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Market Analysis

October, 2020

  • 27 October 2020 5:23 pm

    UK Retail Sales Fall as The Economy Weakens

    Tuesday’s survey showed that the recovery of the retail sector in Britain, which was a bright spot for the economy affected by the Coronavirus, stopped this month after recording improvement over several months. The Confederation of British Industry monthly survey of retail sales fell to -23 in October, the lowest …

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  • 27 October 2020 4:16 pm

    Largest Commercial Bank in Singapore Launches Cryptocurrency Exchange

    DBS, of the largest commercial banks in Singapore, announced the soft launch of the proprietary crypto-to-fiat cryptocurrency trading platforms. At the initial stages, the users will have access to the four largest digital assets: BTC, BCH, ETH, XRP. They will be available for trading against Singapore Dollar (SGD), Hong Kong …

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  • 27 October 2020 3:56 pm

    Bitcoin Breaks the $ 1,300 Barrier

    Bitcoin trading witnessed positive moves during Tuesday to breach levels of $ 1300, its highest level in 2020. Bitcoin rose, the world’s first electronic currency, by 2.58% to $ 13,442, its highest ever in 2020.

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  • 27 October 2020 2:42 pm

    Dollar Holds Onto Its gains on Fears of Covid-19 And Uncertainty

    The dollar held on to its gains Tuesday, but the rest of the safe-haven currencies witnessed quiet transactions as investors were reluctant to form positions before the US presidential elections scheduled for next week, even as concerns grow about the second wave of Covid-19 and its economic effects. On Monday, …

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  • 27 October 2020 1:49 pm

    Interior Minister: France Must Prepare For “Difficult Decisions”

    French Interior Minister Gerald Darmanin said on Tuesday, ahead of a cabinet meeting to discuss the outbreak of the Coronavirus, that France should prepare to take “difficult decisions” related to imposing new measures to cope with the rise in Covid-19 cases. Three sources familiar with the matter said that the …

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  • 27 October 2020 1:27 pm

    Money Supply Growth Beats Estimates in Eurozone

    The rate of money supply in the Eurozone increased in September, more than analysts had expected. And data released by the European Central Bank today showed that the money supply in the Eurozone recorded a growth of 10.4% in September, compared with 9.5% growth in August. Analysts had expected that …

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  • 27 October 2020 12:44 pm

    Gold Rises as a New Wave of Infections Casts a Shadow Over the Economic Recovery

    Gold

    Gold prices rose on Tuesday as a new wave of infections with the Coronavirus threatened to slow the global economic recovery from the Covid-19 pandemic, adding to the appeal of the yellow metal as a safe haven. Gold spot 0.2% to 1,906.83 dollars an ounce. In US futures trading, it …

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  • 27 October 2020 12:23 pm

    Oil Steadies But Outlook is Bleak

    Oil prices rose on Tuesday after recent sharp losses, but market sentiment remains weak as high COVID-19 cases hurt the outlook for fuel demand while supplies rise. And Brent crude rose 42 cents, or the equivalent of 1%, to 40.88 dollars a barrel. U.S. crude gained 37 cents, or 1%, …

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  • 27 October 2020 2:24 am

    NYSE Closes in Red off Session Lows

    The New York Stock Exchange (NYSE) declined on Monday, opening the week with a negative performance despite recovering from some of its earlier losses in the day, amid concerns about the increased number of new COVID-19 cases. The Dow Jones Industrial Average closed lower by 650.19 points, or 2.3%, at …

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  • 27 October 2020 1:33 am

    US Treasury Yields Decline As Demand Soars

    Treasury yields in the United States declined on Monday as demand for safe havens increased amid a surge in new COVID-19 cases. Return on the 10-year Treasury bonds decreased by 2.5 basis points to 0.816%. As for the 30-year bond yield, it declined by 3.7 basis points to 1.609%. Meanwhile, …

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  • 27 October 2020 1:17 am

    USD Rises as Demand for Safe Havens Increases

    The US Dollar rose on Monday amid an increased demand for safe havens, which is due to a surge in new COVID-19 cases. In addition, stalling talks for a new stimulus package in the United States further advanced demand, which helped the USD maintains its rising trend that started at …

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  • 27 October 2020 12:24 am

    Oil Finishes at Three-Week Low

    Oil prices declined on Monday, finishing the first session of the week at its lowest level in about three weeks. A surge in new COVID-19 cases is raising concerns about demand and economic recovery, especially in the United States and Europe. Brent crude futures for December delivery lost $1.31, or …

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  • 27 October 2020 12:08 am

    Gold Closes Marginally Higher as USD Rises

    Gold

    Gold prices rose on Monday for the fifth time in six sessions, supported by increased demand for safe havens, amid a surge in new COVID-19 cases. The rise in the yellow metal prices came despite the US Dollar (USD) rising across the board. Gold futures for December delivery closed marginally …

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