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Market Analysis

November, 2020

  • 9 November 2020 3:18 pm

    US Dollar Drops to Its Lowest Level in 10 Weeks

    The dollar reached its lowest level in ten weeks on November 9 as investors heralded the election of Joe Biden as President of the United States by buying currencies exposed to trade thanks to expectations that a quieter administration in the White House will boost global trade and that monetary …

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  • 9 November 2020 2:16 pm

    European Stocks Jump After Biden’s Victory

    European stocks jumped Monday as Democrat Joe Biden’s victory in the US presidential election raised hopes for better trade relations between Washington and Europe, and chipmaker Infineon increased thanks to strong earnings expectations. The European Stoxx600 index rose 1.3% by 08:05 GMT, and the German DAX index, which relies on …

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  • 9 November 2020 1:39 pm

    Japan’s Nikkei Index Jumps to The Highest Level in Nearly Three Decades

    Japan’s Nikkei index reached its highest level in nearly three decades on Monday, November 9, after Joe Biden won the US presidency, while Honda Motor shares led the gains among carmakers thanks to strong earnings numbers. Investors, who were reluctant to buy last week due to political uncertainty in the …

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  • 9 November 2020 1:32 pm

    German Exports Rise More Than Expected in September

    German exports rose more than expected in September and foreign trade gave a boost to Europe’s largest economy that continued into the fourth quarter of the year as it struggles to avoid slipping into a double-digit deflation. The Federal Statistics Office said exports, adjusted for seasonal factors, rose 2.3% on …

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  • 9 November 2020 12:28 pm

    Gold Rises as US Dollar falls on Stimulus Hopes Following Biden’s Victory

    Gold prices rose Monday, November 9, to their highest level in nearly two months, driven by the weakening of the dollar and hopes for more stimulus measures due to the Corona virus, under President-elect Joe Biden. Spot gold increased 0.5% to $ 1960.99 an ounce by 05:18 GMT. Earlier in …

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  • 9 November 2020 12:11 pm

    Weekly Recap 2-6 Nov

    The headlines of the US election were dominating the markets past week with the intense competition between Trump and Biden, which Biden settled by a difference of votes, here are the highlights of the past week. The US Federal Reserve decided to keep interest rates near zero at 0.25% while …

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  • 9 November 2020 11:59 am

    Brent Crude Exceeds $ 40, After Increased Risk Appetite With Biden’s Victory

    Oil prices gained more than 2% on Monday, November 9, while Brent crude futures rose above $ 40 a barrel, after Joe Biden won the US presidency and boosted risk appetite, offsetting concerns about the impact of the worsening coronavirus pandemic on demand. Brent crude futures for January delivery rose …

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  • 7 November 2020 8:45 pm

    US Election: AP Call Elections For Biden

    Joe Biden has been elected the 46th President of the United States according to AP.  The former Vice-President has pulled ahead in Pennsylvania. The latest batch of votes from the Keystone State put Biden ahead by around 34,000 votes ahead of President Donald Trump.

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  • 7 November 2020 1:56 am

    Wall Street Mixed as it Records Weekly Gains

    The New York Stock Exchange (NYSE) failed to maintain its perfect record for the week, as the main indices in Wall Street mostly declined on Friday after rising for four consecutive sessions. The Dow Jones Industrial Average declined by 66.78 points, or 0.2%, and closed at 28,323.40 points, adding 6.9% …

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  • 7 November 2020 1:47 am

    US Treasury Yields Limit Weekly Decline

    Treasury yields in the United States increased on Friday, to limit their weekly decline. This comes after employment data by the US Department of Labor showed that economic recovery is continuing. Return on the 10-year Treasury note increased by 4.6 basis points to 0.821%, but declined for the week by …

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  • 7 November 2020 1:36 am

    Oil Loses Half of its Weekly Gains on Friday

    Oil prices declined on Friday, with growing concerns about the new wave of the Coronavirus pandemic. New lockdown and preventive measures announced by some countries are raising concerns about the recovery of the global demand for energy. Brent crude futures for January delivery declined by $1.48, or 3.6%, to finish …

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  • 7 November 2020 12:42 am

    Gold Closes at Highest Level in Seven Weeks

    Gold prices rose on Friday to their highest level in seven weeks, supported by the decline of the US Dollar (USD) amid the uncertainty surrounding the results of the United States presidential elections. Gold futures for December delivery gained $4.90, or 0.3%, to close at $1,951.70 per ounce. This is …

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  • 7 November 2020 12:38 am

    US Oil Rigs Rise for Fifth Week in Row

    Oil and natural gas rigs in the United States increased for the eighth consecutive week, according to Friday’s weekly report by Baker Hughes. This is the first time that oil rigs increased at this rate since June 2018, amid output cuts and price fluctuations. Oil and gas rigs rose by …

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