Japanese stocks closed lower Monday, December 7, as the Nikkei benchmark retreated from its highest levels in more than 29 and a half years, as gains for five consecutive weeks raised some concerns from a frenzied market and prompted investors to sell for profit. Nikkei fell 0.76% to 26547.44 points, …
Read More »Weekly Recap: Markets Ignore Geopolitical Noise as Fundamental Economic Factors Take Center Stage
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Trump’s Return to Davos Puts Global Economy and Trade Order Under the Spotlight
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Gold Pauses After Record Run as Markets Lock in Profits
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Trump’s Reluctance Shakes Up the Fed Chair Race
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Inflation Takes Center Stage as Markets Brace for a Crucial Week Ahead
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Yen Gains on Intervention Fears While Dollar Holds Strong
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Dollar Set for Third Weekly Gain as Strong U.S. Data Pushes Back Rate Cut Expectations
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Bitcoin Slips After U.S. Lawmakers Delay Crypto Regulation Bill
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Market Analysis
December, 2020
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7 December 2020 9:42 am
Weekly Recap – Dec 4
Major economies overall are showing better numbers in the third quarter, but rising coronavirus cases and vaccine distribution obstacles continue to hamper economic growth. Nonfarm Payrolls (NFP) in the US rose by 245,000 in November, the data. This reading followed October’s increase of 610,000 (revised from 638,000) and missed the …
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5 December 2020 3:18 am
US Economy Awaiting Stimulus Package After Job Numbers
The United States economy created a less than expected number of new jobs last month, as per data released on Friday. November saw the smallest increase in non-farm payrolls since in six months, or since the recovery from the Coronavirus crisis began. This comes amid an increase in the number …
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5 December 2020 2:02 am
Oil Rises and Logs 2% Weekly Rise
Oil prices rose on Friday, extending its weekly gains, supported by a positive reaction to the OPEC+ move, which is seen as an indicator of market recovery signs. Brent crude futures for February delivery rose by 54 cents, or 1.1%, to finish at $49.25 per barrel. For the week, the …
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5 December 2020 1:44 am
US Oil Rigs Rise in Week
Active crude oil and natural gas rigs in the United States rose this week, for the eleventh time in 12 weeks. Oil and gas rig count increased by three to 323 in the week that ended on December 4, according to the Baker Hughes weekly report. Oil rigs alone increased …
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5 December 2020 1:37 am
Gold Declines but Scores Weekly Gains
Gold prices declined on Friday, despite the decline of the US Dollar (USD), amid improved investors’ sentiment on Coronavirus vaccine progress. Gold futures for February delivery decreased by $1.10, or 0.1%, and closed at $1,840 per ounce. For the week, the yellow metal contracts gained 2.9%. On the other hand, …
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4 December 2020 10:12 pm
Fed’s Evans Comfortable with Asset Purchases Pace
The President of the Federal Reserve Bank of Chicago, Charles Evans, said on Friday that he is comfortable with the current pace of the bond-buying program by the Fed, Reuters reported. “I am not opposed to more accommodation – I’m just not exactly sure what the right timing is.”“I don’t …
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4 December 2020 8:43 pm
Global Debt-to-GDP Ratio Seen Rising by 14%
S&P Global expects global debt to reach $200 trillion, amounting to 265% of the world’s GDP, by the end of 2020, Reuters reported. The 14% increase in the global debt-to-GDP ratio comes amid increased borrowing to face the economic consequences of the Coronavirus crisis. The ratings agency does not see …
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4 December 2020 8:37 pm
US Factory Orders Rise 1% in October
New factory orders in the United States grew by 1% in October, compared with a previous estimate of 1.3%, data by the US Department of Commerce showed on Friday. Orders for non-defense capital goods, excluding aircrafts, went up by a revised reading of 0.8% in October instead of 0.7% as …
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4 December 2020 8:28 pm
European Stocks Close Higher on Improved Sentiment
European stocks closed higher on Friday, supported by hopes for a new stimulus package in the United States and a post-Brexit trade agreement. The pan-European STOXX 600 index finished higher by 0.40% at 391.31 points. Meanwhile, the UK’s FTSE100 surged by 0.88%. The French CAC40 increased by 0.37%, while the …
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4 December 2020 6:16 pm
US Trade Deficit Rises 1.7% in October
Trade deficit in the United States increased by 1.7% during October to $63.1 billion, data by the US Department of Commerce showed on Friday. The September reading was revised to $62.1 billion instead of an initially estimated $63.9 billion deficit. Imports grew by 2.1% to $245.1 billion, while exports went …
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4 December 2020 5:46 pm
Canada: Unemployment Rate in November Falls to 8.5%
The Unemployment Rate in Canada declined to 8.5% in November from 8.9% in October, the data published by Statistics Canada showed on Friday. This reading beat analysts’ estimate of 8.9%.
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4 December 2020 5:40 pm
US Nonfarm Payrolls Rise by 245,000 in November
Nonfarm Payrolls (NFP) in the US rose by 245,000 in November, the data published by the US Bureau of Labor Statistics showed on Friday. This reading followed October’s increase of 610,000 and missed the market expectation of 469,000 by a wide margin.
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