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Market Analysis

September, 2020

  • 24 September 2020 5:49 pm

    Johnson: Doing Everything We Can to Support Jobs

    British Prime Minister Boris Johnson said on Thursday that they are doing everything they can to support jobs and added that he fully supports the package of measures that they have jointly drawn up with Finance Minister Rishi Sunak. “Getting virus under control will be the best thing for jobs …

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  • 24 September 2020 5:12 pm

    US Weekly Initial Jobless Claims Edge Higher to 870K

    There were 870,000 initial claims for unemployment benefits in the US during the week ending September 19th, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed last week’s print of 866,000

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  • 24 September 2020 5:06 pm

    ECB: Unemployment Rate in Will Continue to Rise

    The European Central Bank said in a publication on Thursday that the unemployment rate will continue to rise in the Eurozone and that there is a limited increase in consumer demand even as the economy recovers from an unprecedented recession. In the bulletin, which largely reflects the economic expectations and …

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  • 24 September 2020 3:30 pm

    Turkey: CBRT increases policy rate by 200 basis points to 10.25%

    The Central Bank of the Republic of Turkey (CBRT) announced on Thursday that it raised its policy (one-week repo) rate by 200 basis points to 10.25%. In its policy statement, the CBRT noted that it looks to restore the disinflation process and support price stability with the decision to hike …

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  • 24 September 2020 2:16 pm

    German IFO Business Climate Index Misses Estimates

    The headline German IFO Business Climate Index came in at 93.4 in September, stronger than last month’s 92.6 while missing the consensus estimates pointing to a reading of 93.8. Meanwhile, the Current Economic Assessment arrived at 89.2 points in the reported month as compared to last month’s 87.9 and 89.5 …

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  • 24 September 2020 2:03 pm

    Global sales Push European Stocks to a 3-month Low

    The Stoxx600 index of European shares fell 1% by 0711 GMT, reaching its lowest level since June 26, while the Frankfurt, London and Paris stock exchanges fell between 0.6% and 1%. Wall Street indices posted big losses yesterday, led by technology stocks after officials in the Federal Reserve (US Central …

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  • 24 September 2020 1:15 pm

    Nikkei Index Drops Weighed by Coronavirus Concerns

    Japanese stocks fell, affected by a widespread sell-off in global stocks Thursday, September 24th, after concerns about their high valuation and an increase in virus cases. The pressure on stocks was increased by uncertainty over the US presidential election, as President Donald Trump declined to comment on a peaceful transfer …

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  • 24 September 2020 12:25 pm

    Demand For US Dollar Rises as Stocks Decline

    The dollar held on to its gains against most currencies on Thursday, after signs of an economic slowdown in Europe and the United States revived concerns about the repercussions of the second wave of coronavirus infections. The Euro, already hit by fears of a return to tight lockdown measures, faces …

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  • 24 September 2020 11:36 am

    SNB maintains key rate at -0.75%

    The Swiss National Bank (SNB) board members left the monetary policy settings unchanged at its September quarter monetary policy assessment this Thursday The SNB left the benchmark sight deposit rate unchanged at -0.75%. The central bank maintained the 3-Month Libor Target Range steady between -1.25% to -0.25%, as widely expected. …

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  • 24 September 2020 11:21 am

    Lira Hits a Fresh Low Ahead of CBRT Decision

    The Turkish lira slumped to a new record low against the US dollar, as investors cautiously await the outcome of the central bank’s policy meeting, which is expected to leave the key interest rate pending. A Reuters poll of 17 economists showed that the bank was keeping its repurchase rate …

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  • 24 September 2020 11:00 am

    Gold Extends Losses For The Fourth Day on Higher US Dollar

    Gold fell Thursday, September 24th, to its lowest level in more than two months, on dollar’s rally, while investors were concerned about the uncertainty surrounding additional stimulus measures to support the slowing economic recovery in the United States. This fell gold in immediate transactions 0.7% to 1851.51 dollars an ounce …

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  • 24 September 2020 10:18 am

    PBOC Sets Yuan Reference Rate at 6.8028

    The People’s Bank of China (PBOC) has set the yuan reference rate at 6.8028 versus Wednesday’s fix at 6.7986.

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  • 24 September 2020 1:10 am

    Wall Street Closes in Red

    Wall Street ended Wednesday’s trading in decline, after recent remarks by US Federal Reserve officials signaled maintaining interest rates near 0% for the coming three years, as well as concerns among the rising number of COVID-19 cases. The Dow Jones Industrial Average dropped by 1.92%, or 525.05 points, to close …

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