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Market Analysis

December, 2020

  • 21 December 2020 2:30 pm

    GBP/USD Collapses Below 1.32

    GBP/USD has collapsed below 1.32, down some 320 pips on the day. The new covid strain in the UK causing a massive sell-off amid European travel bans and potential supply-chain issues ahead of Christmas. 

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  • 21 December 2020 2:08 pm

    French Health Minister: The Covid-19 Vaccine Supposed to Protect Against The New Strain

    French Health Minister Olivier Ferrand said that the current vaccines should protect against a new strain of the virus that recently appeared in Britain, adding that “in theory” there is no reason to believe that the vaccine will not be effective. “ Ferrand indicated that the new strain may have …

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  • 21 December 2020 1:19 pm

    The Turkish Lira Drops 1% as US Dollar Rises on Coronavirus Measures

    The Turkish lira declined 1% against the dollar, along with other currencies in emerging markets, as investors switched to the low-risk US dollar in light of a large number of countries tightening measures to contain Covid-19. The lira was at $7.7050, down from Friday’s closing level of 7.6280. The lira …

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  • 21 December 2020 12:54 pm

    Oil Falling Amid Fears of The New CoronaVirus

    Oil prices fell about 3% today, Monday, due to fears of a new rapidly spreading strain of the Coronavirus, which has caused the closure of most parts of Britain, which increased fears of a slowdown in the recovery of fuel demand amid tightening restrictions in Europe. Brent crude fell $ …

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  • 21 December 2020 12:43 pm

    Gold Jumping on Support of US Stimulus And Lockdown

    Gold rose today, Monday, to its highest in six weeks, boosted by news that leaders of the US Congress have reached an agreement on an aid package linked to the Coronavirus, while the appetite for higher-risk assets is undermined by lockdown measures in Britain, which increased support for the metal. …

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  • 21 December 2020 12:11 pm

    Weekly Recap – Dec 14-18

    2020  is drawing to a close as Brexit talks continue with the race to reach a deal between the European Union and the United Kingdom before December 31. On the other side of the ocean, US lawmakers are trying to fill loopholes in the massive stimulus bill that would provide …

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  • 19 December 2020 3:33 am

    Oil Logs Seventh Weekly Gains in Row

    Oil prices closed higher on Friday, reaching their best finishing level since February. Brent crude futures for February delivery rose by 76 cents, or 1.5%, to settle at $52.26 per barrel. This is the highest closing level for the global benchmark most active futures since February 26. For the week, …

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  • 18 December 2020 11:30 pm

    Gold Closes Lower but Logs Weekly Gains

    Gold prices closed lower on Friday, limiting their weekly rise, which was mostly supported by the decline of the US Dollar (USD). The yellow metal futures for February delivery lost $1.50, or 0.1%, to finish at $1,888.90 per ounce. For the week, gold futures gained about 2.5%. Today’s decline of …

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  • 18 December 2020 10:00 pm

    US Oil Rigs Rise for Fourth Week in Row

    The number of active oil rigs in the United States increased by five to a total of 263 this week, according to the weekly report by Baker Hughes. This is the fourth consecutive weekly rise in US oil rigs. The total active rig count in the United, including rigs drilling …

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  • 18 December 2020 9:23 pm

    Dollar Showing Some Recovery Signs

    The US Dollar (USD) is rising against international peers on Friday after it was reported that a new stimulus package could not be in the making as previously expected. The Dollar Index (DXY) is up by 0.27% at 90.06. The index has been moving in the positive territory in a …

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  • 18 December 2020 9:18 pm

    European Stocks End Friday in Red

    European stocks closed Friday lower on the negative tone recently expressed by the United Kingdom (UK) and the European Union (EU) regarding trade talks for the post-Brexit stage. The STOXX Europe 600 index finished lower by 0.3%, with the retail sector leading the losses. The UK’s FTSE100 also settled lower …

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  • 18 December 2020 8:00 pm

    UK: No-Deal Brexit Now Very Likely

    It is now very likely that a no deal Brexit will be completed by the end of the year, a spokesman for the British Prime Minister Boris Johnson said on Thursday. Talks are in a serious situation and there is no room for an agreement unless the European Union (EU) …

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  • 18 December 2020 7:04 pm

    Wall Street Opens Lower As Stimulus Hopes Decrease

    Wall Street opened Friday lower, after a record-breaking session yesterday, amid decreased hopes for a new stimulus package. The Dow Jones Industrial Average is currently down by 74 points, or 0.24%, at 30,229.29 points. The S&P 500 declined by 11.22, or 0.30%, to reach 3,711.26 points. Meanwhile, the Nasdaq  Composite …

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