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Market Analysis

September, 2020

  • 28 September 2020 2:10 pm

    Oil is Falling on Uncertainty Surrounding The Recovery of Demand

    Oil prices fell on Monday, September 28, as the high number of coronavirus cases dampened hopes for a smooth recovery in fuel demand, while the two major benchmarks are moving towards recording their first monthly decline in several months after falling last week. By 06:52 GMT, Brent crude was down …

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  • 28 September 2020 1:21 pm

    Gold Rises as US Dollar Weakens, Eyes on a debate between Trump and Biden

    Gold prices rose on Monday, September 28, as the dollar retreated from a two-month high last week as political uncertainty increased ahead of the first presidential debate between US President Donald Trump and his Democratic rival, Joe Biden. Gold rose in the spot market 0.1% to $ 1861.13 an ounce …

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  • 28 September 2020 12:48 pm

    Nikkei Ends Higher on Boost From Ex-Dividend Stocks

    Japanese stocks closed higher on Monday, September 28, in light of greater demand for stocks whose cash dividends are due to expire this week, but US-Chinese tensions limited the gains. The Nikkei rose 1.32% to 2,3511.62 points, while the broader TOPIX index gained 1.69% to 1,661.93 points. All sub-sector indices …

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  • 28 September 2020 12:05 pm

    OPEC: Oil Inventories in Advanced Economies Below an Average of 5 years in Q1 2020

    Mohamed Barkindo, Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), said on Sunday (September 27th) that oil stocks in the Organization for Economic Cooperation and Development countries in the first quarter of 2021 are expected to remain above their five-year average by a slight margin before falling below …

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  • 28 September 2020 11:34 am

    Russian Energy Minister Warns of Covid-19 Risks to Global Oil

    Russian Energy Minister Alexander Novak said that the global oil market has stabilized in the past few months and that the balance between supply and demand has been restored, while uncertainties continue, such as the rise in COVID-19 cases. He also said that talks about the possibility of transferring exports …

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  • 28 September 2020 10:41 am

    Nikkei is Up 0.81% in Early Trading in Tokyo

    The Nikkei index rose in early trading on the Tokyo Stock Exchange on Monday, September 28th. Nikkei rose 0.81% to 23391.96 points, while the broader Topix index rose 0.74% to 1646.28 points.

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  • 28 September 2020 10:39 am

    Gold Futures: Further Rangebound Likely

    Open interest in Gold futures markets shrunk by nearly 1.6K contracts on Friday, clinching the second drop in a row in light of preliminary figures from CME Group. Volume, in the same line, went down for the second consecutive day, now by almost 127K contracts.

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  • 28 September 2020 10:37 am

    PBOC Sets Yuan Reference Rate at 6.8252

    The People’s Bank of China (PBOC) has set the yuan reference rate at 6.8252 versus Friday’s fix at 6.8121.

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  • 26 September 2020 1:36 am

    Wall Street Ends Week Mixed

    The New York Stock Exchange (NYSE) closed higher on Friday, despite uncertainties about the rising number of COVID-19 cases and concerns regarding a second wave of the pandemic. The Dow Jones Industrial Average rose by 358.5 points, or 1.34%, and closed at 27,173.96 points, but declined by 1.8% for the …

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  • 26 September 2020 12:06 am

    Oil Prices Post Weekly Losses

    Oil prices declined on Friday, amid concerns about the rising number of COVID-19 cases spurring a negative outlook the global demand recovery. The decline also comes after data showed an increase in active oil rigs in the United States. Brent futures for November delivery closed lower by 2 cents, or …

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  • 25 September 2020 11:49 pm

    Canada Records CAD 148.6 B Deficit in Four Months

    Canada recorded a budget deficit of CAD 148.58 billion ($110.8 billion) during the first four months of fiscal year 2020/2021, compared with CAD 1.56 billion for the same period a year earlier, data showed on Friday.

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  • 25 September 2020 10:42 pm

    Gold Futures Down 5% for the Week

    Gold prices closed Friday in decline, extending its weekly losses to its worst level since last March. The yellow metal losses came amid the appreciation of the US Dollar (USD). Gold futures for December delivery decreased by $10.60, or 0.6%, and settled at $1,866.30 per ounce. For the week, the …

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  • 25 September 2020 10:00 pm

    US Oil Rigs Rise For Second Week

    The number of active oil and natural gas rigs in the United States increased, for the consecutive week, by six to a total of 261 rigs by the end of the week. Crude oil rigs increased by four to 183, while natural gas rigs added two and reached a total …

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