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Market Analysis

December, 2020

  • 9 December 2020 1:42 am

    Oil Ends on Mixed Note Amid Recovery Concerns

    Oil prices showed a mixed performance on Tuesday, amid increasing concerns about the rising number of Coronavirus cases. Brent crude futures for February delivery rose by 0.10% and finished at $48.84 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures for January delivery declined by 0.4% and settled at …

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  • 9 December 2020 1:24 am

    Gold Settles at Highest Level in Three Weeks

    Gold prices rose on Tuesday for the second consecutive session, amid the decline in the US treasury yields and despite a rise by the US Dollar (USD) and renewed hopes for a new government stimulus package in the United States. Gold futures for February delivery added $8.90, or 0.5%, and …

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  • 9 December 2020 12:24 am

    US Unit Labor Costs Decline in Q3

    Unit labor costs in the United States declined during the third quarter (Q3) of the year, data by the US Department of Labor showed on Tuesday. The price of labor for each unit of output decreased by 6.6%, compared with a previously estimated 8.9%. It is worth noting that during …

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  • 8 December 2020 11:09 pm

    US Nonfarm Productivity Rises in Q3

    Nonfarm worker productivity in the United States grew during the third quarter (Q3) of the year, data by the US Department of Labor showed on Tuesday. This comes as the US economy, and especially the services sector, is recovering from the impacts of the Coronavirus crisis. Hourly output per worker …

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  • 8 December 2020 10:18 pm

    Germany Suspends Debt Ceiling Again

    The German parliament on Tuesday suspended, once again, the debt limits in the constitution to allow for increased government borrowing of up to EUR 180 billion in 2021, Reuters reported. The increased government debt aims at funding stimulus spending to help Europe’s largest economy face the economic consequences of the …

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  • 8 December 2020 9:52 pm

    USD Fluctuates with Moves in Positive Territory

    The US Dollar (USD) is showing some signs of recovery on Tuesday, after declining yesterday near its lowest level since 2018. The American currency is showing some fluctuations against major currencies but mostly moving in the positive direction as shown by the performance of the Dollar index (DXY). The DXY, …

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  • 8 December 2020 8:00 pm

    European Stocks End Mostly Higher Amid Optimism

    European stocks closed higher on Tuesday, supported by an improved sentiment regarding Coronavirus vaccines and trade talks between the European Union (EU) and the United Kingdom (UK). The Stoxx Europe 600 index closed higher by 0.2% recovering most of its losses on the first session of the week. The UK’s …

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  • 8 December 2020 5:26 pm

    Consumer Spending And Exports Drive Growth in Eurozone to a Record High

    The European Union’s statistics office said that the euro zone economy recorded the highest quarterly growth rate in the summer, recovering from a record contraction due to the Covid-19 pandemic, amid a significant increase in consumer spending and exports. Eurostat said gross domestic product (GDP) in the 19-nation bloc increased …

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  • 8 December 2020 4:58 pm

    British Pound Falling on Brexit Headlines

    The British pound recorded the biggest move in quiet trading in the currencies of the Group of Ten major countries today, Tuesday, and declined in general with the growing state of caution among investors awaiting the outcome of trade talks with Britain, which approached their last moments without reaching an …

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  • 8 December 2020 3:59 pm

    Germany’s ZEW Survey Improves in December

    The recently published Germany’s ZEW Survey showed a large improvement in the Economic Sentiment to 55.0 vs 46.0 expected and from 39 in November. The expectations component is what really shines in the report, as ZEW said in its publication: “The announcement of imminent vaccine approvals makes financial market experts …

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  • 8 December 2020 3:50 pm

    Annual GDP in Eurozone Contracts by 4.3% in Q3

    The seasonally adjusted Gross Domestic Product (GDP) expanded by 12.5% in the third quarter in the euro area, the data published by the Eurostat showed on Tuesday. On a yearly basis, the euro area GDP contracted by 4.3% in Q3 and came in slightly better than the market expectation for …

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  • 8 December 2020 3:49 pm

    EU Commission: Brexit Talks Can Continue After Transition Period Ends

    A spokesperson for the European Commission said on Tuesday that they are not excluding that Brexit talks can continue after the transition period ends, as reported by Reuters.

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  • 8 December 2020 3:26 pm

    Oil Continues Its Losses With Increasing Pessimism

    Oil prices fell on Tuesday, December 8, continuing the losses incurred in the previous session, at a time when California tightened general isolation measures to confront the Coronavirus pandemic during Christmas. Brent crude futures were down 51 cents, or 1.1%, to $ 48.28 a barrel by 07:44 GMT. US West …

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