The Conference Board’s index of consumer confidence in the United States declined to 96.1 in November, down from a revised reading of 101.4 in October, data showed on Tuesday. This comes as the rising number of new Coronavirus cases across the states pushed down consumer confidence. “Heading into 2021, consumers …
Read More »Weekly Recap: Markets Ignore Geopolitical Noise as Fundamental Economic Factors Take Center Stage
Global markets have demonstrated remarkable resilience in the face of a barrage of sensational geopo…
Trump’s Return to Davos Puts Global Economy and Trade Order Under the Spotlight
The annual World Economic Forum in Davos is set to unfold against a backdrop of heightened economic …
Gold Pauses After Record Run as Markets Lock in Profits
Gold prices eased slightly at the end of the trading session, closing near $4,596 per ounce, as inve…
Oil Prices End Higher as Holiday Trading and Geopolitical Risks Support the Market
Oil prices closed higher as traders positioned ahead of the U.S. holiday weekend, with lingering geo…
Trump’s Reluctance Shakes Up the Fed Chair Race
President Donald Trump signaled fresh uncertainty over the future leadership of the Federal Reserve …
Inflation Takes Center Stage as Markets Brace for a Crucial Week Ahead
The US dollar struggled to find clear direction over the past week, caught between geopolitical tens…
Markets Edge Lower as Bank Earnings Raise Caution Ahead of a Pivotal Week
U.S. equity futures traded tentatively ahead of the opening bell, reflecting investor unease as fres…
Yen Gains on Intervention Fears While Dollar Holds Strong
The Japanese yen strengthened on Friday, with USD/JPY slipping to 158.02, down 0.35%, as markets rea…
Dollar Set for Third Weekly Gain as Strong U.S. Data Pushes Back Rate Cut Expectations
The U.S. dollar edged slightly lower on Friday, but remained on track for another weekly gain as str…
Bitcoin Slips After U.S. Lawmakers Delay Crypto Regulation Bill
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Market Analysis
November, 2020
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24 November 2020 6:36 pm
Richmond Federal Reserve Manufacturing Index Falls to 15
The Federal Reserve Bank of Richmond’s Manufacturing Index declined in November, data showed on Tuesday. The index dropped to 15 from a previous reading of 29 in October. However, the index remained firmly in expansionary territory, as all three component indexes — shipments, new orders, and employment — had positive …
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24 November 2020 5:42 pm
US: Philly Fed Nonmanufacturing Index slumps to 5.3 in November
The headline Diffusion Index of the Federal Reserve Bank of Philadelphia’s Nonmanufacturing Business Outlook Survey fell sharply to 5.3 in November, the lowest reading since June, from 25.3 in October, the monthly data showed on Tuesday.
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24 November 2020 4:22 pm
UK Retail Sales Post The Biggest Drop Since June
A survey showed that British retail sales recorded the biggest drop since June this month under isolation measures in most parts of the country, but the decline was less than most economists feared, as online sales absorbed part of the decline. The Confederation of British Industry said its index of …
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24 November 2020 3:43 pm
Turkish Lira Down 2% Against US Dollar
The Turkish lira fell by up to 2% to more than 8 lira against the dollar on Tuesday, November 24, to continue its losses this week as investors exploited a strong recent rise to form positions of currencies and gold. The pound fell to 8.05 against the US currency, compared …
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24 November 2020 3:18 pm
Bitcoin Crosses $19,000 For The First Time Since December 2017
Bitcoin hit $19,000 on Tuesday, November 24 for the first time in nearly three years, and is close to reaching an all-time high of just under $ 20,000. The world’s most popular cryptocurrency increased about 160% this year, supported by demand for riskier assets amid unprecedented fiscal and monetary stimulus …
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24 November 2020 2:31 pm
AUD and EUR Rise With The Start of Transition Process
Riskier currencies like the Australian dollar surged on Tuesday (November 24th) after US President Donald Trump authorized the transfer of power to President-elect Joe Biden. The New Zealand dollar was one of the biggest gainers, up by 0.9%, rising to its highest level in two years at $ 0.6985, after …
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24 November 2020 2:03 pm
Brent Rises to Highest Level Since March
Brent crude prices reached their highest levels since March, as news of a promising third Coronavirus vaccine supported hopes for a faster recovery in oil demand, while US President-elect Joe Biden received the green light to start the transition process for his leadership. By 07:44 GMT, Brent crude futures increased …
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24 November 2020 1:36 pm
German IFO Business Climate Index Falls to 90.7 in November
The headline German IFO Business Climate Index came in at 90.7 for November, down from the previous month’s 92.7 but matched consensus estimates. Meanwhile, the Current Economic Assessment arrived at 90.0 points during the reported month as compared to last month’s 90.3 and 87.2 anticipated. On the other hand, the …
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24 November 2020 1:05 pm
Japan Shares Closed at Peak of Several Years on Vaccine Hopes And Biden
Japanese stocks closed at a multi-year high on Tuesday, November 24, as progress in developing an inexpensive vaccine to prevent the Coronavirus boosted hopes for a speedy economic recovery, and sentiment received additional support from the approval of a formal transfer of power to US President-elect Joe Biden. The Nikkei …
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24 November 2020 12:28 pm
Gold Dropping on Vaccine Hopes And Smooth Transition in The White House
Gold continued to decline to its lowest level in four months Tuesday, November 24, as investors appealed to high-risk assets after the pharmaceutical company, AstraZeneca, ignited the race for a Coronavirus vaccine and a US federal agency approved the start of procedures for the presidential transition in the United States …
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24 November 2020 1:52 am
UK Again Preparing for No Deal Brexit
The UK’s Minister of Finance, Rishi Sunak, has played down the effect of a no trade deal Brexit, in a recent interview with the Financial Times. “They may well talk, but nothing is scheduled.”“We aren’t quite at the point where leaders get involved.” Sunak did not reveal a model in …
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24 November 2020 1:42 am
Biden to Name Yellen as Treasury Secretary
The United States President-elect Joe Biden is reportedly planning to nominate the former Federal Reserve Chairwoman Janet Yellen to be the next Secretary of Treasury, the Wall Street Journal has reported.
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