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Market Analysis

September, 2020

  • 29 September 2020 1:39 am

    Wall Street Closes on Large Gains

    The New York Stock Exchange (NYSE) closed higher on Monday, starting the week with huge gains amid improved investors sentiment amid anticipation for a new stimulus package in the United States. Energy, tech, and banks stocks led the gains on the first session of the week supporting the rise of …

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  • 29 September 2020 1:31 am

    Oil Closes Higher on Stimulus Hopes

    Oil prices closed higher on Monday, amid increased hopes for a new economic stimulus package in the United States. However, rising concerns about the increasing number of COVID-19 cases in many countries limited the gains of crude prices. Brent crude futures closed higher by 51 cents, or 1.22%, at $42.43 …

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  • 29 September 2020 12:30 am

    DXY Near Closing in Losses

    The US Dollar is declining across the board against major currencies on Monday, amid selling pressures. The Dollar index (DXY), which measures the performance of the USD against a basket of six international currencies, is down by 0.39% for the day at 94.28. The index, which closed last week at …

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  • 29 September 2020 12:26 am

    US Treasury Yields Maintain Its Level

    The United States treasury yields stabilized on Monday, despite the rise of stock markets, amid increasing demand for safe havens. Return on the 10-year Treasury note remained almost unchanged at 0.661%. Yields on the 30-year bonds increased by 1.8 basis points to 1.423%. Meanwhile, the two-year note yield maintained its …

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  • 29 September 2020 12:23 am

    Gold Settles Higher as USD Declines

    Gold prices closed higher on Monday, rising in the first session of the week as the US Dollar (USD) declined across the board against major currencies. In addition, political uncertainties and the rising number of COVID-19 cases in many countries are spurring demand for safe havens. Gold futures for December …

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  • 28 September 2020 10:21 pm

    Fed’s Mester: More Actions Needed for Recovery

    President of the Federal Reserve Bank of Cleveland, Loretta Mester, said on Monday that the US economy needs more actions to guarantee its recovery from the impacts of the Coronavirus (COVID-19) “Opportunity and inclusion are important for achieving a strong economy.”“Unless actions are taken to promote an inclusive economy, the …

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  • 28 September 2020 10:08 pm

    European Stocks Open the Week with Big Gains

    European stocks closed higher on Monday, opening the week with strong gains. The STOXX Europe 600 index gained 2.2% and closed at the level of 363.39 points, supported by a strong rebound from bank stocks. In the UK, the FTSE100 index finished the first session of the week higher by …

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  • 28 September 2020 8:26 pm

    EUR/GBP Testing 0.9070

    The Euro (EUR) is declining against the British Pound (GBP) is down by 0.57% for the day, trading 0.9072, amid the strength of the latter. The pair opened Monday at the level of 0.9094 after closing last week at 0.9125. EUR/USD is moving in a range between 0.9025 and 0.9126, …

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  • 28 September 2020 8:15 pm

    USD/JPY Stable Near 105.5

    The US Dollar (USD) is showing stability against the Japanese Yen (JPY) despite mostly weakness across the board. The USD/JPY is trading at 105.55, marginally lower for the day by 0.03%. The pair has been moving in a range between 105.270 and 105.690. After closing last week at 105.58, the …

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  • 28 September 2020 8:07 pm

    GBP/USD Shows Strong Performance Above 1.200

    The British Pound (GBP) is surging in front of the US Dollar (USD) on Monday, opening the week with a strong performance amid a relevant decline by the USD. The GBP/USD is trading higher for the day by 0.88% at 1.2858 after opening today at 1.2745, a little below its …

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  • 28 September 2020 7:18 pm

    Texas Production Activity Expands in September

    The Texas factory production index increased by nine points to 22.3 in September, its highest reading in two years, according to data by the Texas Manufacturing Outlook Survey. This is the fourth consecutive monthly increase for the index, signaling recovery from the impacts of the COVID-19 pandemic. Meanwhile, future production …

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  • 28 September 2020 5:54 pm

    ECB’s Lagarde: ECB Continues to Stand Ready to Adjust All of Its Instruments

    The economic recovery in the euro area remains incomplete, uncertain and uneven, Christine Lagarde, President of the European Central Bank (ECB), reiterated while delivering her prepared remarks at the EU Committee on Economic and Monetary Affairs. “In the current environment of elevated uncertainty, the Governing Council will carefully assess all …

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  • 28 September 2020 5:38 pm

    The Turkish Lira Drops to Fresh Lows Weighted by Caucasus Conflict

    The Turkish lira fell to record levels against the dollar, the euro and the pound on Monday, September 28, in light of fears of increasing Turkey’s intervention in the rapidly escalating conflict in the Caucasus, despite the sudden interest rate hike last week in order to support the currency. The …

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