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The Euro (EUR) achieved huge gains against the US Dollar (USD) on Tuesday, after the historic agreement between the European Union’s (EU) leaders regarding the EUR 750 million COVID-19 recovery fund. The EUR gains were enhanced by a decline in USD across the board. The dollar index (DXY), which measures …

European stocks closed at their highest level in four months, supported by the historic agreement between the European Union’s (EU) leaders regarding the EUR 750 million recovery fund, which aims at stimulating the bloc’s economy amid the COVID-19 crisis. STOXX Europe 600, the pan-European index, gained 0.3% and closed Tuesday …

Silver prices rose on Tuesday to their highest level since 2014, increasing by more than 80% from its lowest registered earlier this year. Increased demand on safe havens is helping the white metal maintain a rising streak, coping with the recent surges in gold prices. Silver futures advanced by roughly …

Oil prices surged by more than 3% on Tuesday, reaching its highest level in more than four months. This comes as the recently announced agreement between the European Union (EU) leaders on the EUR 750 million recovery fund renewed hopes for a strong economic recovery, coupled with positive reports about …

US Treasury yields slightly declined on Tuesday as the market remains impacted by the increasing number of COVID-19 cases. Returns on the two-year notes declined by 0.4 basis points to 0.1452% Meanwhile, the benchmark 10-year yield retreated by 1.5 basis points to 0.6053%, according to Reuters. Yields on the decreased …

A second wave of the coronavirus disease (COVID-19) in countries such as the United States could negatively impact European economic growth, Vice President of the European Central Bank (ECB), Luis de Guindos, has warned. The Eurozone economy contraction was better than previously expected during the second quarter (Q2) of 2020. …

US stock markets opened higher on Tuesday as the Nasdaq Composite Index reached an all-time high with policymakers prepares proposals for a fifth stimulus package. The Nasdaq rose 48 points, or 0.5%, at 10813, while the Dow Jones rose 208 points, or 0.8%, to 26,889, and the S&P 500 rose …

Monthly data released by Statistics Canada on Tuesday revealed that Canada’s retail sales rose 18.7% in May to $ 41.8 billion.This reading came after a 19.1% increase in May’s advanced estimates, and slightly worse than the 20% market forecast.

The GBP/USD rose for the third straight session on Tuesday as the USD continued to sell on the optimism about Covid-19 vaccine and the European Recovery Fund agreement, which weakens the US dollar as a safe haven. GBP/USD jumped to more than 1.2700 levels, six-week highs, but then retreated somewhat. …

“China’s economic recovery leads the world, we will strive to make up economic losses caused by coronavirus epidemic,” Chinese President Xi Jinping told the state television on Tuesday, as reported by Reuters. “We will strive to achieve good results for economic growth this year,” Xi added and noted that they …