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Market Analysis

November, 2020

  • 30 November 2020 6:52 am

    Weekly Recap 23-27 Nov

    Despite the promising news about the Corona vaccine, markets are still turbulent with the increase in Corona cases around the world and the imposition of new measures to limit the spread of the virus, which affects the entire market in turn. Oil rose more than 30% from its lowest level …

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  • 28 November 2020 1:02 am

    Unemployment in Brazil Rises to Highest Level on Record

    The unemployment rate in Brazil increased to its highest level ever, official data showed on Friday. The unemployment rate in the three months to September increased to 14.6% from 14.4% in the three months to August. Meanwhile, the number of unemployed rose to another record of 14.1 million from 13.8 …

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  • 28 November 2020 12:56 am

    Oil Ends Mixed in Anticipation for OPEC Summit

    Oil prices ended Friday on a mixed note, awaiting the upcoming OPEC summit. Brent crude futures for January delivery rose by 38 cents, or 0.8%, to close at $48.18 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures for January delivery closed lower by 18 cents, or 0.8%, at …

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  • 28 November 2020 12:47 am

    Gold Records Biggest Weekly Decline in Two Months

    Gold prices plunged on Friday, ending the week with the biggest losses in about two months. Gold futures for February delivery declined by $23.10, or 1.3%, to settle at $1,788.10 per ounce. Meanwhile, gold futures for December delivery finished lower by $23.60, or 1.3%, to close at $1,781.90 per ounce. …

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  • 27 November 2020 9:50 pm

    European Stocks End Week in Gains

    European stocks closed higher on Friday, wrapping up a week of gains on the back of positive news about Coronavirus vaccines. The STOXX Europe 600 index gained 0.41%, to close at 393.23 points, registering weekly gains of around 0.5%. In France, the French CAC40 index added 0.56%. Meanwhile, the UK’s …

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  • 27 November 2020 6:36 pm

    USD Nears Another Weekly Loss

    The US Dollar (USD) is set to record weekly losses after continuing to decline on Friday, amid improved risk appetite among investors. The Dollar Index (DXY), which measures the USD performance against a basket of six major international currencies, is down by 0.10% at 91.90. The index has been moving …

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  • 27 November 2020 6:28 pm

    Germany to Raise COVID-19 Stimulus Spending

    The German government plans to increase Coronavirus aid for companies to about EUR 4.5 billion per week next month, according to an official statement picked up by Reuters. “Cohesion and solidarity are hence the imperative of the hour,” said the Economy Minister Peter Altmaier. “We will not leave our companies …

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  • 27 November 2020 6:22 pm

    Brazilian Economy Creates Record Number of Jobs

    The Brazilian economy has created a record number of jobs during October, according to recent dat. A net 394,989 formal jobs were created last month, according to recently released figures by the Brazilian economy ministry. This is the fourth consecutive month in which the largest economy in South America has …

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  • 27 November 2020 6:18 pm

    Gold Declines amid Strong Correction

    After a slight rebound on Thursday, Thanksgiving holiday in the United States, it seems that the yellow metal’s correction wave is far from over. Gold futures are seeing negative performance with large losses on Black Friday, on the road to record its biggest weekly decline in about two months. Positive …

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  • 27 November 2020 6:05 pm

    Chinese Industrial Profits Increasing at Fastest Pace Since Early 2017

    Profits for Chinese industrial companies rose in October for the sixth consecutive month and reached the fastest pace since early 2017, indicating a strong recovery in the manufacturing sector after being hit hard by the Covid-19 pandemic. According to data from the National Bureau of Statistics on Friday, profits of …

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  • 27 November 2020 5:57 pm

    Gold Plummets to Fresh Multi-Month Lows

    The precious metal came under sudden selling pressure against the US dollar, falling to its lowest level since July at 1782.28. There is not much fundamental catalyst behind this move but the technical selling could arise below the psychological level of $1800.

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  • 27 November 2020 5:38 pm

    Economic Sentiment in Turkey Fell 3.5% in November

    Data from the Turkish Statistical Institute showed today, Friday, that Turkey’s economic sentiment index fell 3.5% on a monthly basis in November to 89.5 points, as an increase in the frequency of new cases of coronavirus pushed Ankara to impose partial restrictions. The index had risen for six consecutive months …

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  • 27 November 2020 4:55 pm

    Dollar Declining And Heading For Weekly losses. AUD and NZD Climbing

    The dollar fell in early trading in London on Friday and is heading to suffer a weekly loss against a basket of currencies, even though the stock market lost momentum as sentiment hurt from doubts about the AstraZeneca vaccine for Covid-19. The dollar has lost more than 2.2% since the …

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