Market Update

Gold prices fell on Tuesday, April 20, after hitting a seven-week high in the previous session, as US bond yields favored a recovery in the face of support represented by the weakening of the US dollar. Gold fell in the spot market 0.1% to $1768.01 an ounce, after hitting $1789.77 …

Oil prices rose to the highest level in more than Tuesday, April 20, as the decline in the US dollar supported commodities and due to expectations of a decline in crude stocks in the United States, the largest consumer of fuel in the world, but the increase in Coronavirus cases …

The New York Stock Exchange (NYSE) closed lower on Monday, following a week that saw multiple record-breaking, as Wall Street investors leaned towards profit making. The Dow Jones Industrial Average declined by 123 points, or 0.36%, to finish at 34,077.63 points. The S&P 500 index fell by 22.21 points, or …

Goldman Sachs is expecting the Euro (EUR) to continue to rise against the U.S. Dollar (USD), advising investors to go long on the European currency, according to a recent note. Following the report, the EUR/USD pair reached its highest level in about six weeks on Monday. The investment bank is …

Oil prices finished higher on Monday, due to supply disruptions in Libya and expectations for a recovery in the global demand. Brent Crude futures for May increased by 24 cents, or 0.36%, to $67.01 per barrel. Meanwhile, the May West Texas Intermediate (WTI) crude futures gained 25 cents, or 0.4%, …

The British Pound (GBP) is rising on Monday against the declining U.S. Dollar (USD), supported by improved expectations in the UK and the anticipation for upcoming economic data. The GBP/USD pair is trading higher for the day by 1.13% at 1.3988. The pair has exceeded its best level in over …

Gold prices closed lower on Monday, after recording its best weekly performance since December 18 last week. The yellow metal’s decline comes despite the decline of the U.S. Dollar (USD) near its lowest level in about six weeks. Gold futures for June delivery decreased by $9.60, or 0.5%, to finish …

European stocks closed slightly lower on Monday, following surges to new record highs by the end of last week. Mixed signals and a decline in Wall Street seemingly left their toll on the European stock exchanges. The pan-European STOXX 600 index closed marginally lower by 0.15 points to finish nearly …

The U.S. Dollar (USD) continued to decline on Monday, starting the week in a downward trend as the risk appetite among investors continue to improve. The Dollar Index (DXY) that measures the greenback against six currencies is down by 0.43% at 91.16. Earlier today, the index fell as low as …

Housing starts in Canada increased to 273,664 units last month up from 252,636 units in February, data by Canada Mortgage and Housing Corporation (CMHC) showed on Monday. The standalone monthly seasonally adjusted annual rates (SAAR) of housing starts for all areas in Canada stood at 335,200 units in March, rising …