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Market Analysis

November, 2020

  • 4 November 2020 2:23 pm

    UK Foreign Secretary: Lockdown Will Definitely End on December 2

    midst the US election chaos, UK Foreign Secretary Dominic Raab said in a statement on Wednesday, the lockdown will definitely end on December 2. The reassurance from Raab failed to offer any reprieve to the GBP bulls, as GBP/USD drops 0.86% to trade at 1.2941, as of writing. Earlier this …

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  • 4 November 2020 1:42 pm

    President Trump Says “getting ready to celebrate a big win”

    “We won states that we weren’t expecting to win,” US President Donald Trump said while speaking from the East Room of the White House, adding that “we are getting ready for a big celebration.” “This is without question the latest news conference I’ve ever had.”“Millions and millions of people voted …

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  • 4 November 2020 1:18 pm

    Oil Falls After Trump Questions Integrity of Election

    Oil turned down Wednesday, November 4th, after the US President questioned the integrity of the elections, despite millions of votes not being counted, and the final results are not expected to be announced before several days. US West Texas Intermediate crude fell 15 cents, equivalent to 0.4%, to $ 37.51 …

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  • 4 November 2020 12:33 pm

    Gold Falls With Dollar In Favor

    Gold prices fell on Wednesday, as the dollar rose after preliminary results from the US presidential elections showed a close convergence than expected. US President Donald Trump winning in Florida and advancing in several other states. Gold Spot fell 0.5% to 1898.97 dollars an ounce, reducing losses by more than …

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  • 4 November 2020 11:42 am

    US Dollar Rises as a Long Wait For Election Results Looms

    The US dollar gained and risk-sensitive currencies weakened on Wednesday, November 4th, as early results from the US presidential election show a tight convergence in the race. US President Donald Trump is ahead in states including Florida and Ohio, as investors await whether he can retain the states of Michigan, …

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  • 4 November 2020 11:07 am

    Democrat Joe Biden Leads in Arizona

    Former Vice-President Joe Biden has won Arizona. He is leading against President Donald Trump by a large margin in the southwestern state. Joe Biden is losing ground in battleground Florida, which is now called for President Donald Trump. In Arizona’s Senate race, Democrat Mark Kelly won against Republican incumbent Marhta …

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  • 4 November 2020 2:13 am

    NYSE Finishes Elections Day on Higher Note

    The New York Stock Exchange (NYSE) closed Tuesday higher on hopes for a new stimulus package following today’s elections. The Dow Jones Industrial Average added 514.92 points, or 1.9%, to close at 27,439.97 points. The S&P 500 gained 58.11 points, or 1.8%, and finished at 3,368.35 points. The Nasdaq Composite …

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  • 4 November 2020 1:05 am

    Oil Settles at Highest Level in a Week

    Oil prices rose on Tuesday to their highest level in a week on election day, on the hopes for a new stimulus package following the US elections and commitment from the OPEC+ to maintain output curbs. Brent crude futures for January delivery gained 74 cents, or 1.9%, to close at …

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  • 3 November 2020 11:35 pm

    Gold Settles At Highest Level in Week

    Gold prices finished at their highest level in a week, as the US dollar (USD) declined on election day in the United States. Gold futures for December delivery finished higher by $17.90, or 1%, at $1,910.40 per ounce, its highest level since October 27. Meanwhile, silver futures for December delivery …

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  • 3 November 2020 10:06 pm

    US Factory Orders Rise in September

    New factory orders in the United States increased by 1.1% in September, data by the US Department of Commerce showed on Tuesday. This comes after factory orders rose by 0.6% in August.

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  • 3 November 2020 9:24 pm

    EUR/USD Hits Fresh Five-Day High

    The Euro (EUR) rose against the US Dollar (USD) to its highest level in five days during Tuesday’s trading session, as the USD is declining across the board on election day. The EUR/USD is trading higher for the day by 0.72% at 1.1725. The pair has been moving today in …

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  • 3 November 2020 9:02 pm

    GBP/USD Rises to Highest Level in Week

    The British Pound (GBP) rose against the US Dollar (USD), as the later declined on election day, to its highest level in a week. The GBP/USD is trading higher by 1.05% at 1.3053. The pair has been moving today in a range between 1.2911 and 1.3079, after closing yesterday at …

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  • 3 November 2020 7:32 pm

    USD Declines on Election Day

    The US Dollar (USD) is declining across the board on elections day, with markets awaiting the results of the presidential and congressional elections. The Dollar index (DXY), which measures the USD performance against a basket of six major international currencies, is down for the day by 0.76% at a daily …

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