Market Update

One out of every three new cases infected with the novel coronavirus (COVID-19) in the United States were in Florida and Texas last week, according to a Biden administration counselor. Jeff Zients, White House Coronavirus Response Coordinator, told reporters in a press briefing on Monday that 17% of cases were …

The New York Stock Exchange (NYSE) finished Monday mostly in losses, erasing earlier gains amid worries about recovery from the coronavirus pandemic, with the rising number of infections with the new Delta variant, especially after the PMI showed slower expansion in U.S. economic activity last month. The Dow Jones Industrial …

Oil prices closed lower on Monday, amid increased concerns about the pace of economic recovery from the coronavirus pandemic with the rising number of infections with the new Delta variant, especially after indicators showed slower growth in activity in the U.S. and China last month. PMI readings in the world’s …

Gold prices finished higher on Monday as the U.S. Dollar (USD) declined across the board with Treasury bond yields falling to their lowest level in about six months. The yellow metal remains supported by the mixed economic data are concerns over the spread of the novel coronavirus Delta variant. Gold …

An improvement in investors’ sentiment helped European stocks finish at a new record level on Monday, opening the first session of August with a positive performance after gaining about 2% in July. The STOXX Europe 600 index closed higher by 0.59% at a new record high of 464.45 points. Gains …

The U.S. Dollar (USD) is maintaining a downward trend on Monday, opening the week with a negative performance across the board. The Dollar Index (DXY) that measures the greenback against a basket of six major international currencies is down by 0.18% at 92. Earlier today, the index touched a daily …

Construction spending in the United States increased marginally in June, data by the U.S. Department of Commerce showed on Monday. An increase of 0.1% in June brought construction expenditure to a seasonally adjusted annual rate of $1.55 trillion. The May reading was revised upwards to show a 0.2% decline, versus …

In its recently published External Sector Report, the International Monetary Fund noted that they have assessed the US dollar as likely overvalued by 8.2% with a range of 5.2% to 11.2% during 2020, as reported by Reuters.

Data from the Markit released this morning, Monday, showed that the preliminary reading of the PMI data in the manufacturing sector in Germany rose better than expected during this August, as the preliminary reading of the index recorded about 65.9 points, while market expectations indicated that the index would stabilize …

A few days ago, Amazon denied news of its intention to accept Bitcoin as a payment method in the near future, but company officials did not rule out the matter in the future. Hours ago, Saudi Aramco confirmed that the allegations that it plans to engage in Bitcoin activities are …