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Market Analysis

September, 2020

  • 22 September 2020 10:57 am

    Powell: Fed is Committed to Use All the Tools to Help The Recovery

    Federal Reserve Chairman Jerome Powell said Monday that the US central bank remains committed to using all the tools at its disposal to help the world’s largest economy recover from the blow it took from the coronavirus pandemic. “We remain committed to using our tools to do what we can, …

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  • 22 September 2020 10:51 am

    British Newspapers: Johnson Will Ask Britons to Return to Work From Home

    The British Telegraph newspaper reported that Prime Minister Boris Johnson will encourage Britons to return to work from home if possible to help contain the outbreak of the Coronavirus. The newspaper’s chief political correspondent said in a tweet on Twitter, citing sources, that Johnson told lawmakers that “moving now means …

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  • 22 September 2020 10:45 am

    Gold Rises And New Isolation Measures Overshadow The Dollar’s Strength

    Gold rose within a narrow range Tuesday, September 22nd, as fears of a surge in COVID-19 cases across Europe addressed the pressure of the dollar’s strength on the precious metal, ahead of words for decision-makers in the US Federal Reserve this week. Gold rose in the spot market 0.1% to …

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  • 22 September 2020 1:59 am

    Dow Closes Lower by 510 Points

    The New York Stock Exchange (NYSE) closed Monday lower, amid risk aversion by investors and selling pressures. The Dow Jones Industrial Average plunged by about 510 points, or 1.84%, and closed at 27,147.70 points. The S&P 500 index closed lower by 38.41 points, or 1.16%, at 3,281.06 points. Meanwhile, the …

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  • 22 September 2020 1:50 am

    US Treasury Yields Decline Amid Increased Demand

    US Treasury yields declined on Monday, as risk aversion and selling pressures in stock markets led more investors towards safe havens, thus, increasing demand. Return on the 10-year Treasury notes decreased by 2.4 basis points to 0.670%. The yield on the 30-year bond plunged by 2.7 basis points to 1.426%. …

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  • 22 September 2020 12:43 am

    Oil Prices Close Lower by 4%

    Oil prices declined on Monday, amid a negative outlook for global and European demand with the rising number of COVID-19 cases, as well as anticipation for the resumption of crude production and exporting in Libya. Brent crude futures for November delivery dropped by $1.71, or 4%, and closed at $41.44 …

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  • 22 September 2020 12:35 am

    Gold Closes at Lowest Level in Two Months

    Despite a decline in risk appetite among investors, gold prices plunged on Monday as the US Dollar (USD) registered large gains. Gold futures for December delivery decreased by $51.50, or 2.6%, and settled at $1,910.60 per ounce. Earlier today, the yellow metal futures were trading below $1,889 an ounce. This …

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  • 22 September 2020 12:06 am

    NZD/USD Erases Last Week Gains Below 0.6666

    The New Zealand Dollar (NZD) registered huge losses on Monday, as the US Dollar (USD) rebounded with large gains and investors showing increased risk avoidance. After rising to its higher level in a year and a half by the end of last week, the NZD/USD pair erased its gains earlier …

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  • 21 September 2020 11:44 pm

    AUD/USD Drops Sharply with Selling Pressures

    The Australian Dollar (AUD) fell on Monday against the US Dollar (USD), mainly due to the rise of the latter and risk avoidance by investors. The AUD/USD is close to finishing the first session of the week down by 0.95% for the day at 0.7220. Earlier today, the pair reached …

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  • 21 September 2020 11:07 pm

    European Stocks Register Large Losses

    European stocks finished the first session of the week lower, amid concerns over a second wave of the Coronavirus (COVID-19) pandemic across many European countries, as well as the banking sector facing serious legal allegations. The Stoxx Europe 600 index fell by 3.35% and closed Monday at 356.43 points. The …

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  • 21 September 2020 10:23 pm

    Fed’s Kaplan Expects Unemployment Below 4% by 2023

    Interest rates in the United States are expected to remain near 0% for the next two or three years, President of the Federal Reserve Bank of Dallas Robert Kaplan said on Monday in a TV interview with Bloomberg. Kaplan further expects that unemployment rate would reach 4% or 3.5% by …

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  • 21 September 2020 8:09 pm

    Dollar Opens Week with Strong Gains

    The US Dollar (USD) is showing a strong performance against major currencies on Monday. The Dollar index (DXY), which measures the USD performance against a basket of six international currencies, is up for the day by 0.85% at 93.72 points. The index has been moving between 92.75 and 93.78, mostly …

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  • 21 September 2020 7:22 pm

    Euro Declines Amid Renewed COVID-19 Fears

    The Euro (EUR) is declining against the US Dollar (USD) on Monday, with increasing concerns about the Coronavirus (COVID-19) pandemic leaving their toll on the European currency. The EUR/USD is trading lower for the day by 0.84% at 1.1741. The pair has been moving in a range between 1.1732 and …

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