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Market Analysis

November, 2020

  • 24 November 2020 3:43 pm

    Turkish Lira Down 2% Against US Dollar

    The Turkish lira fell by up to 2% to more than 8 lira against the dollar on Tuesday, November 24, to continue its losses this week as investors exploited a strong recent rise to form positions of currencies and gold. The pound fell to 8.05 against the US currency, compared …

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  • 24 November 2020 3:18 pm

    Bitcoin Crosses $19,000 For The First Time Since December 2017

    Bitcoin hit $19,000 on Tuesday, November 24 for the first time in nearly three years, and is close to reaching an all-time high of just under $ 20,000. The world’s most popular cryptocurrency increased about 160% this year, supported by demand for riskier assets amid unprecedented fiscal and monetary stimulus …

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  • 24 November 2020 2:31 pm

    AUD and EUR Rise With The Start of Transition Process

    Riskier currencies like the Australian dollar surged on Tuesday (November 24th) after US President Donald Trump authorized the transfer of power to President-elect Joe Biden. The New Zealand dollar was one of the biggest gainers, up by 0.9%, rising to its highest level in two years at $ 0.6985, after …

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  • 24 November 2020 2:03 pm

    Brent Rises to Highest Level Since March

    Brent crude prices reached their highest levels since March, as news of a promising third Coronavirus vaccine supported hopes for a faster recovery in oil demand, while US President-elect Joe Biden received the green light to start the transition process for his leadership. By 07:44 GMT, Brent crude futures increased …

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  • 24 November 2020 1:36 pm

    German IFO Business Climate Index Falls to 90.7 in November

    The headline German IFO Business Climate Index came in at 90.7 for November, down from the previous month’s 92.7 but matched consensus estimates. Meanwhile, the Current Economic Assessment arrived at 90.0 points during the reported month as compared to last month’s 90.3 and 87.2 anticipated. On the other hand, the …

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  • 24 November 2020 1:05 pm

    Japan Shares Closed at Peak of Several Years on Vaccine Hopes And Biden

    Japanese stocks closed at a multi-year high on Tuesday, November 24, as progress in developing an inexpensive vaccine to prevent the Coronavirus boosted hopes for a speedy economic recovery, and sentiment received additional support from the approval of a formal transfer of power to US President-elect Joe Biden. The Nikkei …

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  • 24 November 2020 12:28 pm

    Gold Dropping on Vaccine Hopes And Smooth Transition in The White House

    Gold continued to decline to its lowest level in four months Tuesday, November 24, as investors appealed to high-risk assets after the pharmaceutical company, AstraZeneca, ignited the race for a Coronavirus vaccine and a US federal agency approved the start of procedures for the presidential transition in the United States …

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  • 24 November 2020 1:52 am

    UK Again Preparing for No Deal Brexit

    The UK’s Minister of Finance, Rishi Sunak, has played down the effect of a no trade deal Brexit, in a recent interview with the Financial Times. “They may well talk, but nothing is scheduled.”“We aren’t quite at the point where leaders get involved.” Sunak did not reveal a model in …

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  • 24 November 2020 1:42 am

    Biden to Name Yellen as Treasury Secretary

    The United States President-elect Joe Biden is reportedly planning to nominate the former Federal Reserve Chairwoman Janet Yellen to be the next Secretary of Treasury, the Wall Street Journal has reported.

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  • 24 November 2020 1:39 am

    Wall Street Ends Monday Higher on Vaccine News

    The main indices of the New York Stock Exchange (NYSE) closed higher on Monday, opening the week with a positive performance, supported by news about the success of new Coronavirus vaccines. The Dow Jones Industrial Average finished higher by 327.79 points, or 1.12%, at 29,591.27 points. The S&P 500 index …

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  • 24 November 2020 1:28 am

    Oil Settles at Highest Level Since March

    Oil prices closed higher on Monday, opening the week with a positive performance, supported by positive news about Coronavirus vaccines. Brent crude futures for January delivery surged by $1.10, or 2.5%, to settle at $46.06 per barrel. This is the highest closing level for the global benchmark active contracts since …

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  • 24 November 2020 1:23 am

    Gold Closes with Biggest Losses in Two Weeks

    Gold prices declined on Monday, registering its biggest daily decline in about two weeks. This comes as positive news about a number of Coronavirus vaccine candidates are spurring risk appetite and reducing demand for safe havens. Gold futures for December delivery decreased by $36.40, or 1.8%, and settled at $1,837.8 …

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  • 24 November 2020 1:19 am

    Fed’s Barkin: Vaccine Could be Ready by Next Year

    The President of the Federal Reserve Bank of Richmond, Thomas Barkin, said on Monday that a Coronavirus vaccine could not be widely available until the summer of 2021, Reuters reported. This means that more Americans could struggle in the absence of government stimulus. However, Barkin is expecting a slow and …

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