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Market Analysis

September, 2020

  • 22 September 2020 12:35 am

    Gold Closes at Lowest Level in Two Months

    Despite a decline in risk appetite among investors, gold prices plunged on Monday as the US Dollar (USD) registered large gains. Gold futures for December delivery decreased by $51.50, or 2.6%, and settled at $1,910.60 per ounce. Earlier today, the yellow metal futures were trading below $1,889 an ounce. This …

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  • 22 September 2020 12:06 am

    NZD/USD Erases Last Week Gains Below 0.6666

    The New Zealand Dollar (NZD) registered huge losses on Monday, as the US Dollar (USD) rebounded with large gains and investors showing increased risk avoidance. After rising to its higher level in a year and a half by the end of last week, the NZD/USD pair erased its gains earlier …

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  • 21 September 2020 11:44 pm

    AUD/USD Drops Sharply with Selling Pressures

    The Australian Dollar (AUD) fell on Monday against the US Dollar (USD), mainly due to the rise of the latter and risk avoidance by investors. The AUD/USD is close to finishing the first session of the week down by 0.95% for the day at 0.7220. Earlier today, the pair reached …

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  • 21 September 2020 11:07 pm

    European Stocks Register Large Losses

    European stocks finished the first session of the week lower, amid concerns over a second wave of the Coronavirus (COVID-19) pandemic across many European countries, as well as the banking sector facing serious legal allegations. The Stoxx Europe 600 index fell by 3.35% and closed Monday at 356.43 points. The …

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  • 21 September 2020 10:23 pm

    Fed’s Kaplan Expects Unemployment Below 4% by 2023

    Interest rates in the United States are expected to remain near 0% for the next two or three years, President of the Federal Reserve Bank of Dallas Robert Kaplan said on Monday in a TV interview with Bloomberg. Kaplan further expects that unemployment rate would reach 4% or 3.5% by …

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  • 21 September 2020 8:09 pm

    Dollar Opens Week with Strong Gains

    The US Dollar (USD) is showing a strong performance against major currencies on Monday. The Dollar index (DXY), which measures the USD performance against a basket of six international currencies, is up for the day by 0.85% at 93.72 points. The index has been moving between 92.75 and 93.78, mostly …

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  • 21 September 2020 7:22 pm

    Euro Declines Amid Renewed COVID-19 Fears

    The Euro (EUR) is declining against the US Dollar (USD) on Monday, with increasing concerns about the Coronavirus (COVID-19) pandemic leaving their toll on the European currency. The EUR/USD is trading lower for the day by 0.84% at 1.1741. The pair has been moving in a range between 1.1732 and …

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  • 21 September 2020 6:44 pm

    Federal Reserve to Update Banking Rules

    The Federal Reserve began on Monday updating community-lending standards for banks operating in the United States, Reuters reported. The Fed is reportedly asking for input and feedback for potential rule changes.

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  • 21 September 2020 6:12 pm

    Wall Street Lower on Fears of Corona And Stimulus

    The main stock indices fell on Wall Street at the open Monday, September 21, as fears grew of a new blow to the country’s economy in light of concern about another round of lockdown measures due to the Coronavirus and the ability of Congress to agree on more fiscal stimulus. …

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  • 21 September 2020 5:24 pm

    Gold Drops to Its Lowest Level in Nearly Two Weeks as US Dollar Recovers

    Gold prices fell to their lowest level in about two weeks on Monday, with the rise of the dollar, while the pressure on the precious metal increased due to doubts about additional stimulus measures in speech of policymakers at the US Federal Reserve this week. Gold fell in the spot …

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  • 21 September 2020 4:41 pm

    Deutsche Bank: Global Output Will Return to Pre-COVID-19 Levels Mid-2021

    Deutsche Bank said Monday, September 21 that global economic output will return to its pre-pandemic level by mid-2021, after a stronger-than-expected economic recovery in recent months, but higher debt levels and a policy shift could increase the risk of a financial crisis. “The global economic recovery from the steepest levels …

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  • 21 September 2020 3:33 pm

    Barclays Raises Its 2020 Oil Price Forecast

    On Monday, September 21st, Barclays raised its oil price forecast for 2020 based on possible limited pressure on its demand estimates. The bank increased its forecast for the price of crude in 2020 for both Brent and US West Texas Intermediate crude by $ 2 to $ 43 and $ …

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  • 21 September 2020 2:15 pm

    European Stocks Decline on Fears of a New Lockdown

    European stocks fell for the third session in a row on Monday, September 21, weighed by fears of a growing coronavirus infection on the continent and a fall in HSBC and Standard Chartered following reports alleging that the two British banks were involved in the transfer of illicit funds. The …

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