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Market Analysis

December, 2020

  • 28 December 2020 9:24 pm

    US Congress to Vote on Expanding Stimulus Package

    The United States House of Representatives will vote on Monday on raising the second government stimulus package to $2,000 per household, CNBC reported. Both the Democratic Party and President Donald Trump want to give people more money than the already approved $600 per household, while the Republican Party, which remains …

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  • 28 December 2020 7:46 pm

    NYSE Opens Week at Record Highs

    The main indices of the New York Stock Exchange (NYSE) hit new record highs on Monday, opening the week with a strong performance, after the President of the United States, Donald Trump, signed the $900 billion stimulus package that was passed by Congress. The Dow Jones Industrial Average is up …

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  • 28 December 2020 6:56 pm

    USD Opens the Week on Lower Note

    The US Dollar (USD) is trading lower against major currencies on Monday, opening the week following Christmas on a negative note. The Dollar Index (DXY), which measures the greenback performance against a basket of six international currencies, is down by 0.22% at 90.12.

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  • 28 December 2020 1:32 pm

    The Turkish lira Rising to the Highest Level Since September

    The Turkish lira rose 0.8% to less than 7.5 Lira to the dollar on Monday, its highest level since mid-September, in a continuation of last week’s gains when the central bank raised key interest rates slightly more than expected. The lira recorded 7.4950 in meagre transactions due to the year-end …

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  • 28 December 2020 1:30 pm

    Oil Cuts Losses After Trump Signs The Aid Bill

    Oil prices trimmed losses today, Monday, after US President Donald Trump signed an aid package for those affected by the Coronavirus and public spending totaling $ 2.3 trillion, but market sentiment was affected by persistent concerns about demand in the near term. With the Asian markets closed, Brent crude futures …

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  • 28 December 2020 12:39 pm

    Japan Stocks Closed Near The Peak of 3 Decades After Trump Signed The Stimulus

    Japanese shares rose in thin holiday trading on Monday, heading towards the highest level in nearly three decades, as investors continue to bet that the US stimulus and Corona vaccines will accelerate the pace of the global economic recovery. The benchmark Nikkei index ended the day 0.74% higher at 26,854.03 …

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  • 28 December 2020 11:53 am

    Currencies Overview: US Dollar Little Changed

    The dollar was not affected much after US President Donald Trump did not implement his threat to block an aid package for those affected by Covid-19 amid weak trading Monday due to holidays. The pound sterling hovered below its highest level in two and a half years in Asian trading, …

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  • 28 December 2020 11:10 am

    Gold Reaches Weekly High On US package Approval

    Gold prices rose by up to 1.3% today, Monday, as investors welcomed the signing of US President Donald Trump’s long-awaited aid package for those affected by the pandemic, as well as additional support provided by the falling dollar. With the close of the Japan Stock Exchange, the spot price of …

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  • 28 December 2020 10:40 am

    Asian Stocks Closed Higher

    Asian stocks rose despite weak trading volumes due to year-end holidays on Monday. The rise came thanks to US President Donald Trump’s signature of the coronavirus aid package. The MSCI Asia Pacific Index outside of Japan rose 0.40%, while the Japanese Nikkei 225 index gained 0.60% early Monday. US President …

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  • 28 December 2020 10:33 am

    The Financial Times: Britain And Turkey Sign a Free Trade Agreement This Week

    The Financial Times reported Sunday (December 27th) that Britain and Turkey will sign a free trade agreement on Tuesday, the first of its kind since British Prime Minister Boris Johnson reached a new trade deal with the European Union. The report said that the two countries have finalized the text …

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  • 28 December 2020 5:49 am

    Weekly Recap – Dec 21-25

    There has been some activity as 2020 nears an end, especially with the European Union and the United Kingdom reaching an agreement on Brexit and the congressional approval of the fiscal stimulus package. The Brexit talks have been marred by some turmoil but ultimately an agreement between the UK and …

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  • 28 December 2020 5:24 am

    Breaking: President Trump Signs Coronavirus Relief Bill

    An article by New York Post cites CNN as saying that President Trump has signed a $2.3 trillion COVID-19 relief and government funding bill that includes $600 stimulus checks for most Americans.

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  • 24 December 2020 11:30 pm

    Oil Closes the Week in Losses Ahead of Christmas

    Oil prices rose slightly on Thursday ahead of the Christmas holiday, but ended the shortened week in losses. Crude prices remain supported by a decline in the United States oil stockpiles, as reported on Wednesday by the U.S. Energy Information Administration (EIA). Moreover, the number of active rigs drilling for …

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