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Market Analysis

December, 2020

  • 2 December 2020 1:54 am

    Copper Reaches Highest Levels in More than Seven Years

    Copper futures rose on Tuesday to their highest level in about seven years, continuing a strong rally supported by increased demand and strong investors’ appetite for the red metal. Strong manufacturing data in China, and relatively in the United States, are also providing support for copper. Copper futures for March …

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  • 2 December 2020 12:57 am

    Gold Shows Strong Recovery as USD Declines

    Gold prices recovered on Tuesday from its lowest level in about five months, logging its biggest daily rise in about three weeks. This comes as the US Dollar (USD) declined across the board following the release of mixed economic data. Gold futures for February delivery gained $38, or 2.1%, to …

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  • 2 December 2020 12:40 am

    Fed’s Daly: Easy Policy Must be Maintained

    The President of the Federal Reserve Bank of San Francisco, Mary Daly, said on Tuesday that the United States Federal Reserve needs to maintain its monetary easing policy during the economic recovery from the Coronavirus crisis to achieve its targets, Reuters reported. “Hitting or exceeding 2% inflation for a few …

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  • 1 December 2020 10:48 pm

    European Stocks Open December in Green

    European stocks opened the month of December with a positive performance on Tuesday, as the STOXX Europe 600 index gained 0.65% and finished at 391.90. In the UK, the main index of the London Stock Exchange (LSE), FTSE100, surged by 1.89%. In France, the CAC40 index gained 1.14%. Meanwhile, the …

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  • 1 December 2020 10:19 pm

    ISM Manufacturing PMI Declines in November

    Economic activity in the manufacturing sector in the United States expanded during November, with the overall economy notching a seventh consecutive month of growth, according to Tuesday’s data by ISM. The November Manufacturing Purchasing Managers’ Index (PMI) registered 57.5 percent, down 1.8% from the October reading of 59.3 percent. This …

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  • 1 December 2020 10:14 pm

    Canada’s Manufacturing Activity Expands in November

    Manufacturing activity in Canada maintained a good expansion pace last month, data showed on Tuesday. The headline seasonally adjusted IHS Markit Canada Manufacturing Purchasing Managers’ Index (PMI) registered 55.8 in November, up from 55.5 in October. The headline index has now posted above the 50.0 no-change threshold in each month …

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  • 1 December 2020 9:29 pm

    US Manufacturing PMI Surges in November

    The IHS Markit United States Manufacturing Purchasing Managers’ Index (PMI) showed during November the biggest improvement in operating conditions since September 2014. This comes as the seasonally adjusted IHS Markit final U.S. Manufacturing PMI posted 56.7 last month, up from 53.4 in October. It was also the seventh successive monthly …

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  • 1 December 2020 7:15 pm

    British Consumer Confidence Improves on Vaccine Progress

    Consumer confidence in the United Kingdom (UK) slightly rose during, data by YouGov showed on Tuesday, Reuters reported. This comes on the back of positive vaccine news. The YouGov index for consumer confidence in Britain increased to 102.3, up from 101.4 in the prior month.

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  • 1 December 2020 7:04 pm

    ISM Manufacturing PMI Retreats to 57.5

    The ISM’s Manufacturing PMI in November declined to 57.5 in November from 59.3 and fell short of analysts’ estimate of 58.

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  • 1 December 2020 6:54 pm

    British Factories Recorded The Fastest Growth in Nearly 3 Years in November

    A survey on Tuesday (December 1st) showed that British factories registered the fastest growth in nearly three years last month as they stockpiled raw materials and scrambled to complete work before new customs rules after Britain’s exit from the European Union came into effect on January 1. The IHS Markit …

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  • 1 December 2020 5:47 pm

    Canada: Real GDP Expands by 8.9% in Q3

    Real Gross Domestic Product (GDP) in Canada grew by 8.9% on a quarterly basis in the third quarter after contraction by 11.3% in the second quarter, the data published by Statistics Canada showed on Tuesday. On a yearly basis, the economy expanded by 40.5% in Q3 and missed the market …

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  • 1 December 2020 4:44 pm

    The Turkish Lira Drops 1% After New Measures Regarding Coronavirus

    The Turkish lira fell on Tuesday, December 1, by 1% against the dollar, after the government imposed new general isolation measures for the weekend and other measures to combat a record jump in infections and deaths from the Coronavirus. The currency fell to 7.91 by 08:30 GMT. The currency stabilized …

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  • 1 December 2020 3:45 pm

    Consumer Prices in The Eurozone Fell More Than Expected in November

    A preliminary estimate from the European Union statistics office Eurostat showed that consumer prices in the euro area fell more than an expected year on year in November, weighed by a sharp drop in energy costs. Eurostat said that inflation in the 19 euro-zone countries registered -0.3% on an annual …

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