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Market Analysis

January, 2021

  • 8 January 2021 11:43 pm

    Oil Prices Extends Weekly Gains on Friday

    Oil prices continued to be supported by the recent OPEC+ agreement to reduce output, led by Saudi Arabia, and the huge decline in crude inventories in the United States. Brent crude futures for March delivery rose by $1.61, or 3%, to finish the week at $55.99 per barrel, extending its …

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  • 8 January 2021 11:30 pm

    Gold Turns to Weekly Losses

    Gold prices declined on Friday, seeing their worst daily losses since last November, amid another surge in U.S. Treasury yields and the rebound of the U.S. Dollar (USD). Gold futures for February delivery dropped by $78.20, or 4.1%, and finished at $1,835.40 per ounce. Giving up the $1,900 mark, this …

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  • 8 January 2021 11:00 pm

    Bitcoin Approaches $42,000 for First Time

    The Bitcoin rally continued on Friday, as the world’s largest cryptocurrency traded as high as $41,973 earlier today. Bitcoin has now increased by about 40% since the beginning of the year. The biggest digital currency is currently trading around $41,000, up by a little over 5.7%. Bitcoin is showing its …

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  • 8 January 2021 10:59 pm

    USD Shows Some Rebound Signs

    The U.S. Dollar (USD) is showing recovery signs on Friday, finishing the week with a strong performance and rising across the board. The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is up by 0.43% at 90.22. The index has been moving …

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  • 8 January 2021 10:38 pm

    Fed’s Clarida: Vaccines Improving Economic Outlook in 2021

    The United States Federal Reserve Vice Chair Richard Clarida said on Friday that the distribution of Coronavirus vaccines is improving the outlook for the American economy in 2021, Reuters reported. “The economy has turned out to be more resilient in adapting to the virus and more responsive to monetary and …

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  • 8 January 2021 8:59 pm

    U.S. Wholesale Inventories Unchanged in November

    Wholesale inventories in the United Stated remained unchanged during November, data showed on Friday. Data by the U.S. Department of Commerce showed a stability in wholesale inventories, versus an initially estimated reading that showed a decline of 0.1%. In October, wholesale inventories rose by 1.3%. Meanwhile, the component of wholesale …

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  • 8 January 2021 7:44 pm

    U.S. Economy Loses Jobs but Unemployment Steadies

    For the first time in eight months, the United States economy saw a decline in jobs during December, amid a new wave of the Coronavirus pandemic. Data by the U.S. Department of Labor showed on Friday that Nonfarm Payrolls (NFP) declined by 140,000 in December, according to the U.S. Bureau …

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  • 8 January 2021 6:03 pm

    Canada: Net Change in Employment Arrives at -62.6K in December vs. -27.5K Expected

    Employment in Canada declined by 62,600 in December, compared to expectations of 27,500, and the Unemployment Rate ticked up to 8.6% from 8.5% in November as expected, Statistics Canada reported on Friday.

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  • 8 January 2021 5:36 pm

    Breaking: US Nonfarm Payrolls Decline by 140,000 in December

    Nonfarm Payrolls (NFP) in the US fell by 140,000 in December, the data published by the US Bureau of Labor Statistics revelled on Friday. This reading followed November’s increase of 336,000 and missed the market expectation.

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  • 8 January 2021 5:24 pm

    Bitcoin Continues to Record Level And Jumps 5% During The Session

    Bitcoin jumped more than 5% on Friday, January 8th, to a new record high at $ 41,530, to offset losses incurred earlier in the session. The most popular digital currency in the world fell to a low of $36618.36 on the Bitstamp exchange before rising. The rival cryptocurrency Ethereum rose …

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  • 8 January 2021 4:46 pm

    UK: MHRA Approves Moderna COVID-19 Vaccine For Use

    The British health ministry announced on Friday that the UK’s Medicines and Healthcare Products Regulatory Agency (MHRA) has approved Moderna’s COVID-19 vaccine for use, as reported by Reuters. The health ministry further noted that they have ordered 10 million additional doses of Moderna’s vaccine to bring the total to 17 million …

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  • 8 January 2021 4:28 pm

    German Industrial Output And Exports Rose in November

    Data showed German industrial output and exports rose in November, adding to indications that the export-dependent manufacturing sector gave momentum to Europe’s largest economy in the last quarter of the year. Industrial output increased 0.9% on a monthly basis and exports rose 2.2%, according to figures released by the Federal …

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  • 8 January 2021 3:32 pm

    European Stocks on Track to Post a Strong Weekly Performance And The German DAX Rises to a Record High

    European stocks rose Friday, January 8th, while the German DAX index hit a record high on the back of better-than-expected economic data and encouraging earnings updates from chipmakers. The European STOXX600 index rose 0.7% by and heading towards a weekly gain of more than 3% in light of hopes that …

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