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Market Analysis

October, 2020

  • 2 October 2020 4:58 pm

    NFP Rise by 661K in September

    Nonfarm Payrolls (NFP) in the US rose by 661,000 in September, the data published by the US Bureau of Labor Statistics showed on Friday. This reading followed August’s increase of 1,489,000 (revised from 1,3171,000) and fell short of the market expectation of 850,000.

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  • 2 October 2020 4:24 pm

    ECB: Europe Must Prepare to Launch a Digital Euro ‘if and when’ Necessary

    ECB council member Fabio Panetta said the bank should prepare for a digital euro issue that complements securities “if and when” necessary. Major central banks around the world are studying digital versions of their currencies in response to demand for electronic payments and to counter competition from private currencies such …

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  • 2 October 2020 4:18 pm

    Turkey’s Trade Deficit Jumps 193% Year-on-Year in September

    Data from the Ministry of Trade showed that Turkey’s trade deficit rose 192.7% Y-o-Y in September to $ 4.88 billion, according to the general trade system. The data reveal that imports increased by 23.32% to 20.89 billion dollars, while exports rose 4.84% to 16.01 billion.

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  • 2 October 2020 4:16 pm

    Eurozone Inflation is Negative Again at its Lowest Level in 4 Years

    Inflation in the Eurozone fell to its lowest level in more than four years, falling further in the negative zone than expected in September and raising fears of a price deflation spiral due to the Covid-19 pandemic. The European statistics office Eurostat said in preliminary estimates that consumer prices in …

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  • 2 October 2020 2:34 pm

    Gold Continues Gains After Trump

    Gold continued to record gains, making its way to its best weekly performance in nearly a month, as investors run to safe haven after President Trump tested positive for the Corona virus. Gold spot rose 0.5% to 1915.34 dollars an ounce, erasing losses it incurred in early trade in Asia. …

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  • 2 October 2020 1:45 pm

    Oil Continues to Decline After Trump Has Tested Positive for Covid-19

    Oil prices continued to drop to more than 3% after President Trump said he and his wife had tested positive for Covid-19 besides existing concerns about demand. Brent crude fell after Trump’s headlines, down 1.47 cents, or 3.6%, to $ 39.4 a barrel, and US crude fell $ 1.40, or …

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  • 2 October 2020 12:40 pm

    European Stocks Lower as Trump Tested Positive For Coronavirus

    European stocks retreated after US President Donald Trump tested positive for Covid-19, which negatively affected stock markets around the world. The pan-European STOXX 600 index fell 1%. The German DAX index and the French CAC 40 index fell 1.3%, while the British FTSE 100 index fell 1%. Today, Friday, Trump …

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  • 2 October 2020 12:09 pm

    Russian Oil And Gas Condensate Output up in September

    Interfax reported, citing Russian Energy Ministry data, that oil and gas condensate production rose to 9.93 million bpd in September from 9.86 million bpd in August. Production of oil and gas condensate reached 40.65 million tons in September compared to 41.7 million tons in August. The OPEC + agreement excludes …

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  • 2 October 2020 11:26 am

    Dollar And Yen Jump After Trump Tested Positive For COVID-19

    The dollar jumped and the safe-haven yen reached its highest levels in a week after US President Donald Trump said he had tested positive for COVID-19 and begin a quarantine. The news could cause a new wave of volatility in the market as investors prepare for the November presidential election. …

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  • 2 October 2020 10:42 am

    US Stock Futures Fall After Trump

    Futures contracts for major US stock indices fell after US President Donald Trump announced that he and First Lady Melania had tested positive for Covid-19. The Dow Jones index futures fell more than 400 points, the S&P 500 futures index fell by 2%, while the futures contract on the Nasdaq …

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  • 2 October 2020 10:14 am

    Trump Says He Has Tested Positive For Covid-19

    President Trump announced in a tweet early Friday morning that he and his wife Melania have both tested positive for Covid-19. “We will begin our quarantine and recovery process immediately,” he wrote. “We will get through this TOGETHER!” The news came just hours after it was announced that Hope Hicks, …

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  • 2 October 2020 1:38 am

    Wall Street Closes in Green

    The New York Stock Exchange (NYSE) finished higher on Thursday, amid anticipation for a new economic stimulus package. The Dow Jones Industrial Average increased by 35.2 points, or 0.1%, and closed at 27,816.90 points. The S&P 500 index closed higher by 17.8 points, or 0.5%, at 3,380.8. The Nasdaq Composite …

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  • 2 October 2020 1:27 am

    Oil Prices Fall to Lowest in Two Weeks

    Oil prices declined on Thursday, to finish at its lowest level in about two weeks, amid renewed concerns about the global demand recovery and the rising number of COVID-19 cases in many countries. Brent crude futures for December delivery fell by $1.37, or 3.2%, to close at $40.93 per barrel, …

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