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Market Analysis

December, 2020

  • 18 December 2020 6:50 pm

    Canada’s Retail Sales Rise in October

    Retail sales in Canada continued to grow during October and rose by 0.4%, data by Statistics Canada showed on Friday. The total value of retail sales increased to $54.6 billion. This is the sixth consecutive monthly rise for Canadian retail sales, after recording an unprecedented decline in April due to …

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  • 18 December 2020 5:35 pm

    British Factories See Smaller Drop in Orders in December

    A survey on Friday showed that the decline in British factory orders eased in December as more parts of the economy reopened following a second nationwide lockdown to combat the spread of the Coronavirus. The Confederation of British Industry’s measure of monthly orders books in the manufacturing sector rose to …

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  • 18 December 2020 5:29 pm

    Central Bank of Russia Keeps Key Policy Rate Unchanged at 4.25%

    Russia’s central bank announced on Friday left its policy rate unchanged at 4.25% but reiterated that it will consider the necessity of further rate cuts at its upcoming meetings, as reported by Reuters.

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  • 18 December 2020 4:39 pm

    US Dollar Increases Its Losses After a Week of Decline

    The dollar exacerbated its losses, after a week of declining pushing it to its lowest level in two and a half years, as its decline attracted more short sellers seeking to make an easy profit. The dollar index recovered during the session and rose in recent trading 0.2% at just …

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  • 18 December 2020 3:35 pm

    UK Retail Sales Drop in November With Stores Closed

    British retail sales fell last month when a four-week lockdown in England caused stores selling non-essential goods to close, dropping clothing sales by about a fifth and adding to the hardships in some of the main stores hit hardest. The Office for National Statistics said retail sales volumes overall fell …

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  • 18 December 2020 2:34 pm

    Eurozone Current Account Surplus Widened in October

    Data from the European Central Bank showed that the revised current account surplus of the 19 Eurozone countries widened to 26.6 billion euros in October from 25.2 billion in September thanks to a rise in the contribution of trade in goods and services. In the twelve months to September, the …

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  • 18 December 2020 1:56 pm

    Oil Retreating From a 9-Month Peak on Demand Concerns as COVID-19 Cases Soar

    Oil prices fell on Friday, but remained close to the nine-month peak they reached in the previous session, as rising Covid-19 cases put pressure on demand for fuel and US lawmakers are fighting over a $900 billion economic stimulus package. US West Texas Intermediate crude futures fell 17 cents, or …

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  • 18 December 2020 1:12 pm

    German IFO Business Climate Index Beats Estimates

    The headline German IFO Business Climate Index came in at 92.1 in December, stronger than last month’s 90.7 while beating the consensus estimates pointing to a reading of 90.0. Meanwhile, the Current Economic Assessment arrived at 91.3 points in the reported month as compared to last month’s 90.0 and 89.0 …

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  • 18 December 2020 1:06 pm

    Gold Heading For a Third Weekly Gain as Dealers Expect US Aid

    Gold prices retreated as the dollar rebounded after growing hopes of approval of stimulus in the United States led gold to rise for three days, putting the yellow metal on the path of achieving gains for the third week in a row. And gold in spot transactions fell 0.1% to …

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  • 18 December 2020 1:02 pm

    Nikkei Closed Lower on Virus Fears But going to score Weekly Gains

    Japan’s Nikkei index closed lower on Friday on concerns about the risks that a surge in COVID-19 cases in Tokyo posed to the prospects for a recovery in the world’s third-largest economy, but the index made weekly gains. The Nikkei index lost 0.16% to 26,763.39 points, while the broader TOPIX …

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  • 18 December 2020 2:46 am

    Wall Street Closes at New Record Highs

    The New York Stock Exchange (NYSE) closed Thursday at new record highs, supported by hopes for a new stimulus package in the United States, with Wall Street maintaining an upbeat sentiment on vaccine rollout. This comes following the last Federal Reserve meeting of the year, in which the American central …

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  • 18 December 2020 1:33 am

    Oil Maintains Gains for Fourth Day in Row

    Oil prices finished higher on Thursday, maintaining their best level in about nine months, supported by positive news about the rollout of Coronavirus vaccines. Today marked the fourth consecutive daily gain for crude futures, amid anticipation for a new stimulus package in the United States. Brent crude futures for February …

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  • 18 December 2020 1:19 am

    Gold Rises as USD Declines

    Gold prices rose on Thursday, amid a strong decline by the US Dollar (USD) after the release of the Federal Reserve policy statement, which vowed to continue easing the monetary policy. Gold futures for February delivery added $31.30, or 1.7%, to close at $1,890.40 per ounce. The yellow metal futures …

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