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Market Analysis

November, 2020

  • 16 November 2020 7:41 pm

    USD Attempting Recovery from Daily Lows

    The US Dollar (USD) is attempting recovery on Monday, after spending most of the European session in the negative territory. The Dollar index (DXY), which measures the USD performance against a basket of six major international currencies, is down by 0.08% at 93.68. The index has been moving today in …

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  • 16 November 2020 7:01 pm

    Canadian Manufacturing Sales Rise in September

    Manufacturing sales in Canada increased by 1.5% to CAD 53.8 billion in September, data by Statistics Canada showed on Monday. The reading follows a monthly revised decline of 1.4% in August, from an initially estimated 2% decrease.

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  • 16 November 2020 6:10 pm

    US: NY Empire State Manufacturing Index Drops to 6.3 in November

    The headline General Business Conditions Index of the NY Fed’s Empire State Manufacturing Survey fell to 6.3 in November from 10.5 in October, the NY Fed’s report revealed on Monday. This reading missed analysts’ estimate of 13.5 by a wide margin.

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  • 16 November 2020 4:41 pm

    Moderna Says Its COVID-19 Vaccine is 94.5% Effective

    Moderna said its initial, third-beta data show its coronavirus vaccine is more than 94% effective in preventing Covid-19 – a result that CEO Stéphane Bancel has called it a “game-changer”. He added, “The thing that got me the most excited today was the severe disease.” Moderna, which developed its vaccine …

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  • 16 November 2020 4:00 pm

    Risk Flows Started to Dominate Markets After Moderna Announces Longer Shelf Life For Vaccine

    Risk flows started to dominate financial markets on Monday after Moderna announced that its COVID-19 vaccine candidate is expected to remain stable at standard refrigerator temperatures of 2° to 8°c for 30 days.

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  • 16 November 2020 3:35 pm

    European Stocks Rise on Chinese Data

    European stocks rose on Monday (November 16th), hovering near nine-month highs after strong Chinese data and hopes for a COVID-19 vaccine renewed bets on a faster economic recovery. Chinese factory production increased faster than expected in October and retail sales rose as the recovery momentum in the world’s second largest …

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  • 16 November 2020 3:02 pm

    China Says it Will Boost Investment in Strategic Industries

    China’s National Bureau of Statistics said that Chinese economic growth will accelerate in the Q4 at a faster pace than in Q3. The latest data showed that Chinese industrial output rose faster than expected in October, while retail sales grew at a slower than expected pace.

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  • 16 November 2020 2:32 pm

    Oil Rising on Hopes of Restricting OPEC Supply

    Oil prices rose on Monday, November 16, offsetting some of the previous session’s losses to support hopes that OPEC + will maintain the current production restrictions, overshadowing concerns about the decline in fuel demand due to the growing infection with the Coronavirus and the increase in production in Libya. Prices …

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  • 16 November 2020 2:00 pm

    Japan’s economy growing by more than 21% in Q3

    Japan’s economy grew at its fastest pace ever in Q3 of the year, rebounding strongly after the biggest downturn of the post-war era, as improved exports and consumption helped overcome the damage caused by the coronavirus pandemic. However, analysts described the exceptionally strong recovery after the previous severe recession and …

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  • 16 November 2020 1:35 pm

    Gold Reaches a Week High

    Gold touched its highest level in a week on Monday, November 16, in light of the dollar’s decline, while the escalation of Coronavirus cases in the United States fueled concerns about the repercussions of the pandemic on the economic recovery, which supported hopes for more monetary stimulus. The spot price …

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  • 16 November 2020 1:02 pm

    Japan Shares Closed 29-year Peak on Rebound in Economic Growth

    Japanese stocks touched their highest level in 29 years Monday, November 16, after the economy grew for the first time in four quarters and in light of progress towards a vaccine for Covid-19. The benchmark Nikkei Index closed 2.05% higher at 25,906.93 points, its highest close since June 1991. The …

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  • 16 November 2020 12:28 pm

    Chinese Industrial Production Rose 6.9% in October YoY

    Chinese industrial production rose faster than expected in October, while retail sales continued to recover, albeit at a slower pace than expected, as the world’s second-largest economy emerged from the recession that accompanied the spread of the Coronavirus. Data from the National Bureau of Statistics showed that Chinese industrial production …

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  • 16 November 2020 4:07 am

    Weekly Recap 9-13 Nov

    The second week of November saw two major highlights. First, it was over the past weekend that it became clear that the Democratic nominee and Former Vice President Joe Bides will be the next President of the United States after winning the elections. A projected win in the state of …

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