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Market Analysis

December, 2020

  • 11 December 2020 1:05 pm

    Oil Continues to Rise on The Launch of Vaccination

    Oil rose today, Friday, to consolidate strong gains made overnight that saw Brent crude exceed $50 for the first time since March, as the implementation of coronavirus vaccination programs fueled hopes that demand for oil will rebound next year. Brent crude rose 30 cents, or 0.6%, to $50.55 a barrel, …

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  • 11 December 2020 12:27 pm

    Nikkei Posts First Weekly Loss in 6 Weeks Due to Brexit And Virus Fears

    Japan’s Nikkei index fell on Friday, posting its first weekly loss in six weeks, as risk appetite waned due to the uncertainty surrounding Brexit, US stimulus and concerns about a spike in COVID-19 cases. The Nikkei fell 0.39% to close at 26,652.52 points, losing 0.37%for the week. But the broader …

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  • 11 December 2020 12:34 am

    USD at Lowest Level Since April 2018

    The US Dollar (USD) declined on Thursday to its lowest level since April 2018, amid anticipation for a new stimulus package and news about the rollout of Coronavirus vaccines in the United States. The decline also comes after the European Central Bank (ECB) decided to maintain interest rates and expanded …

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  • 11 December 2020 12:24 am

    Oil Closes Higher on Vaccine Optimism

    Oil prices rose on Thursday, supported by a positive investors’ sentiment regarding Coronavirus vaccines. The global benchmark, Brent crude futures rose above the $50 a barrel mark for the first time since March, adding $1.53, or 3.13%, to settle at $50.39 per barrel. Meanwhile, the US benchmark West Texas Intermediate …

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  • 10 December 2020 10:43 pm

    Gold Settles Lower Following ECB Meeting

    Gold prices settled lower on Thursday, despite the decline of the US Dollar (USD), amid improved investors’ sentiment and anticipation for new Coronavirus vaccines and the outcomes of Brexit talks. The decline also comes following the European Central Bank’s (ECB) decision to expand its stimulus program and maintain interest rates. …

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  • 10 December 2020 10:27 pm

    Airbnb to Double Share Price in IPO

    Airbnb is expected to double its share price in its initial public offering (IPO) debut on Thursday, CNBC reported. Shares, priced at $68 on Wednesday, are now forecast to go as high as $155.5 when the stock starts trading on the New York Stock Exchange (NYSE). This will raise the …

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  • 10 December 2020 10:23 pm

    Lagarde: Economy to Operate Normally by End of 2021

    The President of the European Central Bank (ECB), Christine Lagarde, said on Thursday that the decision to extend the ECB stimulus program comes as the Eurozone is expected to achieve herd immunity from the Coronavirus, helping the economy operate normally, by the end of 2021, the Guardian reported. “We have …

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  • 10 December 2020 10:00 pm

    AUD/USD Rises to Highest Level in Two and Half Years

    The Australian Dollar (AUD) rose on Thursday against its US counterpart (USD) to reach its highest level since June of 2018. The AUD/USD pair is trading higher for the day by around 1.1% at 0.7528. The pair has been moving throughout the day in a range between 0.7427 and 0.7533, …

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  • 10 December 2020 9:52 pm

    Mnuchin to Recommend Selling $700m Loan to Successor

    The United States Treasury Secretary, Steven Mnuchin, said on Thursday that he will recommend to the next administration to consider selling the $700 million emergency government loan to YRC Worldwide at a profit. “We’ve been fortunate that the economy recovered, and that the equity is doing well and I am …

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  • 10 December 2020 9:49 pm

    BoE Eases COVID-19 Restrictions

    The Bank of England (BoE) has decided to ease some of the restrictions that it imposed on the banking sector to help face the economic consequences of the Coronavirus (COVID-19) pandemic. After suspending dividends, bonuses, and share buy-backs until the end of 2020, the BoE has told Britain’s largest banks …

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  • 10 December 2020 9:29 pm

    WTI Hits Fresh Eight-Month High

    The West Texas Intermediate (WTI) crude futures rose during Thursday’s trade to their highest level in about eight months, since early March. WTI is up by 3.84% or $1.75, trading at $47.27 a barrel. A recent agreement between members of the OPEC+ alliance to raise output by much less than …

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  • 10 December 2020 8:00 pm

    European Stocks Close Lower Following ECB Meeting

    European stocks closed lower on Thursday, following the European Central Bank’s (ECB) decision to expand its stimulus program and amid uncertainty surrounding post-Brexit trade talks between the European Union (EU) and the United Kingdom (UK). The STOXX Europe 600 index finished lower by 0.4%, despite a positive performance by oil …

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  • 10 December 2020 6:20 pm

    ECB Maintains Rates and Expands Stimulus

    The European Central Bank (ECB) has decided on Thursday to maintain interest rates unchanged, expecting its rates to remain at their present or lower levels until it has seen the inflation outlook robustly converge to a level sufficiently close to, but below, its 2% target. Moreover, the ECB board decided …

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