JP Morgan analysts said in a weekly note that the continued rise in oil prices is expected to stimulate an increase in US crude production this year. The bank now expects US crude oil production to average 11.78 million barrels per day in December 2021, up 710,000 barrels per day …

The European Union’s statistics office Eurostat said today that industrial production for the Eurozone was much stronger than expected in January and revised up significantly in December, indicating that the new year has begun to improve despite the continuing Covid-19 pandemic. Eurostat said industrial production in the 19-nation Eurozone rose …

The dollar rose today, recovering from losses incurred the previous day, as a strong rise in Treasury yields in the early European session sparked risk aversion moves in global currency markets, while riskier currencies were hit. Market dealers are growing anxious in recent weeks about the possibility of a strong …

Higher bond yields pushed European stocks lower today, but the main stock exchanges are heading for strong weekly gains as stimulus and immunization campaigns from the Coronavirus raise hopes for a strong economic recovery. The European STOXX 600 index fell 0.4% in early trade, after a series of gains over …

Brent crude prices declined today, but hovered near $70 a barrel, as cuts made by major crude producers restrict supplies, while the market is also supported by optimism about the recovery in demand in the second half of the year. Brent crude futures for May delivery fell 33 cents, or …

The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Friday, suggesting that Britain’s industrial sector is facing a hard time amid the covid-induced lockdowns. Manufacturing output arrived at 2.3% MoM in January versus -0.8% expectations and 0.3% booked in December while total industrial output came in …

Official data revealed today that Britain’s economy shrank by 2.9% in January compared to December, a less severe pace than expected, as the country again entered into general isolation measures aimed at combating the spread of the Coronavirus. Economists polled by Reuters had expected a contraction of 4.9%. The Bank …

Gold prices plummeted today as high US revenues and the strength of the dollar imposed pressure on the yellow metal, but it is heading to record its best weekly performance in seven weeks. In spot transactions, gold lost 0.3% to $1716.86 an ounce in Asian trading. The metal fell to …

Japanese stocks rose for the fourth session in a row, as technology stocks rebounded while investor sentiment remained supported by expectations that low-interest rates and large fiscal spending will continue to support global economic growth. The benchmark Nikkei index rose 1.73% to 29,717.83 points. The broader Topix index rose 1.36% …

Positive trading dominated the movements of the German DAX index during the previous session, touching our first target at 14,580, recording its highest level at 14,593. On the technical side today, we tend to be positive, depending on the positive motive of the 50-day moving average, in addition to trading …