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Market Analysis

November, 2020

  • 6 November 2020 12:49 pm

    Oil Declining as Covid-19 Cases Rise And Vote Count Continues in America

    US oil fell more than 2% on Friday, as new lockdown measures in Europe to stem the rise in Covid-19 cases fueled concerns about the outlook for demand, while markets remain in a state of tension due to the long-running US election counting. West Texas Intermediate crude fell $ 1.06, …

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  • 6 November 2020 11:27 am

    The Dollar Expecting More Losses on Continued Votes Count

    The dollar stabilized against several currencies on Friday, but traders say it is likely to incur more losses as the controversial US presidential election dashes hopes of a major stimulus to support the economy anytime soon. Investors are betting that Democratic candidate Joe Biden will become the next president, but …

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  • 6 November 2020 1:20 am

    NYSE Closes Higher Despite Elections Uncertainty

    The New York Stock Exchange (NYSE) closed Thursday higher, despite uncertainty about the results of the United States presidential elections. The Dow Jones Industrial Average increased by 542 points, or 1.95%, to close at 28,390.18 points. The S&P 500 gained 67.01 points, or 1.95%, and finished at 3,510.45 points. The …

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  • 6 November 2020 12:40 am

    Oil Settles Lower for First Time in Four Days

    Oil prices declined on Thursday, after rising for three consecutive sessions, amid growing concerns about the COVID-19 pandemic. Brent crude futures for January delivery lost 30 cents, or 0.7%, to finish at $40.93 per barrel. Meanwhile, the West Texas Intermediate (WTI) futures for December delivery closed lower by 36 cents, …

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  • 6 November 2020 12:37 am

    US Treasury Yields Mixed as Fed Hold Rates as Expected

    Treasury yields in the United States showed a mixed performance on Thursday, as the Federal Reserve maintained interest rates near 0%. The 10-year Treasury yield declined by 0.2 basis points to 0.77%. Return on the 30-year bond decreased by 1.2 basis points to 1.537%. Meanwhile, the return on the two-year …

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  • 6 November 2020 12:12 am

    Gold Logs Highest Daily Gains since April

    Gold prices settled on Thursday at their highest level in about seven weeks, as the US Dollar (USD) declined across the board amid uncertainty about the United States election results. Gold futures for December delivery gained $50.60, or 2.7%, and settled at $1,946.80 per ounce. This is the highest closing …

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  • 5 November 2020 11:32 pm

    Fed: Economy is Recovering but Remains Below Pre-Crisis Levels

    The United States Federal Reserve has expressed commitment to using its full range of tools to support the economy in the face of the Coronavirus crisis. The target range for the federal funds rate has been kept at 0% to 0.25% and the Fed expects it will be appropriate to …

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  • 5 November 2020 11:15 pm

    US Fed Reserve Maintains Interest Rates

    The United States Federal Reserve has maintained interest rates near 0%, noting that the American economy is still below its pre-COVID-19 levels.

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  • 5 November 2020 10:22 pm

    GBP Maintains Gains Against USD

    The British Pound (GBP) is rising against the US Dollar (USD), as the latter is declining across the board. This comes amid the continued uncertainty surrounding the outcomes of the presidential elections. The GBP/USD is trading higher by 0.81% at 1.3093. The pair has been moving in a range between …

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  • 5 November 2020 10:17 pm

    World Bank and IMF Delay 2021 Meetings

    The World Bank (WB) and the International Monetary Fund (IMF) announced on Thursday that they have decided to postpone their annual meetings, which were set to take place in Marrakesh, Morocco, in October 2021. The move comes due to the Coronavirus (COVID-19) pandemic.

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  • 5 November 2020 8:48 pm

    AUD/USD at Highest Level in Seven Weeks

    The Australian Dollar (AUD) rose against the US Dollar (USD) to its highest level in about seven weeks. This comes as the USD declined across the board amid the continued uncertainty surrounding the outcomes of the presidential elections. The AUD/USD pair is trading higher by 1.14% at 0.7264, its highest …

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  • 5 November 2020 8:21 pm

    European Stocks Finish Higher

    European stocks closed higher on Thursday, amid anticipation for election results in the United States, which seem to not have affected equity markets so far. The pan-European STOXX 600 index gained 1.18% or 4.27 points, to close at 367.58 points. The UK’s FTSE100 finished higher by 0.50%. Meanwhile, the French …

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  • 5 November 2020 8:08 pm

    USD Declines to Lowest Level in Seven Months

    The US Dollar (USD) declined on Thursday to its lowest level in about seven months, as uncertainties continue about the outcomes of the US presidential elections. The Dollar Index (DXY) is down for the day by 0.79% at 92.67. The index, which measures the USD performance against a basket of …

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