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Market Analysis

December, 2020

  • 3 December 2020 5:44 pm

    US: Weekly Initial Jobless Claims Dropped to 712K

    There were 712,000 initial claims for unemployment benefits in the US during the week ending November 28, the data published by the US Department of Labor (DOL) showed on Thursday. This reading followed last week’s print of 787,000 and came in better than the market expectation of 775,000.

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  • 3 December 2020 5:23 pm

    Dollar Falling to Its Lowest Level in Two And a Half Years Due to Hopes of Vaccine And Stimulus

    The dollar fell Thursday, December 3, to its lowest level in two and a half years against a basket of currencies, as investors bet that more economic stimulus from Washington and expected to start distributing vaccines for Covid-19 will support high-risk assets. While US lawmakers have failed to reach an …

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  • 3 December 2020 4:13 pm

    US: Record Number of Coronavirus deaths

    The number of Coronavirus deaths in the United States rose by 3,157 yesterday to record the largest number since the start of the pandemic. 20,070 people tested positive for Corona, as California broke a new record of daily infections. Meanwhile, the US Center for Disease Control has cut the quarantine …

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  • 3 December 2020 4:06 pm

    Turkey: Annual Inflation Jumps to 14%, Its Highest Level in More Than a Year

    Annual inflation in Turkey jumped higher than expected, registering 14.03% in November, the highest level since August 2019 due to the drop in the lira, which remains on the pressures urging monetary policy tightening after a big interest rate hike last month. On a monthly basis, consumer prices increased 2.30% …

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  • 3 December 2020 4:03 pm

    Retail Sales in Eurozone Rose More Than Expected in October

    Retail Sales both in the Eurozone and the European Union increased by 1.5% on a monthly basis in October, the data published by the Eurostat showed on Thursday. This reading followed September’s contraction of 1.7% and beat the market expectation of +0.8%.

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  • 3 December 2020 4:02 pm

    Oil Rises as OPEC+ Resumes Talks to Extend Production Cuts

    Oil prices rose Thursday, December 3, after a dispute erupted between two producers, including Saudi Arabia and Russia, over the need to extend the deadline for record production cuts that began during the first wave of the Covid-19 pandemic. Brent crude rose 21 cents, or 0.4%, to $48.46 a barrel …

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  • 3 December 2020 2:46 pm

    OPEC + Resumes Talks on Oil Policy in 2021 Amid Disputes

    OPEC and Russia will resume talks Thursday (December 3) in an effort to define policies for 2021 after an initial round of discussions this week failed to reach a compromise on how to cope with weak oil demand amid a second wave of the coronavirus pandemic. It was widely expected …

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  • 3 December 2020 1:52 pm

    Gold Rises as US Dollar Weakens, Investors Await a US Stimulus Deal

    Gold rose Thursday, December 3, to its highest level in more than a week, as the dollar fell to its lowest level in several years due to hopes of soon distributing a vaccine for the Coronavirus, while investors continued to follow the developments of the stimulus agreement in the United …

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  • 3 December 2020 1:03 pm

    China Caixin Services PMI Rose to 57.8 in November

    Chinese Caixin Services PMI rose to 57.8 in November from 56.8 in October, the second highest reading since April 2010. Total new business grew in November to the highest level since April 2010, with new export business expanding for the first time in five months. It is reported that the …

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  • 3 December 2020 12:32 pm

    Japan Shares Closed at The Peak of 29 Years on Vaccine Hopes

    Japanese stocks stabilized Thursday, December 3, near a 29-year high, as major countries close to distributing coronavirus vaccines, while sentiment also received support from hopes for more stimulus. Nikkei ended the session modestly gaining 0.03% at 26,809.37, but held near its highest level since April 1991, while the broader Topix …

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  • 3 December 2020 1:17 am

    Trump Could Run for President Again in 2024 – Reuters

    The President of the United States, Donald Trump, could be preparing another campaign to run for the presidency in 2024, Reuters reported on Wednesday. Trump, who is yet to concede his loss in the recent elections to President-elect Joe Biden, reportedly told an assembled group earlier that “we are trying …

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  • 3 December 2020 1:04 am

    Oil Settles Higher Awaiting OPEC Decision

    Oil prices closed higher on Wednesday, amid anticipation for the OPEC+ alliance decision on production cuts. Brent crude futures for February delivery rose by 83 cents, or 1.8%, to finish at $48.25 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures for January delivery gained 73 cents, or 1.6%, …

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  • 3 December 2020 12:25 am

    Gold Rises for Second Day in Row

    Gold prices rose for the second consecutive session, supported by positive news about a new stimulus package in the United States. Gold futures for February delivery gained $11.30, or 0.6%, and closed at $1,830.20 per ounce. The back-to-back gains come after a strong correction wave for the yellow metal, and …

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