The Governor of the Bank of Finland, Olli Rehn, said on Monday that the European Central Bank (ECB) needs to continuously review its strategy. “I would consider it a good idea that going forward we would review the ECB’s monetary policy strategy regularly, for instance every five years.”“We have detached …

Oil prices declined on Friday to settle at their lowest closing level in about five months, as a negative outlook for the recovery of global demand persists, with uncertainty surrounding the future of output cuts. Brent crude futures for December delivery declined by 19 cents, or 0.5%, and closed at …

Gold prices rose on Friday to limit its third consecutive weekly decline, amid uncertainty that is dominating the market. Gold futures for December delivery rose by $11.90, or 0.6%, and settled at $1,879.90 per ounce, its lowest closing level since September 25. For the week, gold futures posted a 1.3% …

The number of active oilrigs in the United States rose by 10 to 221 during the week, according to the weekly report by Baker Hughes released on Friday. This is the sixth consecutive weekly increase in active rigs drilling for oil in the US. A decline in natural gas rigs …

The global demand for gold declined during the third quarter (Q3) of 2020 by 19% year-on-year. Demand during Q3 for the yellow metal amounted to 892 metric tons, the lowest quarterly level registered since 2009, according to data by the World Gold Council. Meanwhile, investments in the gold sector rose …

The US Dollar (USD) is rising on Friday against the Swiss Franc (CHF), supported by increased demand amid uncertainty. The USD/CHF pair is rising and is close to finishing the week in gains. The pair is trading higher for the day by 0.22% at 0.9172. The pair has been moving …

The US Dollar (USD) is rebounding against the Japanese Yen (JPY) on Friday, after showing a negative performance earlier in the day. The USD/JPY pair is marginally up for the day by 0.02% at 104.63, and has been moving throughout the day between 104.130 and 104.740, facing strong resistance at …

European stocks closed higher on Friday, supported by positive economic data in the Eurozone. The STOXX Europe 600 index rose by 0.30% and finished at the level of 342.77, falling by 5.3% for the week. Meanwhile, the UK’s FTSE100 slipped by 0.08%, while the German index DAX declined by 0.36%. …

Consumer spending in the United States increased by 1.4% in September, exceeding market expectations. This comes after consumer spending rose by 1% in August, a level that was expected to be maintained last month. It is worth noting that consumer spending makes up around two-thirds of economic activity in the …

The US Dollar (USD) is stabilizing on Friday against major currencies after fluctuating earlier in the day, as it moved from the negative territory to be mostly unchanged from its closing level yesterday. The Dollar Index (DXY) is marginally down by 0.1% at 93.86. The index has been moving in …