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Market Analysis

December, 2020

  • 29 December 2020 5:47 pm

    Oil Rises on Hopes for an Increase in Fuel Demand, With Support of US Stimulus

    Oil prices rose on Tuesday (December 29th) as investors took the risk of supporting the United States’ move to increase aid payments linked to the pandemic, which could increase demand for fuel and spur economic growth. Brent crude rose 72 cents, equivalent to 1.4%, to $51.58 a barrel, while US …

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  • 29 December 2020 4:31 pm

    Turkish Lira is at Its Highest Level Since September 3

    The Turkish lira rose by nearly 1% against the dollar to its highest level since September 3, continuing the gains that followed the country’s central bank hike of the main interest rate last week. The lira stood at 7.38 against the US Dollar in lackluster trading due to year-end holidays, …

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  • 29 December 2020 3:52 pm

    European Stocks Extend Gains, Exchange Supported by Brexit Agreement

    European stocks extended their year-end gains on Tuesday, December 29, as global growth prospects were boosted by a post-Brexit trade deal and hopes of an increase in the US stimulus package and the race among the EU countries for COVID-19 vaccine. The Euro Stoxx 600 index rose by 0.8% at …

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  • 29 December 2020 3:03 pm

    EUR/USD holds gains above 1.2200

    While the House of Representatives escalated the bill in favour of a higher relief fund but rejected Trump’s bid, all this has been in the interests of risks in Asia so far, which has pushed the US dollar index down to 90.10, down 0.21%. Markets are watching the US Senate …

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  • 29 December 2020 2:42 pm

    AUD/USD Climbs to Session Tops

    The AUD/USD pair surged during the Asian session and remained near the upper end of the daily range just below 0.7600. After pulling back from week highs, the pair managed to regain positivity with support from the US dollar selling as additional stimulus progressed from the US. the House of …

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  • 29 December 2020 1:22 pm

    Coinbase to Halt XPR Trading after SEC Suit Against Ripple Labs Inc.

    The Securities and Exchange Commission (SEC) has accused Ripple Labs Inc. of unlawful issuance of securities in the form of sales for XRP (XRPUSD), by selling more than $1 billion of the virtual tokens without registering with the agency. Later, Coinbase announced that it will halt all XRP trading starting …

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  • 29 December 2020 12:44 pm

    US Dollar is Falling Amid Optimism About Pandemic-Related Aid

    The dollar was not affected much after US President Donald Trump did not implement his threat to block an aid package for those affected by Covid-19 amid weak trading Monday due to holidays. The pound sterling hovered below its highest level in two and a half years in Asian trading, …

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  • 29 December 2020 11:57 am

    Gold rises as US Dollar Weaken Ahead of the US Senate Vote on Stimulus

    Gold prices rose on Tuesday, December 29th, buoyed by the dollar’s decline, as investors’ eyes turned to the US Senate vote on an increase in aid linked to the pandemic, but rising Asian stocks limited the gains. This rose gold in immediate transactions 0.4% to 1877.66 dollars an ounce. The …

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  • 29 December 2020 11:18 am

    US Congress Votes to Repeal President Donald Trump’s Veto Against an Annual $740 Billion Defense Spending Bill

    The House of Representatives voted Monday to repeal President Donald Trump’s veto against an annual defence spending bill and put the final steps to challenge the Republican president in the hands of the Republican-led Senate. Senate Majority Leader Mitch McConnell said his House would vote to override the veto on …

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  • 29 December 2020 10:29 am

    Oil Prices Fall as US Stimulus Concerns Dominated Demand

    The House of Representatives voted Monday to repeal President Donald Trump’s veto against an annual defence spending bill and put the final steps to challenge the Republican president in the hands of the Republican-led Senate. Senate Majority Leader Mitch McConnell said his House would vote to override the veto on …

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  • 28 December 2020 11:23 pm

    Gold Finishes Lower After Nearing $1,900

    Gold prices ended Monday lower, opening the week with a negative performance after rising earlier in the first session of the week following Christmas. The decline of gold prices comes as the US Dollar (USD) is showing some rebound sings, despite the passing of a new stimulus package. Gold futures …

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  • 28 December 2020 9:47 pm

    European Stocks Closes Monday in Green

    European stock markets opened the week on a higher note, supported by optimism after the President of the United States, Donald Trump, signed the long-awaited stimulus package. The pan-European STOXX 600 index rose by 0.68% to settle at 398.69 points. Meanwhile, the UK’s FTSE100 added 0.10% with the market reacting …

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  • 28 December 2020 9:40 pm

    USD/JPY Touches Highest Level in Two Weeks

    After opening today’s American session on a lower note, the US Dollar (USD) is showing some rebound signs, especially against the Japanese Yen (JPY). The USD/JPY pair is trading higher for the day by 0.42% at 103.86. Earlier, the pair touched its highest level in about two weeks at 103.90, …

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