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Market Analysis

November, 2020

  • 27 November 2020 3:18 am

    No-Deal Brexit Could Harm British Car Manufacturers

    The British automobile industry could struggle in the case of a no-deal Brexit, according to a recent report by Reuters. A no deal Brexit could cut UK vehicle production by two million units over the next five years, as per the the Society of Motor Manufacturers and Traders (SMMT). In …

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  • 27 November 2020 2:17 am

    Sunak: UK Ready for Brexit Trade Deal but not at Any Cost

    The United Kingdom (UK) is ready to reach a trade agreement with the European Union (EU) but not at any cost, the British finance minister said on Thursday. The transition period, during which the two parties are supposed to reach a trade deal for the post-Brexit era, expires in about …

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  • 26 November 2020 11:47 pm

    Consumer Confidence Falls in Germany and France

    Consumer confidence in Germany and France declined this month, amid renewed lockdown measures to curb the spread of a new wave of the Coronavirus pandemic. In France, consumer confidence fell in November to its lowest level since December 2018, Reuters reported. The French consumer confidence index declined by four points …

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  • 26 November 2020 10:28 pm

    USD Trading Marginally Higher on Thanksgiving

    The US Dollar (USD) is showing a relatively positive performance on Thursday, an official holiday in the United States on the occasion of Thanksgiving. The Dollar Index (DXY), which measures the performance of the USD against a basket of six international currencies, has been moving mostly in the positive territory …

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  • 26 November 2020 7:50 pm

    European Stocks Close Marginally Lower

    European stocks closed lower on Thursday, continuing to trade marginally lower. The pan-European STOXX 600 index finished lower by 0.03%. The UK’s FTSE100 declined by 0.44%, while the German DAX ended the session’s lower by 0.02%. Similarly, the French CAC40 index decreased by 0.08%.

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  • 26 November 2020 5:52 pm

    Bitcoin Hits Its Lowest Level in 10 Days

    Bitcoin slumped to its lowest level in 10 days, halting its sharp rally and sparking sell-off among smaller cryptocurrencies. The world’s largest cryptocurrency fell 13% to its lowest level since November 16 and was last down 9% to $ 17,074, a sharp correction from its three-year high of $ 19,521 …

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  • 26 November 2020 4:53 pm

    Turkey Net Foreign Exchange Reserves Rose to $18.4 Billion Last Week From $16.4 Billion

    Data showed that the net foreign reserves of the Turkish Central Bank amounted to 18.45 billion dollars on November 20, up from 16.43 billion dollars a week earlier when it reached its lowest level since March 2004. The exchange rate used by Reuters today is 7.6699 compared to 7.7896 the …

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  • 26 November 2020 4:02 pm

    Oil Stops Rising Due to Signs of Growing Supplies

    Oil fell from its highest level in seven months Thursday, November 26, as signs of growing supplies helped halt a rise led by optimism that demand for fuel would recover thanks to coronavirus vaccines. Brent crude futures rose to about $ 50 a barrel this week, after three major pharmaceutical …

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  • 26 November 2020 3:10 pm

    China Achieves 26% of Its 2020 Target For US Energy Imports Under The Trade Agreement

    China has ramped up imports of crude oil, propane and LNG from the United States since July, but total purchases of energy products through October are still well below the targets set for 2020 included in the Phase 1 trade agreement with Washington. According to Reuters calculations, which was based …

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  • 26 November 2020 2:40 pm

    European Stocks Rising on Tech But Virus Fears Capped Gains

    European stocks rose in early trade Thursday, November 26, but the gains were limited after sentiment was undermined by the extension of coronavirus-related restrictions in Germany and frustrating economic growth prospects for Britain. The European Stoxx600 index rose 0.1%, as technology and healthcare sectors led gains. The benchmark halted a …

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  • 26 November 2020 1:59 pm

    Japan Stocks Closed at Highest Level in More Than 29 Years

    Japanese stocks rose Thursday, November 26, to close at the highest level in more than 29 and a half years, as technology stocks went on the path of their American counterparts on the Nasdaq index, but the gains were limited by concerns about the latest restrictions to combat the Coronavirus …

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  • 26 November 2020 1:30 pm

    Dollar Declining With Warnings of a Further Decline

    The dollar fell on Thursday, November 26, as negative US economic data and optimism about coronavirus vaccines prompted investors to turn to more risky currencies associated with global commodities and emerging markets. The British pound traded near its highest level in more than two months against the dollar, as investors …

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  • 26 November 2020 12:24 pm

    Gold Rises as Stimulus Hopes Increased on US Data and Virus Fears

    Gold prices rose Thursday, November 26, supported by the dollar’s decline, as investors bet that the disappointing US jobs data and the increase in Covid-19 cases around the world are prompting the authorities to announce more stimulus measures. Spot gold rose 0.2% to $ 1809.61 an ounce. US gold futures …

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