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Market Analysis

December, 2020

  • 29 December 2020 10:58 pm

    New York Authorizes JPY-Backed Stablecoin

    New York has authorized a stablecoin backed by the Japanese Yen (JPY) to operate in the United States, the Coin Telegraph reported. The stablecoin is run by the Japanese firm GMO-Z.com. “We’re breaking ground with our move to issue the first regulated JPY-pegged stablecoin, which many see as a safe …

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  • 29 December 2020 9:20 pm

    European Stocks Finish Tuesday Higher

    European stocks closed higher on Tuesday, supported by an improved risk sentiment following the approval of a new stimulus package in the United States. The STOXX Europe 600 index finished up by 0.76%. The UK’s FTSE100 gained 1.55%, while the French index CAC40 leveled up by 0.42%. In Germany, the …

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  • 29 December 2020 8:11 pm

    Will Bitcoin Peak in 2021?

    Bitcoin has been recently showing a very strong performance, supported by increased demand. The world’s largest digital currency achieved its best monthly performance in over a year during December. Market experts are now expecting the cryptocurrency to peak early next year with the recent surge come to an end in …

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  • 29 December 2020 7:38 pm

    Germany’s Exports to Grow 13% in 2021

    German exports are expected to grow by 13% in 2021, according to the BGA trade association, Reuters reported. However, the forecast needs to be dealt with in caution due to the uncertainty resulting from the Coronavirus pandemic. The President of the BGA, Anton Boerner, said that German exports could reach …

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  • 29 December 2020 6:44 pm

    UK and EU Express Relief Over Brexit Deal

    The recently agreed-upon Brexit trade deal between the United Kingdom (UK) and the European Union (EU) is a good agreement for the fisheries industry, Reuters cited a senior member of the UK’s negotiating team as saying on Tuesday. “The deal we have got recognizes UK sovereignty over our fishing waters, …

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  • 29 December 2020 5:47 pm

    Oil Rises on Hopes for an Increase in Fuel Demand, With Support of US Stimulus

    Oil prices rose on Tuesday (December 29th) as investors took the risk of supporting the United States’ move to increase aid payments linked to the pandemic, which could increase demand for fuel and spur economic growth. Brent crude rose 72 cents, equivalent to 1.4%, to $51.58 a barrel, while US …

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  • 29 December 2020 4:31 pm

    Turkish Lira is at Its Highest Level Since September 3

    The Turkish lira rose by nearly 1% against the dollar to its highest level since September 3, continuing the gains that followed the country’s central bank hike of the main interest rate last week. The lira stood at 7.38 against the US Dollar in lackluster trading due to year-end holidays, …

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  • 29 December 2020 3:52 pm

    European Stocks Extend Gains, Exchange Supported by Brexit Agreement

    European stocks extended their year-end gains on Tuesday, December 29, as global growth prospects were boosted by a post-Brexit trade deal and hopes of an increase in the US stimulus package and the race among the EU countries for COVID-19 vaccine. The Euro Stoxx 600 index rose by 0.8% at …

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  • 29 December 2020 3:03 pm

    EUR/USD holds gains above 1.2200

    While the House of Representatives escalated the bill in favour of a higher relief fund but rejected Trump’s bid, all this has been in the interests of risks in Asia so far, which has pushed the US dollar index down to 90.10, down 0.21%. Markets are watching the US Senate …

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  • 29 December 2020 2:42 pm

    AUD/USD Climbs to Session Tops

    The AUD/USD pair surged during the Asian session and remained near the upper end of the daily range just below 0.7600. After pulling back from week highs, the pair managed to regain positivity with support from the US dollar selling as additional stimulus progressed from the US. the House of …

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  • 29 December 2020 1:22 pm

    Coinbase to Halt XPR Trading after SEC Suit Against Ripple Labs Inc.

    The Securities and Exchange Commission (SEC) has accused Ripple Labs Inc. of unlawful issuance of securities in the form of sales for XRP (XRPUSD), by selling more than $1 billion of the virtual tokens without registering with the agency. Later, Coinbase announced that it will halt all XRP trading starting …

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  • 29 December 2020 12:44 pm

    US Dollar is Falling Amid Optimism About Pandemic-Related Aid

    The dollar was not affected much after US President Donald Trump did not implement his threat to block an aid package for those affected by Covid-19 amid weak trading Monday due to holidays. The pound sterling hovered below its highest level in two and a half years in Asian trading, …

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  • 29 December 2020 11:57 am

    Gold rises as US Dollar Weaken Ahead of the US Senate Vote on Stimulus

    Gold prices rose on Tuesday, December 29th, buoyed by the dollar’s decline, as investors’ eyes turned to the US Senate vote on an increase in aid linked to the pandemic, but rising Asian stocks limited the gains. This rose gold in immediate transactions 0.4% to 1877.66 dollars an ounce. The …

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