raising interest rate during its meeting this week to limit the currency’s decline. The lira recorded 7.6440 against the dollar at 06:00 GMT, the lowest level ever after it recorded 7.6365 …

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  • 22 September 2020 12:23 pm

    Bailey: BoE’s Latest Statement Was no Negative Rate Hint

    Governor Andrew Bailey said the Bank of England’s latest policy statement did not imply it would necessarily use negative interest rates, and that observers should not read too much into it. “It doesn’t imply anything about the possibility of us using negative instruments,” Bailey told an online talk hosted by …

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  • 22 September 2020 12:15 pm

    BOE’s Bailey: UK Economy Can be Viewed as Glass Half Full or Half Empty

    “The UK economy can be viewed as a glass half full or half empty,” the Bank of England (BOE) Governor Andrew Bailey said while speaking at a webinar hosted by the British Chamber of Commerce on Tuesday. Quotes“UK recovery has been quite rapid and quite substantial.““Below the surface recovery is …

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  • 22 September 2020 10:58 am

    PBOC Sets Yuan Reference Rate at 6.7872

    The People’s Bank of China (PBOC) has set the yuan reference rate at 6.7872 versus Monday’s fix at 6.7595.

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  • 22 September 2020 10:57 am

    Powell: Fed is Committed to Use All the Tools to Help The Recovery

    Federal Reserve Chairman Jerome Powell said Monday that the US central bank remains committed to using all the tools at its disposal to help the world’s largest economy recover from the blow it took from the coronavirus pandemic. “We remain committed to using our tools to do what we can, …

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  • 22 September 2020 10:51 am

    British Newspapers: Johnson Will Ask Britons to Return to Work From Home

    The British Telegraph newspaper reported that Prime Minister Boris Johnson will encourage Britons to return to work from home if possible to help contain the outbreak of the Coronavirus. The newspaper’s chief political correspondent said in a tweet on Twitter, citing sources, that Johnson told lawmakers that “moving now means …

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  • 22 September 2020 10:45 am

    Gold Rises And New Isolation Measures Overshadow The Dollar’s Strength

    Gold rose within a narrow range Tuesday, September 22nd, as fears of a surge in COVID-19 cases across Europe addressed the pressure of the dollar’s strength on the precious metal, ahead of words for decision-makers in the US Federal Reserve this week. Gold rose in the spot market 0.1% to …

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