Daily Economic Reports

Bitcoin hovered near record highs on Friday, and is heading for gains of more than 20% in a historic week during which it saw the support of large companies like Elon Musk’s Tesla, while the weak US labor market continued to put pressure on the dollar. The most popular cryptocurrency …

The Organization of the Petroleum Exporting Countries (OPEC) is expecting the global demand for crude oil to rise by 5.8 million barrels per day (b/d) in 2021, decreasing its previous expectations by about 100,000 b/d. Extended lockdowns and the re-introduction of partial lockdowns in a number of countries has resulted …

The International Energy Agency said today, Thursday, that global oil supplies are still exceeding demand due to the continuing general isolation measures aimed at combating the Coronavirus and the spread of its strains, but vaccines should help to recover demand and quickly allow producers to pump more. The Paris-based Energy …

The dollar fell during a quiet Asian session, after weaker than expected inflation data in the United States for January and the Federal Reserve’s repetition of its monetary easing stance, but the US currency compensated for some of its losses with the opening of European markets. Data on Wednesday showed …

Platinum prices surged on Wednesday to their highest level in six years, with increased demand from investors driving the surge in the precious metal futures. According to market experts, platinum is attracting more investments now as it nears its third year in a row with a global supply deficit. In …

The proceedings of former United States President Donald Trump’s second impeachment trial in the U.S. Senate began earlier today. For hours on Tuesday, Democratic members of the House of Representatives who are impeachment managers as well as Trump’s defense team debated the constitutionality of the impeachment trial. Trump’s lawyers argue …

The dollar is facing difficulties to rise from its lowest level in a week on Tuesday, February 9th, as traders went anxious about the outlook for the greenback with the future of major US financial stimulus package. Investors have pushed the dollar higher in recent weeks, as Democrats move quickly …

The President of the European Central Bank (ECB), Christine Lagarde, delivered on Monday a speech to the plenary session of the European Parliament, which is drafting a resolution for the ECB Annual Report. Lagarde acknowledged that the start of vaccination campaigns provides hope, but noted that people across Europe are …

The dollar fell during a quiet Asian session, after weaker than expected inflation data in the United States for January and the Federal Reserve’s repetition of its monetary easing stance, but the US currency compensated for some of its losses with the opening of European markets. Data on Wednesday showed …

The dollar is heading towards recording its best weekly performance in three months Friday, February 5th, driven by growing confidence that the US economic recovery will surpass its global peers. The dollar index touched its highest level in two months in Asian trading in light of indications of the strength …