Market Update

Gold prices fell as investors preferred alternative safe-haven assets such as the US dollar and bonds after Turkey’s surprising decision to appoint a new central bank governor who was known to criticize high interest rates, which led to uncertainty over fiscal policy. Gold fell in the spot market 0.5 percent …

The lira partially recovered to 7.8 against the dollar on Monday, after falling 15% to an all-time low in early trade following President Recep Tayyip Erdogan’s shocking decision to dismiss the central bank governor. The lira tumbled as much as 8.4850 against the dollar from 7.2185 on Friday, returning to …

Japanese stocks plunged as carmakers were hit after a fire broke out at a factory owned by a semiconductor supplier Renesas Electronics, sparking fears that vehicle production would be hit by further shortages of chips. The Nikkei continued to perform below the level of the broader market after the Bank …

Oil prices fell again, with renewed fears that general isolation measures in Europe could slow an expected recovery in demand for fuel products. Brent fell 34 cents, equivalent to 0.5%, to $64.19 a barrel In Asian trading, US crude lost 21 cents, equivalent to 0.3%, to $61.21 a barrel. The …

Oil prices rose on Friday, supported by concerns about geopolitical risks in the Middle East impacting crude supplies, but could not recover its weekly losses, which are mostly due to worries about the recovery of the global demand. A resurgence in coronavirus cases in Europe, which resulted in another four-week …

Gold prices rose on Friday, extending their weekly gains, amid increased demand from investors. The yellow metal futures for April delivery gained $9.20, or 0.5%, to close today’s session at $1,741.70 per ounce. For the week, gold futures gained about 1.3%.

European stocks closed lower on Friday, amid concerns about the slow rollout of vaccines, a rise in the number of new Coronavirus infections and re-imposing lockdown measures in France, in addition to a the rise in U.S. Treasury bond yields. The STOXX Europe 600 index dropped by 0.76% and closed …

The United States coal exports declined by 26% to 69 million metric short tons (MMst) in 2020, from 93 MMst in 2019, according to recent data by the U.S. Energy Information Administration (EIA). Data also showed that four out of the top 10 U.S. coal exporters increased their imports in …

Fitch Ratings expects the United States Federal Reserve will begin next year reducing the quantitative easing (QE) measurements aimed at combating the negative economic impacts of the Coronavirus pandemic. The move could come in the form of decreasing asset purchases in 2022, which the ratings agency expects it will be …

The number of active rigs drilling for crude oil and natural gas in the United States increased by nine rigs to 411 this week, weekly data by Baker Hughes showed on Friday. The increase in the rig count was entirely attributed to the increase in oil rigs to 318, while …