National Statistics Institute said in its monthly report today, Friday, that Italian key economic indicators have returned to levels that were only recorded before the emergency health crisis of Coronavirus, but expectations for the coming months are still shrouded in uncertainty. Last week’s data showed that Italy’s GDP 16.1%, much …
Read More »Fitch Expects Increased Risks With Turkish Lira Reaching a Fresh Low
Turkey has not tightened policy enough to support the lira, which hit a new low on Friday, a senior analyst at Fitch Ratings said, and that the country’s foreign exchange reserves and external financing remain weaknesses. “more pressure from the currency, double-digit inflation and the erosion of foreign exchange reserves …
Read More »Halifax: UK House Prices Rose at The Fastest Annual Pace Since 2016
Mortgage Halifax said British home prices rose in October at the fastest annual pace since June 2016, although there were signs of momentum dissipating as the COVID-19 pandemic escalated. Halifax added that house prices increased 7.5% in October compared to a year ago, and compared to a 7.3% annual growth …
Read More »European Stocks Losing Momentum After a 5-Day Rally
European stocks faced difficulties to gain momentum today, Friday, after a strong rally this week, as Italy and France recorded record numbers of cases of Coronavirus, while the counting of votes in the US elections continues. The pan-European STOXX 600 index fell 0.1%, after five days of gains that put …
Read More »US Election: Biden Takes The Lead in Georgia, With 99% of Estimated Votes Tallied
With 99% of the estimated votes tallied in Georgia, there seems to be a flip in the expected outcome, as the former Vice-President Joe Biden takes the lead. President Trump lost footing in the battleground after his lead continued to narrow in the last hours.
Read More »German Industrial Production Rose Less Than Expected in September on Covid-19 Fears
Data on Friday showed that German industrial production rose less than expected in September as the Coronavirus crisis curbed activity, in new evidence that the recovery from the pandemic shock is slowing down in Europe’s largest economy. Figures released by the Federal Statistics Office showed that industrial production increased 1.6% …
Read More »Gold Falling With Dollar’s Rally, But Heading For Best Week in More Than 3 Months
Gold fell on Friday as the dollar rose, but the yellow metal is on track to record its best weekly performance since late July, thanks to hopes of more central bank support, as investors bet on a split in the US Congress under the presidency of Joe Biden. And gold …
Read More »Oil Declining as Covid-19 Cases Rise And Vote Count Continues in America
US oil fell more than 2% on Friday, as new lockdown measures in Europe to stem the rise in Covid-19 cases fueled concerns about the outlook for demand, while markets remain in a state of tension due to the long-running US election counting. West Texas Intermediate crude fell $ 1.06, …
Read More »The Dollar Expecting More Losses on Continued Votes Count
The dollar stabilized against several currencies on Friday, but traders say it is likely to incur more losses as the controversial US presidential election dashes hopes of a major stimulus to support the economy anytime soon. Investors are betting that Democratic candidate Joe Biden will become the next president, but …
Read More »Germany’s Dax Consolidates Gains
The German DAX managed to achieve the expected positive outlook, touching the official target required to be achieved in the previous session at 12470, peaking at 12580. The technicals are indicating the possibility of resuming the rally, given the price consolidating above the previously breached resistance turned into support at …
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