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Market Analysis

December, 2020

  • 23 December 2020 1:02 am

    Oil Finished Lower for Second Day in Row

    Oil prices declined for the second day in a row, amid concerns about a new variant of the novel Coronavirus and the rise of the US Dollar (USD). Brent crude futures for February delivery lost 83 cents, or 1.6%, to close at $50.08 per barrel. Meanwhile, the West Texas Intermediate …

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  • 22 December 2020 11:36 pm

    EU Making Final Push for Brexit Agreement

    The European Union (EU) is reportedly making a final push, in trade talks with the United Kingdom (UK), for an agreement for the post-Brexit stage. Fishing rights remain the issue where the biggest disagreement lies, Reuters has reported citing the EU’s chief negotiator. “We are really in a crucial moment. …

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  • 22 December 2020 11:24 pm

    EUR/USD Declines as the Greenback Rises

    The US Dollar (USD) is rising against the Euro (EUR) during Tuesday’s trading session, supported by strong demand for the greenback. The EUR/USD pair is trading lower by 0.67% at 1.2162. It has been moving today in a range between 1.2156 and 1.2257, after closing yesterday at 1.2244. The International …

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  • 22 December 2020 11:09 pm

    USD Maintains Rising Streak

    The US Dollar (USD) is rising across the board on Tuesday, supported by improved demand on concerns about the Coronavirus. The Dollar Index (DXY), which measures the USD performance against a basket of six major international currencies, is up by 0.67% at 90.65. The index has been moving today in …

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  • 22 December 2020 11:02 pm

    Gold Closes Lower for Second Day in Row

    Gold prices plunged on Tuesday, falling for the second consecutive session for the first time in about two weeks. Moreover, the yellow metal futures saw their biggest decline since the beginning of the month, amid a positive performance by the US Dollar (USD). Gold futures for February delivery decreased by …

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  • 22 December 2020 9:10 pm

    US Existing Homes Sales Fall in November

    Existing homes sales in the United States decreased for the first time in six months during November, data showed on Tuesday. Sales of previously owned homes fell by 2.5% last month, after reaching its highest level in about 15 years during October, to an annualized rate of 6.69 million units, …

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  • 22 December 2020 8:00 pm

    US Consumer Confidence Declines in December

    Consumer confidence in the United States declined for the second month in a raw in December, reaching its lowest level since August, amid a new wave of the Coronavirus pandemic. The consumer confidence index plunged to 88.6 in December from a revised reading of 92.9 in November, according to data …

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  • 22 December 2020 5:53 pm

    US: Real GDP Expands by 33.4% in Q3

    The United States’ Real Gross Domestic Product (GDP) expanded at an annual rate of 33.4% in the third quarter, the US Bureau of Economic Analysis’ third estimate showed on Tuesday. This reading beat the previous estimate and the market expectation of 33.1%.

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  • 22 December 2020 5:51 pm

    US: Philly Fed Non-manufacturing Firm-Level Business Activity Index Improves in December

    The Firm-level Business Activity Index of the Federal Reserve Bank of Philadelphia’s Nonmanufacturing Business Outlook Survey improved slightly to 5.6 in December from 5.3 in November. On a negative note, the Regional Business Activity Index slumped to -26.8 from -15.9.

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  • 22 December 2020 5:30 pm

    China Says it Will Take Action in Response to The US Visa Ban

    The Chinese Foreign Ministry said on Tuesday that Beijing will impose measures on those responsible for harming the Chinese side, in response to the ban imposed by the United States on granting Chinese officials additional entry visas. Chinese Foreign Ministry spokesman Wang Wenbin said in a press briefing that the …

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  • 22 December 2020 4:24 pm

    The European Union Receives 12.5 Million Doses of Pfizer/BioNTech Vaccine by The End of The Year

    German company BioNTech said it and US company Pfizer will supply 12.5 million doses of their Covid-19 vaccine to the European Union by the end of the year. That’s more than half of the 20 million doses expected to be delivered to the United States by the end of the …

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  • 22 December 2020 4:11 pm

    Germany Bans Entry to Those From Britain And South Africa Until January 6

    Reuters revealed that Germany imposed a travel ban on travellers from Britain, Northern Ireland and South Africa until January 6. According to Reuters, it is prohibited for railways, buses, freight and air companies to transport passengers from these destinations to Germany. added that German citizens and residents of the country …

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  • 22 December 2020 3:04 pm

    Currencies Overview: EUR and GBP Facing Pressure, US Dollar Continues to Rise

    The euro and the pound faced pressure against the dollar today, Tuesday, with the outbreak of a new strain of the Coronavirus in Britain, which led to the closure of important trade routes and caused a crisis in supply chains with the close of the deadline for concluding a trade …

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