Oil prices rose for the first time in four sessions, supported by expectations that the OPEC+ alliance will continue the current output cuts for longer than previously estimated. Brent crude futures for January delivery rose by $1.03, or 2.7%, to close at $38.97 per barrel. Meanwhile, the West Texas Intermediate …
Read More »Wall Street Bounces Back: Dow Surges as Trade Hopes and Fed Bets Lift Market Mood
After a turbulent week marked by financial sector jitters and political uncertainty, the Dow Jones I…
Gold Retreats from Record High as Trump Softens Stance on China
Gold’s meteoric rise hit a speed bump on Friday, slipping 2% from its all-time high after U.S. Presi…
Washington Stalemate Deepens: U.S. Government Shutdown Hits 17 Days With No End in Sight
The United States government shutdown entered its 17th day on Friday, making it the third-longest in…
Euro Holds Firm as France Restores Political Calm, While UK Faces Fiscal Strain
The euro remained stable on Friday, supported by renewed political calm in France after recent tensi…
Bitcoin’s October Slump Fuels Hope for a Major Comeback
Bitcoin’s price dropped again in October, stirring memories of past downturns that often came just b…
Washington Moves to Ease Capital Rules for Small Banks in Bid to Boost Lending
U.S. regulators are preparing a proposal aimed at giving community banks more room to lend by easing…
Swiss Franc Rises as Global Trade Worries and Rate Cut Bets Pressure the US Dollar
Trade Tensions and Rate Cut Bets Push the Dollar DownThe US Dollar is facing significant downward pr…
U.S. Futures Extend Losses as Regional Bank Worries and Geopolitical Tensions Weigh
U.S. stock index futures slipped further on Friday, extending the previous session’s selloff as rene…
Oil Prices Slip as Trump–Putin Peace Talks Ease Supply Fears
Crude on Track for 3% Weekly LossOil prices extended their decline on Friday, heading toward a weekl…
Bank of Japan Signals Continued Tightening Path Amid Global Uncertainty
The Bank of Japan (BOJ) reaffirmed its cautious yet tightening stance on Friday, as Deputy Governor …
Market Analysis
November, 2020
-
2 November 2020 11:37 pm
Gold Finishes Higher for Second Day
Gold prices rose on Monday for the second consecutive session, amid increasing uncertainty about the second wave of the COVID-19 pandemic and the US elections. The yellow metal futures for December delivery closed higher by $12.60, or 0.7%, at $1,892.50 per ounce. This comes after gold futures recorded an 0.8% …
Read More » -
2 November 2020 10:10 pm
Eurozone’s Economy Expected to Contract by 2.3% in Q4
The Eurozone gross domestic product (GDP) is expected to shrink by 2.3% during the fourth quarter (Q4) of 2020, according to recent forecasts by Goldman Sachs. The bank has lowered its expectations for the European bloc, after it previously estimated a contraction of 2.2%. Meanwhile, Q1 of 2021 is expected …
Read More » -
2 November 2020 9:42 pm
European Stocks Settle Higher on Economic Data
European stocks closed higher on Monday, opening both the week and the month with a positive performance, supported by strong economic data. The Stoxx Europe 600 rose by 1.53% to close at 347.59 points. Meanwhile, the UK’s FTSE100 added 1.39%, while the French CAC40 and the German DAX finished higher …
Read More » -
2 November 2020 9:37 pm
Russian Ruble Hits Record Lows
The Russian Ruble (RUB) declined on Monday against the US Dollar (USD) and the Euro (EUR), on the back of falling oil prices, and rising uncertainty about the new wave of the COVID-19 pandemic and the US elections. Year to date, the RUB has lost 23% against the USD and …
Read More » -
2 November 2020 9:28 pm
GBP Declines Ahead of New Lockdown
The British Pound (GBP) declined on Monday as the United Kingdom (UK) prepares to enter into a new lockdown to curb the spread of the Coronavirus (COVID-19) pandemic. The GBP is down by 0.34% against the Euro (EUR), with the GBP/EUR pair trading at 1.1085. Meanwhile, the Sterling losses came …
Read More » -
2 November 2020 8:41 pm
USD Rises Ahead of US Elections
The US Dollar (USD) is rising across the board, supported by positive economic data ahead of tomorrow’s elections. The Dollar index (DXY), which measures the performance of the USD against a basket of six major international currencies, is up by 0.12% at 94.15. The index has been moving today in …
Read More » -
2 November 2020 8:37 pm
USD/CHF at Two-Month High
The US Dollar (USD) is keeping its upward trend against the Swiss Franc (CHF) on Monday for the sixth consecutive session, rising to its highest level in about two months. The USD/CHF pair is trading higher for the day by 0.36% at 0.9203. The last time the pair was seen …
Read More » -
2 November 2020 6:43 pm
Finland Calls for Reviewing ECB Strategy
The Governor of the Bank of Finland, Olli Rehn, said on Monday that the European Central Bank (ECB) needs to continuously review its strategy. “I would consider it a good idea that going forward we would review the ECB’s monetary policy strategy regularly, for instance every five years.”“We have detached …
Read More » -
2 November 2020 6:29 pm
Russian Oil Companies Looking at Possible Extent of Production Cuts Q1 2021
Interfax news agency reported, citing sources, that senior managers of Russian oil companies discussed with Energy Minister Alexander Novak a possible extension of the current oil production cuts to include the first quarter of 2021. Interfax, citing a source, said that oil companies favor an extension of the existing cuts …
Read More » -
2 November 2020 6:01 pm
Goldman Sachs Cuts Its European Growth Forecast For Q4 2020
US investment bank Goldman Sachs sharply cut its economic forecast for Europe in Q4 of the year after a jump in COVID-19 cases prompted major countries to announce partial closures in November. The bank said it expected real GDP in the euro area to shrink 2.3% in Q4, a major …
Read More » -
2 November 2020 5:01 pm
Gold is Rising Amid a State of Caution Ahead of The US Elections
Gold prices rose on Monday, November 2, as investors continued to worry about the US presidential elections and an increase in COVID-19 cases, as well as economic concerns exacerbated by renewed isolation measures in some countries. Spot gold rose 0.5% to $ 1886.66 an ounce by 10:18 GMT, while US …
Read More » -
2 November 2020 4:17 pm
Volatility For Euro And Yen Increased to Highest Level Since April Ahead of US Elections
Weekly fluctuations in the euro and the yen increased to their highest levels since the beginning of April, Monday, November 2, indicating concern among dealers ahead of the US presidential elections scheduled for Tuesday. The dollar rose as investors prepared for the presidential elections, while a rise in global coronavirus …
Read More »