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Market Analysis

November, 2020

  • 19 November 2020 9:09 pm

    US Home Sales Up 4.3% in October

    Home sales in the United States increased for the fifth consecutive month during October, data showed on Thursday, Reuters reported. Existing home sales increased by 4.3% to a seasonally adjusted annual rate of 6.85 million units in October, according to the National Association of Realtors. The September reading was revised …

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  • 19 November 2020 9:03 pm

    USD Rises Across the Board

    The US Dollar (USD) is showing a good performance on Thursday, supported by an improved investors’ sentiment. The Dollar Index (DXY), which measures the USD performance against a basket of six major international currencies, is up for the day by 0.24% at 92.54.

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  • 19 November 2020 8:00 pm

    US Initial Jobless Claims Rise Last Week

    The number of United Sates citizens applying for unemployment benefits increased last week, against market expectations, data showed on Thursday. This comes as the increasing number of Coronavirus cases in the states is affecting the market negatively. Initial claims for jobless benefits rose by 31,000 to a seasonally adjusted 742,000 …

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  • 19 November 2020 5:29 pm

    IMF’s Georgieva: Economic Outlook Remains Difficult And Prone to Setbacks

    Recent data shows slowing momentum in contact-intensive services industries in economies where the pandemic is resurging, International Monetary Fund (IMF) Managing Director Kristalina Georgieva said on Thursday, as reported by Reuters. “Recent data confirms continuing global recovery from the COVID-19 crisis but economic outlook remains difficult and prone to setbacks.”“Seeing …

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  • 19 November 2020 4:57 pm

    The Current Account Surplus Widened in Eurozone in September

    Data from the European Central Bank revealed that the revised current account surplus of the 19-nation eurozone expanded to 25.2 billion euros in September compared to 20.9 billion euros in August, thanks to an increase in the surplus from trade in goods and services. In the twelve months to September, …

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  • 19 November 2020 3:47 pm

    US Dollar Rises Due to The Increase in Covid-19 Cases

    The dollar rose Thursday, November 19, as widespread optimism about COVID-19 vaccines met with concerns about rising numbers of cases and risks to a fragile global economic recovery. The dollar has also been caught between opposing powers, as it received support from seeking safe haven purchases while fresh speculation about …

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  • 19 November 2020 3:06 pm

    CBRT Hikes Policy Rate by 475 Basis Points to 15%

    The Central Bank of the Republic of Turkey (CBRT) announced on Thursday that it raised its policy (one-week repo) rate by 475 basis points to 15% from 10.25%.

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  • 19 November 2020 3:04 pm

    UK’s Truss: Determined to Reach Trade Deal With Canada Before End-2020

    British Trade Minister Truss said that the UK determined ‎to reach a trade agreement with Canada before the end of the year. She said she hoped the UK would be able to move forward with the trade agreement with Canada and added, ” By no means are we entirely focused …

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  • 19 November 2020 2:09 pm

    Gold at Its Lowest Level in a Week as Hopes For a Faster Economic Recovery Increase

    Gold fell to its lowest level in a week on Thursday, November 19, as the encouraging developments related to Covid-19 vaccines boosted hopes for a faster recovery of the global economy, despite the continued increase in cases of Coronavirus. By 07:59 GMT, spot gold prices fell 0.4% to $ 1863.12 …

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  • 19 November 2020 1:34 pm

    China: Our Country is Open to Joining Regional Economic Partnership

    The Chinese Ministry of Commerce said that China is open to the idea of joining the Comprehensive and Progressive Partnership Agreement across the Atlantic. Gao Feng, the spokesman for the ministry, made the remarks at a press conference in Beijing. Last week, 15 countries from the Asia-Pacific region, including China, …

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  • 19 November 2020 1:20 pm

    ECB’s Lagarde: PEPP Was Targeted to be Temporary, Exceptional

    The European Central Bank (ECB) President Christine Lagarde added to her earlier comments and said that PEPP was targeted to be temporary, exceptional. Lagarde was speaking at the ECON Committee of the European Parliament (by videoconference). By definition ECB won’t go bankrupt or run out of money.ECB is extremely attentive …

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  • 19 November 2020 12:17 pm

    Japan Shares Decline After Tokyo Raised The Coronavirus Warning to Its Highest Level

    Japanese shares fell for the second session on Thursday, November 19, after the capital, Tokyo, issued the highest warning about the Coronavirus, as it recorded a record increase in daily cases, which raised concerns about strengthening restrictions on local economic activity. The Nikkei index fell 0.36% to 25634.34 points at …

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  • 19 November 2020 3:50 am

    Coronavirus Vaccine Could Lead to USD Depreciation

    Large-scale distribution of Coronavirus vaccines, coupled with the current monetary easing policy by the United States Federal Reserve could lead the US Dollar (USD) to weaken by as much as 20% in 2021, according to a recent report by Citibank, Reuters reported. “When viable, widely distributed vaccines hit the market, …

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