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Market Analysis

October, 2020

  • 23 October 2020 2:13 pm

    Gold is Stable on Hopes for a Strong US Dollar Stimulus

    Gold stabilized on Friday, as expectations of an eventual US stimulus package were offset by the pressures imposed by the strong dollar. There was no significant change in gold in immediate trading at 1903.36 dollars an ounce before the opening of European markets, after it had fallen more than one …

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  • 23 October 2020 2:10 pm

    US Dollar is Stable After US Election Debate And Heading For a Weekly Loss

    The dollar stabilized against most currencies on Friday after a balanced presidential debate in the United States but is heading towards a weekly loss as investors await stimulus talks in Washington and post-Brexit trade negotiations. US President Donald Trump adopted a more conservative tone compared to what he was in …

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  • 23 October 2020 5:07 am

    GBP/USD Slides Back Closer to Session Lows Around 1.3070-65

    The GBP/USD retreated nearly 50 pips from European session highs to levels beyond 1.3100 and fell back to the lower end of the intraday range. The fresh sell-off around the US dollar helped the pair regain some positive momentum during the early last day of the week, but the ongoing …

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  • 22 October 2020 11:53 pm

    Oil Recovers Most of Recent Losses

    Oil prices rose on Thursday on renewed hopes for another stimulus package in the United States, where a decline in jobless claims also helped improve the outlook for demand. Additionally, remarks that indicated that the OPEC+ alliance may prolong output cuts provided support for crude prices, as Brent crude futures …

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  • 22 October 2020 11:44 pm

    Gold Finishes Lower as USD Rises

    Gold prices declined on Thursday as the US Dollar (USD) showed signs of recovery from its decline yesterday. In addition, remarks suggesting a near agreement for a new stimulus package in the United States supported risk appetite among investors and reduced demand for safe havens. Gold futures for December delivery …

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  • 22 October 2020 11:41 pm

    GBP Declines Against USD and EUR

    The British Pound (GBP) retreated on Thursday, after showing a very strong performance yesterday that was supported by renewed hopes for a trade agreement between the United Kingdom (UK) and the European Union (EU) in the post-Brexit stage. The GBP is down against the US Dollar (USD) by 0.52%, with …

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  • 22 October 2020 11:35 pm

    EUR/USD Gives Up Month-High

    The Euro (EUR) is declining against the US Dollar (USD) on Thursday, after finishing Wednesday at its highest level in about a month at 1.1861. The EUR/USD is down by 0.36% at 1.1818, after levelling down earlier as low as 1.1812. The pair’s decline comes amid a recovery by the …

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  • 22 October 2020 11:17 pm

    Pelosi: New Stimulus Package is Pretty Close

    The United States Speaker of the House, Nancy Pelosi, said that talks for a new stimulus deal are showing progress. A deal could be reached pretty soon, Pelosi said in an interview with MSNBC on Thursday. “We’re on a good path.”“We’re coming closer.” Pelosi said on Wednesday that there remains …

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  • 22 October 2020 10:15 pm

    DXY Recovers From Seven-Week Low

    The US Dollar (USD) is showing recovery signs on Thursday, after reaching its lowest level in seven weeks yesterday. The Dollar Index (DXY), which measures the performance of the USD performance against a basket of six international currencies, is up by 0.33% for the day at 92.92. The index has …

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  • 22 October 2020 8:54 pm

    European Stocks Close Lower Amid Uncertainty

    European stocks finished Thursday lower, amid increased uncertainty among investors regarding the second wave of the COVID-19 pandemic and an anticipated stimulus package in the United States. The pan-continental STOXX Europe 600 index closed lower by 0.14%. In France, the CAC40 index slipped 0.05%, while the German DAX settled lower …

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  • 22 October 2020 8:38 pm

    US Existing Home Sales at Record High

    Home sales in the United States rose to their highest level in 14 years during the month of September, data by the National Association of Realtors showed on Thursday. Existing home sales surged by 9.4% to a seasonally adjusted annual rate of 6.54 million units last month, its highest level …

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  • 22 October 2020 7:43 pm

    US Natural Gas Inventories Rise in Week

    Natural gas inventories in the United States increased by 49 billion cubic feet last week, according to data by the US Energy Information Administration (EIA) The rise in gas stockpiles came below market expectations of a 51 billion cubic feet increase for the week ended October 16. Natural gas inventories …

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  • 22 October 2020 5:52 pm

    S&P 500, Nasdaq Edge Higher as Investors Cling to Stimulus Hopes

    The S&P 500 and Nasdaq Composite Indexes rose slightly at the open Thursday as investors pinned to hope for new financial stimulus, while shares of the Dow Jones Industrial Average fell after new data indicated a slowing economic recovery. S&P 500 rose 2.94 points, equivalent to 0.09%, to reach 3,438.50 …

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