Market Update

The dollar floated to the bottom of its range recently today, Tuesday, following weaker than expected US data and the Fed officials’ insistence again that policy will not change to subside investor fears that inflation will lead the central bank to raise interest rates. The sterling rose to return to …

Moderna said its vaccine for Covid-19 was 100% effective in a study of adolescents aged 12-17 years as the second vaccine after Pfizer to prove highly effective in younger age groups. The company is seeking FDA approval by next June.

The German DAX index records its highest levels in history, supported by the IFO index, which recorded its highest reading in two years, and supported by news that the largest residential real estate group in Europe, Vonovia and , has agreed to acquire its rival Deutsche Wohnen for about 18 …

Today’s survey showed that business confidence in Germany improved more than expected in May, with growing business optimism in light of the decline in coronavirus cases and cautious steps towards resuming activities of Europe’s largest economy. The IFO Institute said its business climate index rose to 99.2 from a revised …

European stocks hit unprecedented levels on Tuesday, as investors were optimistic on the back of a $1 billion takeover that brought together two of Germany’s biggest real estate developers and comments that calmed inflation concerns. The pan-European STOXX 600 index rose 0.3% to 446.44 points, its highest level ever. The …

Data on Tuesday showed that the German economy contracted by more than expected 1.8% on a quarterly basis in the first three months of the year, as restrictions linked to the Coronavirus squandered private consumption in Europe’s largest economy. The Federal Statistics Office said gross domestic product shrank 3.1% year-on-year. …

Japanese stocks closed higher on Tuesday as heavy domestic tech stocks were supported by a strong Nasdaq close overnight, but fears of a slow economic recovery due to a weak start to the vaccination campaign dampened gains. The Nikkei rose 0.67% to close at 28,553.98, while the Topix index rose …

Cryptocurrencies managed to rise on Monday, against a number of factors that led to a series of the recent decline, amid a crackdown by the Chinese government and increased selling pressures. Over the past 24 hours, Bitcoin rose by about 10.4%, trading at $38,444.72, reducing its losses over the past …

The New York Stock Exchange (NYSE) finished higher on Monday, opening the week with solid gains on the back of a strong rebound by technology stocks, amid hopes in Wall Street for the economic recovery and a decline in Treasury bond yields. The Dow Jones Industrial Average rose by about …

Oil prices rose on Monday, as recent fears of a sudden rise in the global output eased, with the U.S. benchmark futures finished at their highest level in a week. Recent remarks by the United States government suggested that there are concerns about Iran’s commitment to renewing the nuclear deal. …