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The Central Bank of Russia could soon cut interest rates once more to cope with the hardships of the COVID-19 crisis and the inflation risks, according to a market poll reported by Reuters. The move would strengthen the Russian Rouble (RUB) as Moscow aims at restoring economic recovery next year …

The New York Stock Exchange (NYSE) closed higher on Tuesday, supported by positive economic data that showed a rebound in the manufacturing sector. The Dow Jones Industrial Average increased by 215.61 points or 0.8% and closed at 28,645.66 points. S&P 500 gained 26.34 points or 0.8% and finished at a …

Oil prices closed Tuesday higher as positive data for the manufacturing sector in the United States and Canada improved the energy demand outlook. The global benchmark Brent crude futures for November delivery finished higher by 30 cents, or 0.7%, at $45.58 per barrel. Meanwhile, the US West Texas Intermediate (WTI) …

Gold prices closed higher on Tuesday despite giving up some of its earlier higher gains, with the US Dollar (USD) recovering from from its lowest level in nearly two years on the back of strong manufacturing activity data. Gold futures for December delivery finished marginally higher by 30 cents, or …

The Euro (EUR) turned to decline against the US Dollar (USD) after rising earlier today to its highest level since 2018. The EUR/USD pair is trading lower by 0.15% for the day at 1.1918. Earlier today, the pair reached the 1.2011, exceeding the 1.2 mark for the first time in …

The United States Federal Reserve must shift its policy in the coming months to provide the needed support to the economy amid the COVID-19 pandemic, the Fed Administrative Governor, Lael Brainard, said on Tuesday, as reported by Reuters. “It will be important to provide the requisite accommodation to achieve maximum …

The United Kingdom (UK) government sees no prospect for extending the transitional period for BREXIT negotiations. The transition or the implementation period ends on 31 December 2020, however, talks for a new trade agreement between London and the European Union (EU) have recently stalled with a number of disagreements. The …

European stocks closed lower on Tuesday, after giving up its earlier gains amid a mixed performance, continuing to move within a mostly tight range. The Stoxx Europe 600 index closed lower by 0.38%, after rising earlier today by as much as 0.8%. The UK’s FTSE100 plunged by 1.7%, and the …

The Canadian Dollar (CAD) is maintaining some of its gains against the US Dollar (USD) on Tuesday. The CAD is up by 0.04% against the USD, after rising earlier by more than 0.1% to its highest level against the greenback in eight months. The Canadian Dollar is supported by improved …

Safe haven currencies, namely the Japanese Yen (JPY) and the Swiss Franc (CHF) are showing a weak performance on Tuesday, amid decreased demand with improved risk appetite supported by news of new COVID-19 vaccine and treatments. The CHF is leading the decline with its highest losses coming against the New …