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Market Analysis

November, 2020

  • 17 November 2020 12:56 pm

    Gold Falls as Vaccine Hopes Outweigh The Weak Dollar

    Gold prices fell on Tuesday, November 17th, as market optimism about a possible second vaccine for Covid-19 balanced the dollar’s weakness and concerns about a rise in global coronavirus cases. Spot gold fell 0.1% to $ 1886.17 an ounce by 06:23 GMT, while US gold futures fell 0.2% to $ …

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  • 17 November 2020 12:28 pm

    Oil Prices Rising And Eyes on Opec+

    Oil prices rose on Tuesday, November 17th, thanks to expectations that OPEC and its allies will extend crude production cuts for at least three months, while sentiment boosted on news of another promising Coronavirus vaccine. Brent crude in January contracts rose 26 cents, equivalent to 0.6%, to $ 44.08 a …

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  • 17 November 2020 2:51 am

    Citi Sees 10-Year Treasury Yields at 1.25% Next Year

    Citi bank expects that the 10-year Treasury yields in the United States will rise to 1.25%, from a current 0.9%, in 2021. This should be as markets look through bad fundamentals towards recovery, MarketWatch reported. “We expect the bond selloff to stop when yields reach 1.25%, so removing a key …

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  • 17 November 2020 12:49 am

    Oil Logs another Gain on Vaccine News

    Oil prices rose on Monday, supported by positive news about a Coronavirus vaccine by Moderna. Earlier today, Moderna reported that its vaccine candidate has proved about 95% effective in the prevention of contracting the virus. Brent crude futures for January delivery closed higher by $1.04, or 2.4%, at $43.82 per …

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  • 17 November 2020 12:39 am

    Gold Maintains Gains for Third Day in Row

    Gold prices rose on Monday for the third consecutive session, amid concerns about the new wave of the Coronavirus pandemic, despite positive news about the vaccine being developed by Moderna. Accordingly, gold futures for December delivery saw limited gains, closing higher by $1.60, or 0.08%, at $1,887.80 per ounce. Last …

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  • 16 November 2020 10:51 pm

    European Stocks Close Higher on Vaccine News

    European stocks closed Monday higher, opening the week with a positive performance on the back of positive news about the Moderna COVID-19 vaccine. The STOXX Europe 600 index rose by 1.18% and finished at 389.74 points. The UK’s FTSE100 closed higher by 1.66%, while the French CAC40 index gained 1.7%. …

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  • 16 November 2020 8:27 pm

    AUD/USD Shows Strong Gains on Chinese Data

    The Australian Dollar (AUD) continues to show a strong performance on Monday, supported by strong industrial data in China, since China is Australia’s largest trade partner. The AUD is up by 072% against the US Dollar (USD), with the AUD/USD pair trading at 0.7322. The pair has been moving in …

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  • 16 November 2020 7:41 pm

    USD Attempting Recovery from Daily Lows

    The US Dollar (USD) is attempting recovery on Monday, after spending most of the European session in the negative territory. The Dollar index (DXY), which measures the USD performance against a basket of six major international currencies, is down by 0.08% at 93.68. The index has been moving today in …

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  • 16 November 2020 7:01 pm

    Canadian Manufacturing Sales Rise in September

    Manufacturing sales in Canada increased by 1.5% to CAD 53.8 billion in September, data by Statistics Canada showed on Monday. The reading follows a monthly revised decline of 1.4% in August, from an initially estimated 2% decrease.

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  • 16 November 2020 6:10 pm

    US: NY Empire State Manufacturing Index Drops to 6.3 in November

    The headline General Business Conditions Index of the NY Fed’s Empire State Manufacturing Survey fell to 6.3 in November from 10.5 in October, the NY Fed’s report revealed on Monday. This reading missed analysts’ estimate of 13.5 by a wide margin.

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  • 16 November 2020 4:41 pm

    Moderna Says Its COVID-19 Vaccine is 94.5% Effective

    Moderna said its initial, third-beta data show its coronavirus vaccine is more than 94% effective in preventing Covid-19 – a result that CEO Stéphane Bancel has called it a “game-changer”. He added, “The thing that got me the most excited today was the severe disease.” Moderna, which developed its vaccine …

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  • 16 November 2020 4:00 pm

    Risk Flows Started to Dominate Markets After Moderna Announces Longer Shelf Life For Vaccine

    Risk flows started to dominate financial markets on Monday after Moderna announced that its COVID-19 vaccine candidate is expected to remain stable at standard refrigerator temperatures of 2° to 8°c for 30 days.

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  • 16 November 2020 3:35 pm

    European Stocks Rise on Chinese Data

    European stocks rose on Monday (November 16th), hovering near nine-month highs after strong Chinese data and hopes for a COVID-19 vaccine renewed bets on a faster economic recovery. Chinese factory production increased faster than expected in October and retail sales rose as the recovery momentum in the world’s second largest …

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