Market Update

The safe-haven yen and the US dollar started the week on the rise against more risky currencies such as the Australian dollar, as the rise in Covid-19 cases and the decline of stocks in Asia led to a state of caution ahead of the Federal Reserve (US Central Bank) meeting …

The United States is the “inventor of coercive diplomacy”, China’s vice foreign minister Xie Feng told U.S. Deputy Secretary of State Wendy Sherman on Monday, according to a statement on the foreign ministry website.

Cryptocurrencies rallied strongly today, with Bitcoin surge during the morning by more than 15%, on news that Amazon may be adding cryptocurrencies as a payment method. Elon Musk tweeted that this is the “big bang.” The e-commerce giant is reportedly hiring experts for blockchain and cryptocurrency payments among the latest …

China asks the US to remove visa restrictions on Chinese communist party members, Xinhua News Agency reported, citing comments from the country’s Vice Foreign Minister Xie Feng following his meeting with the US Deputy Secretary of State Wendy Sherman.

Silver finished the week with large losses that are the biggest in five weeks, due to the diminishing demand for safe havens as reflation fears eased and risk appetite improved among investors. The silver metal has now maintained a downward trend for three consecutive weeks. Silver futures lost 14.70 cents …

Oil prices continued to rise on Friday for the fourth consecutive session, scoring their first weekly rise in four weeks, with investors shrugging off concerns about output policy and a slower than expected recovery from the coronavirus crisis. The global benchmark Brent crude futures for September delivery added 31 cents …

Gold prices declined on Friday, extending their weekly decline that snapped a four-week rising streak, amid the rise of the U.S. Dollar (USD) and an improvement in risk appetite among investors, who seem to be less worried about reflation and slow recovery concerns. However, the yellow metal was supported by …

European stocks finished higher on Friday for the fourth consecutive session, extending their weekly gains and hitting a new all-time high amid an improvement in risk sentiment among investors. The STOXX Europe 600 index surged by 4.98 points or 1.09% to close at a record 461.51 points. For the week, …

The number of crude oil and natural gas rigs in the United States increased for the fourth consecutive week, data showed on Friday. This is the first time that the total rig count registers four straight weekly rises since May. The total rig count rose by seven to 491 in …

The Canadian Dollar (CAD) is showing a mixed but mostly negative performance against the U.S. Dollar (USD) on Friday after data showed a better than expected slump in Canadian retail sales. In addition, with improving daily performance by oil futures, the Canadian is gaining relative support as a commodity currency …