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Brent. November 27, 2020 – Oil is correcting after an upward rally Yesterday Brent began to decline, interrupting the upward rally. Prices failed to hold on to the reached maximum near $49 per barrel and retreated to $47.45. The current quotation is $48.40 per barrel. Most likely, the driver of the decline was the news that Venezuela, despite the US sanctions, resumed oil supplies to China. This once again caused investors to worry about a possible oversupply of oil. The Venezuelan state-owned company PdVSA signed a contract with China to resume oil supplies in August this year.

EUR/USD. November 26, 2020 – Euro will continue to rally Yesterday, the EUR/USD pair renewed its early September high at 1.1940, later declining to 1.1900. The European currency is supported by optimistic investor sentiment: the markets expect that an effective Covid vaccine will appear in the near future, which can contribute to a rapid recovery of the global economy. The short-term strengthening of the dollar yesterday was caused by strong data on new home sales in October: the indicator rose to 999 thousand against the September value of 959 thousand. The positive statistics

Thanksgiving is just around the corner! Note some schedule changes Warm Thanksgiving wishes to our traders this holiday season! We want to draw your attention to some changes in the schedule of trade on November 26-27 due to this happy holiday. November 26: CFDs on Shares of American companies will be untradable all day long; Trading Spot Metals and Energy will close at 8:00 p.m. terminal time. November 27: Trading CFDs on Shares will close at 8:00 p.m. terminal time; Trading Spot Metals and Energy will close at 8:45 p.m. terminal time. The schedule will be

Brent. November 25, 2020 – Oil continues to renew highs The oil market continues to grow, hitting multi-month highs. Brent is currently quoted at $48.50 per barrel. Prices are supported by hopes for improved economic outlook and increased demand for hydrocarbons. Pharmaceutical companies continue to share positive news of the success of the Covid vaccines, boosting hopes for a fast global recovery and resumption of international travel. Additional support for oil was also provided by the results of the recent US presidential election, which was won by the representative of the D

EUR/USD. November 24, 2020 – Euro is recovering from yesterday's drop to 1.18 Yesterday the euro rate fell sharply to the level of 1.18, but today the EUR/USD quotes returned to the 1.1880 level. The dollar was supported yesterday by the statistics from the US, which came out stronger than expected and somewhat reduced the fears of market participants about the downturn in the economy. In particular, the preliminary index of business activity in the manufacturing sector from Markit showed an increase in November to 56.7 points against 53.4 earlier. Business activity in the service se

EUR/USD. November 23, 2020 – Euro reached the level 1.1900 EUR/USD maintains upward momentum, approaching the 1.1900 level. The current quote for the asset is 1.1890. Emotions after the presidential elections in the United States have gradually subsided and now all the attention of the markets is shifting to negotiations in Congress on a new stimulus package for the American economy. Moreover, support for risky assets at the moment is provided by news on the vaccine. The UK is expected to approve a vaccine from Pfizer this week. Friday's statistics from the euro area showed that

GBP/USD. November 20, 2020 – Unexpectedly strong retail sales data supported sterling Despite the growing risks of a «hard» Brexit, the GBP/USD pair continues to move to local highs in the 1.3300 area. The current quote is 1.3280. The dynamics of the pair was influenced by the statistics on the labor market in the UK. The number of applications for primary unemployment benefits for the week increased from 711 to 742 thousand against the forecast of 707 thousand. At the same time, investors were pleased with the reduction in secondary circulation from 6.801 million to 6.372 million ag

EUR/USD. November 19, 2020 – Euro shows decline At the end of yesterday's session, the EUR/USD pair weakened to the level of 1.1810. The current quote for the pair is 1.1835. The drivers of the decline were the correction of stock indices and gold, which fell in price after the news from Pfizer. The pharmaceutical company said the new COVID-19 vaccine is 95% effective, up from the previously announced 90%. And gold, as a rule, correlates positively with the European currency, therefore, the decline in the precious metal caused a correction in EUR/USD. The EU summit on the fight

Brent. November 18, 2020 – Oil in positive territory despite negative external background Brent oil quotes continue to rise. Current price is $44.20 per barrel. «Bulls» were not stopped even by data from the American Petroleum Institute (API), according to which oil reserves in the United States rose by 4.2 million barrels over the week. Today you should pay attention to a similar report from the US Department of Energy. Yesterday, a meeting of the OPEC+ ministerial monitoring committee was held, which ended without recommendations for a production cut in 2021. Previously, market par

Brent. November 17, 2020 – Oil holds in September highs Yesterday, Brent quotes managed to reach the level of $44.60 per barrel, which was the highest since mid-September. The current quotation of the asset is $43.77. Prices are being supported by improved market sentiment amid reports of a new coronavirus vaccine. It became known that Moderna achieved 94.5% efficiency in trials of its drug from Covid, which strengthened investors' hopes for a global economic recovery, as well as demand for hydrocarbons. Additional support for Brent was provided by macroeconomic data from China: indu

GBP/USD. November 16, 2020 – Pound shows high volatility in Brexit negotiations The new week started with a weakening of the pound sterling to 1.3160 from 1.3240. The British currency is under pressure from news on Brexit and trade negotiations between London and Brussels. A spokesman for British Prime Minister Boris Johnson said on Friday that previous differences over equal terms of trade and fisheries remain in trade negotiations with the European Union. The politician noted that negotiations will resume this week. There is about a month and a half left until the end of the transi

GBP/USD. November 12, 2020 – Pound falls on weak economic data On Thursday, the GBP/USD pair continues to decline, following the dynamics of yesterday. The current quote for the asset is 1.3145. Uncertainty around Brexit continues to exert pressure on the pound sterling. Under current agreements, the UK and the EU must agree on an initial draft of the deal by November 19. The final agreement of the contract should take place before the end of December 2020. Despite the ongoing negotiations, there is still no draft agreement, so the risks of a «hard» Brexit (without a deal) are g

EUR/USD. November 11, 2020 – Euro continues to weaken against the dollar On Wednesday, the EUR/USD pair fluctuates weakly on both sides of the 1.1800 level, while the downward trend remains. Weak economic statistics from Germany put pressure on the euro: the ZEW economic sentiment index fell to 39.0 points, which was the lowest level since April this year. An additional negative is the worsening of the epidemiological situation in Europe. At the same time, participants in the foreign exchange market are concerned about Donald Trump's attempts to annul the voting results in Michigan a

Note the trade changes due to US Veterans Day Dear traders! Please note some changes in the trading schedule in observance of the Bank Holiday on Veterans Day. This holiday, originally known as Armistice Day, is a federal holiday in the United States observed annually on November 11, for honoring military veterans. We draw your attention, that trading metals and CFDs on shares of American companies will be unavailable all day long. Please take this information into account when trading. The schedule will be back to normal from the following day. For more information, please

Brent. November 10, 2020 – Oil shows strong upward momentum On Tuesday, Brent crude oil continues to rise, following the dynamics of yesterday. The current quotation of the asset is $42.88 per barrel. Experts note that such an upward trend has become the best over the past 6 months. The growth driver was the news from the pharmaceutical company Pfizer that the vaccine it has developed is capable of protecting in 90% of cases of COVID-19 infection. The company said that they plan to obtain permission to sell the new drug by the end of November. A cure for the coronavirus could si