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Market Analysis

December, 2020

  • 29 December 2020 11:18 am

    US Congress Votes to Repeal President Donald Trump’s Veto Against an Annual $740 Billion Defense Spending Bill

    The House of Representatives voted Monday to repeal President Donald Trump’s veto against an annual defence spending bill and put the final steps to challenge the Republican president in the hands of the Republican-led Senate. Senate Majority Leader Mitch McConnell said his House would vote to override the veto on …

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  • 29 December 2020 10:29 am

    Oil Prices Fall as US Stimulus Concerns Dominated Demand

    The House of Representatives voted Monday to repeal President Donald Trump’s veto against an annual defence spending bill and put the final steps to challenge the Republican president in the hands of the Republican-led Senate. Senate Majority Leader Mitch McConnell said his House would vote to override the veto on …

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  • 28 December 2020 11:23 pm

    Gold Finishes Lower After Nearing $1,900

    Gold prices ended Monday lower, opening the week with a negative performance after rising earlier in the first session of the week following Christmas. The decline of gold prices comes as the US Dollar (USD) is showing some rebound sings, despite the passing of a new stimulus package. Gold futures …

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  • 28 December 2020 9:47 pm

    European Stocks Closes Monday in Green

    European stock markets opened the week on a higher note, supported by optimism after the President of the United States, Donald Trump, signed the long-awaited stimulus package. The pan-European STOXX 600 index rose by 0.68% to settle at 398.69 points. Meanwhile, the UK’s FTSE100 added 0.10% with the market reacting …

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  • 28 December 2020 9:40 pm

    USD/JPY Touches Highest Level in Two Weeks

    After opening today’s American session on a lower note, the US Dollar (USD) is showing some rebound signs, especially against the Japanese Yen (JPY). The USD/JPY pair is trading higher for the day by 0.42% at 103.86. Earlier, the pair touched its highest level in about two weeks at 103.90, …

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  • 28 December 2020 9:24 pm

    US Congress to Vote on Expanding Stimulus Package

    The United States House of Representatives will vote on Monday on raising the second government stimulus package to $2,000 per household, CNBC reported. Both the Democratic Party and President Donald Trump want to give people more money than the already approved $600 per household, while the Republican Party, which remains …

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  • 28 December 2020 7:46 pm

    NYSE Opens Week at Record Highs

    The main indices of the New York Stock Exchange (NYSE) hit new record highs on Monday, opening the week with a strong performance, after the President of the United States, Donald Trump, signed the $900 billion stimulus package that was passed by Congress. The Dow Jones Industrial Average is up …

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  • 28 December 2020 6:56 pm

    USD Opens the Week on Lower Note

    The US Dollar (USD) is trading lower against major currencies on Monday, opening the week following Christmas on a negative note. The Dollar Index (DXY), which measures the greenback performance against a basket of six international currencies, is down by 0.22% at 90.12.

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  • 28 December 2020 1:32 pm

    The Turkish lira Rising to the Highest Level Since September

    The Turkish lira rose 0.8% to less than 7.5 Lira to the dollar on Monday, its highest level since mid-September, in a continuation of last week’s gains when the central bank raised key interest rates slightly more than expected. The lira recorded 7.4950 in meagre transactions due to the year-end …

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  • 28 December 2020 1:30 pm

    Oil Cuts Losses After Trump Signs The Aid Bill

    Oil prices trimmed losses today, Monday, after US President Donald Trump signed an aid package for those affected by the Coronavirus and public spending totaling $ 2.3 trillion, but market sentiment was affected by persistent concerns about demand in the near term. With the Asian markets closed, Brent crude futures …

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  • 28 December 2020 12:39 pm

    Japan Stocks Closed Near The Peak of 3 Decades After Trump Signed The Stimulus

    Japanese shares rose in thin holiday trading on Monday, heading towards the highest level in nearly three decades, as investors continue to bet that the US stimulus and Corona vaccines will accelerate the pace of the global economic recovery. The benchmark Nikkei index ended the day 0.74% higher at 26,854.03 …

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  • 28 December 2020 11:53 am

    Currencies Overview: US Dollar Little Changed

    The dollar was not affected much after US President Donald Trump did not implement his threat to block an aid package for those affected by Covid-19 amid weak trading Monday due to holidays. The pound sterling hovered below its highest level in two and a half years in Asian trading, …

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  • 28 December 2020 11:10 am

    Gold Reaches Weekly High On US package Approval

    Gold prices rose by up to 1.3% today, Monday, as investors welcomed the signing of US President Donald Trump’s long-awaited aid package for those affected by the pandemic, as well as additional support provided by the falling dollar. With the close of the Japan Stock Exchange, the spot price of …

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