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Market Analysis

December, 2020

  • 23 December 2020 8:03 pm

    US New Home Sales Drop in November

    New home sales in the United States declined during the month of November, data by the US Department of Commerce showed on Wednesday. New home sales decreased by 11% to a seasonally adjusted annual rate of 841,000 units last month. The October reading was revised to 945,000 units from a …

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  • 23 December 2020 6:40 pm

    US: Weekly Initial Jobless Claims Fall to 803K

    There were 803,000 initial claims for unemployment benefits in the US during the week ending December 19, the data published by the US Department of Labor (DOL) revealed on Wednesday.

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  • 23 December 2020 6:39 pm

    US: Durable Goods Orders Rise by 0.9% in November

    Durable Goods Orders in the United States expanded by 0.9%, or $2.2 billion, on a monthly basis to $244.2 billion in November, the US Census Bureau reported on Wednesday. This reading came in higher than analysts’ estimate for an increase of 0.6%.

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  • 23 December 2020 6:19 pm

    Gold Rises as The Dollar Falls After Trump Threatens Not to Sign The Stimulus

    Gold prices rose slightly on Wednesday, December 23, after US President Donald Trump threatened not to sign the pandemic relief bill, sparking a drop in the dollar. The spot price of gold was up 0.1% to $ 1860.81 an ounce, while US gold futures fell 0.3% to $ 1864.60 an …

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  • 23 December 2020 5:29 pm

    Chinese Gasoline Exports Fell in November And Imports of Liquefied Gas Rose to a Record High

    In November, data showed that China’s gasoline exports fell from record highs, while liquefied natural gas imports hit a new peak in light of increased demand at the start of the heating season. China’s General Administration of Customs said gasoline exports in November fell to 1.26 million tons from 1.84 …

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  • 23 December 2020 4:47 pm

    Currencies Overview: EUR and AUD Rallied as Trump’s Threat to Halt Stimulus is Ignored

    The euro resumed its rise towards the level of $1.22 and the dollar fell on Wednesday, December 23, as currency dealers did not stop much at US President Donald Trump’s threat not to approve a $ 892 billion aid package linked to Covid-19. Trump said the long-awaited stimulus package should …

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  • 23 December 2020 4:19 pm

    Pfizer/BioNTech to Supply US With 100 Million Additional Doses of COVID-19 Vaccine

    Pfizer and BioNTech announced on Wednesday that they will be supplying the US with 100 million additional doses of the COVID-19 vaccine, as reported by Reuters. All 200 million doses purchased by the US is expected to be delivered by July 31, 2021, the statement revealed.

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  • 23 December 2020 3:23 pm

    China Reduces Import Duties For 883 Items on Jan.1

    China’s Finance Ministry said the country will reduce import duties on 883 goods from January 1, including some aviation equipment, paper products and wood. The ministry said in a statement on its website that it would also reduce import duties for some information technology products, starting from July 1. The …

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  • 23 December 2020 3:20 pm

    Oil Retreating Due to a Sudden increase in US Inventories and Trump’s threat to stimulate

    Oil prices fell by more than 1% Wednesday, December 23, after a sector report showed an unexpected increase in US crude oil inventories, while US President Donald Trump shocked the markets after he threatened not to sign a long-awaited aid package linked to Covid-19. Brent crude futures fell 71 cents, …

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  • 23 December 2020 2:13 pm

    Trump Urges Congress to Amend ‘Wasteful’ Coronavirus Aid Bill

    US President Trump has urged Congress to amend a $900bn coronavirus relief package to more than triple its stimulus payments to Americans. In a video message posted on Twitter, he said the package “really is a disgrace”, full of “wasteful” items. “It’s called the Covid relief bill, but it has almost …

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  • 23 December 2020 2:00 pm

    European Stocks Rise on Hopes of a Trade Deal Linked to Brexit

    European stocks rallied on Wednesday, December 23, as investors encouraged a report indicating the possibility of signing a trade deal later in the day for the post-Brexit phase, amid concerns about the long-awaited passage of a coronavirus-related aid package in the United States. The European Stoxx600 index rose 0.4% after …

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  • 23 December 2020 1:15 pm

    Gold Rising Despite Trump’s Threat on Stimulus And With US Dollar Weakening

    Gold prices rose on Wednesday, December 23, supported by the dollar’s decline and continued optimism about the stimulus package in the United States even after President Donald Trump threatened not to sign the aid package linked to the pandemic. Spot gold rose 0.3% to $1864.29 an ounce by 07:05 GMT, …

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  • 23 December 2020 12:37 pm

    API: A Sudden Rise in US Crude Stocks Last Week

    Data from the American Petroleum Institute on Tuesday showed that US inventories of crude oil rose in the latest week. Crude stocks rose 2.7 million barrels over the week ending December 18 to about 497.7 million, while analysts’ expectations in a Reuters poll indicated a decline of 3.2 million barrels. …

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