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Market Analysis

January, 2021

  • 8 January 2021 4:46 pm

    UK: MHRA Approves Moderna COVID-19 Vaccine For Use

    The British health ministry announced on Friday that the UK’s Medicines and Healthcare Products Regulatory Agency (MHRA) has approved Moderna’s COVID-19 vaccine for use, as reported by Reuters. The health ministry further noted that they have ordered 10 million additional doses of Moderna’s vaccine to bring the total to 17 million …

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  • 8 January 2021 4:28 pm

    German Industrial Output And Exports Rose in November

    Data showed German industrial output and exports rose in November, adding to indications that the export-dependent manufacturing sector gave momentum to Europe’s largest economy in the last quarter of the year. Industrial output increased 0.9% on a monthly basis and exports rose 2.2%, according to figures released by the Federal …

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  • 8 January 2021 3:32 pm

    European Stocks on Track to Post a Strong Weekly Performance And The German DAX Rises to a Record High

    European stocks rose Friday, January 8th, while the German DAX index hit a record high on the back of better-than-expected economic data and encouraging earnings updates from chipmakers. The European STOXX600 index rose 0.7% by and heading towards a weekly gain of more than 3% in light of hopes that …

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  • 8 January 2021 3:00 pm

    Currencies Overview: The Dollar holds Onto Gains as The US Jobs Report Approaches

    The dollar held on to its biggest gains in more than two months against the major counterpart currencies on Friday, January 8th, as high US bond yields abandoned some bets on the dollar’s decline. The US currency rebounded from its lowest level in nearly three years, while traders reaped profits …

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  • 8 January 2021 2:18 pm

    EU: Euro area Unemployment Rate Declined in November

    The seasonally adjusted Unemployment Rate in the euro area declined to 8.3% in November from 8.4% in October, the data published by the Eurostat showed on Friday. This reading came in better than the market expectation of 8.5%.

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  • 8 January 2021 2:06 pm

    Oil Near an 11-Month Peak, Thanks to a Saudi Pledge to Cut Production

    Oil prices held near an 11-month high on Friday (January 8th) and is on track for strong weekly gains as Saudi Arabia’s pledge to cut production continued to support market sentiment. Brent crude rose 13 cents, or 0.2%, to $ 54.51 a barrel. The global benchmark touched $54.90 on Thursday, …

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  • 8 January 2021 1:48 pm

    Gold Falls as Bond Yields Rise And Pressure From a Rising Dollar

    Gold fell on Friday, January 8th, as the dollar and US Treasury yields rose, but hopes for additional stimulus in the world’s largest economy kept the yellow metal on track for gains for the second week in a row. Spot gold fell 0.3% to 1,907.66 dollars but it has risen …

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  • 8 January 2021 1:00 am

    Oil Maintains Gains for Third Day

    Oil prices rose on Thursday for the third consecutive session, supported by the recent OPEC+ agreement to curb output and the large drop in crude inventories in the United States. Brent crude futures for March delivery closed higher by 8 cents, or 0.2%, at $54.38 per barrel. Meanwhile, the West …

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  • 8 January 2021 12:30 am

    Gold Shows Some Recovery Signs

    Gold prices rose on Thursday, recovering some of its big losses on Wednesday, which were due to the surge in Treasury yields in the United States and were the first in a week. With Democrats taking over a majority in the U.S. Senate, more fiscal stimulus spending is expected, which …

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  • 8 January 2021 12:15 am

    Bitcoin Trades Above $40,000 for First Time Ever

    Bitcoin continued its rising rally on Thursday, going above $40,000 for the first time ever, supported by a recent surge in demand especially from institutional investors. This means that the market value of the world’s largest digital briefly exceeded $1 trillion today. Bitcoin, the biggest cryptocurrency in the world, has …

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  • 7 January 2021 10:31 pm

    European Stocks Close in Green

    European stocks closed higher on Thursday, supported by the gains of the construction and commodity sectors. In addition, global markets were affirmed by the confirmation of the election of Joe Biden to be the next President of the United States, after riots erupted in Washington D.C. on Wednesday causing concerns …

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  • 7 January 2021 9:21 pm

    Goldman Sachs Sees Democrats Spending $750 M in Extra Stimulus

    Goldman Sachs expects new government stimulus spending in the United States at around $750 billion during the first quarter (Q1) of 2021, after Democrats gained a majority in the U.S. Senate after winning the Georgia elections. This means that the Democratic Party will be in control of both the White …

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  • 7 January 2021 8:42 pm

    Facebook and Instagram to Block Trump’s Accounts for Two Weeks

    Social media platforms, Facebook and Instagram, will impose a suspension on the official accounts of the President of the United States, Donald Trump, for at least two weeks, until the end of his presidency term, the CEO of Facebook Inc. Mark Zuckerberg revealed. This comes after Facebook and Instagram, as …

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