Profits for Chinese industrial companies rose in October for the sixth consecutive month and reached the fastest pace since early 2017, indicating a strong recovery in the manufacturing sector after being hit hard by the Covid-19 pandemic. According to data from the National Bureau of Statistics on Friday, profits of …
Read More »Gold Plummets to Fresh Multi-Month Lows
The precious metal came under sudden selling pressure against the US dollar, falling to its lowest level since July at 1782.28. There is not much fundamental catalyst behind this move but the technical selling could arise below the psychological level of $1800.
Read More »Economic Sentiment in Turkey Fell 3.5% in November
Data from the Turkish Statistical Institute showed today, Friday, that Turkey’s economic sentiment index fell 3.5% on a monthly basis in November to 89.5 points, as an increase in the frequency of new cases of coronavirus pushed Ankara to impose partial restrictions. The index had risen for six consecutive months …
Read More »Dollar Declining And Heading For Weekly losses. AUD and NZD Climbing
The dollar fell in early trading in London on Friday and is heading to suffer a weekly loss against a basket of currencies, even though the stock market lost momentum as sentiment hurt from doubts about the AstraZeneca vaccine for Covid-19. The dollar has lost more than 2.2% since the …
Read More »European Stocks Heading For a Fourth Weekly Gain, But Vaccine Concerns Are High
European stocks rallied on Friday, as investors were cautious before the torrent of economic data expected to be released later today, while sentiment was also affected by doubts about the effectiveness of the AstraZeneca vaccine for Covid-19. The pan-European STOXX 600 index fell 0.1%, as the travel and energy sectors …
Read More »Germany Planning New Debt of Around 180 Billion Euros in 2021
Germany intends to borrow 179.82 billion euros (214.36 billion dollars) next year, nearly double the 96 billion euros expected before that, lawmakers told Reuters on Friday, as Berlin is expanding aid measures to mitigate the impact of the Covid-19 pandemic on Europe’s largest economy. The German parliament’s budget committee of …
Read More »Gold Heading For a Weekly Decline as Investors Focus on Vaccine Headlines
Gold fell on Friday and is heading to record its third consecutive weekly loss, as investors balance doubts about a Covid-19 vaccine that tops the nominations and optimism that the vaccines will arrive sooner than expected. Gold fell in immediate trading 0.1% to $ 1809.40 an ounce, with a weekly …
Read More »The Number of Coronavirus Cases in Germany Exceeds One Million
Data from the Robert Koch Institute for Infectious Diseases showed today, Friday, that 22,806 new confirmed cases of Coronavirus were recorded in Germany, bringing the total to one million and 6,394 cases. The data revealed that 426 new deaths were recorded, bringing the total number to 15,586.
Read More »Oil is Retreating as Rally Recedes But Heading For Weekly Gains
Oil prices fell today, Friday, in quiet trading due to the Thanksgiving holiday in the United States, as they fell amid fears of an increase in supply and doubts about the possibility of eliminating a vaccine against the Coronavirus pandemic. With the Japanese markets closed, Brent crude fell to $ …
Read More »Japan’s Nikkei Rose For a Fourth Day And Closed at a 29-Year High
The Japanese benchmark Nikkei stock index closed today, Friday, at its highest level since April 1991, as it rose for the fourth consecutive session, supported by hopes for economic recovery and strong business results, after progress in developing the Covid-19 vaccine. The Nikkei rose 0.41% to close at 26,644.71 points. …
Read More »