Market Update

Monday, a document showed that Germany is expected to continue a huge deficit in spending in light of the Covid-19 pandemic, with a debt-funded supplementary budget of about 60 billion euros for the current year and a draft budget for 2022 with new net debt of 81.5 billion euros. The …

President of the Federal Reserve Bank of Richmond, Thomas Barkin, said that the United States economy is close to completing the recovery despite the lingering of some risk factors. “Vaccines are rolling out, and case rates and hospitalizations are falling. Excess savings and fiscal stimulus should help fund pent-up demand …

Oil prices registered marginal gains on Monday, opening the week with a positive performance following last week’s sharp losses, which were the worst in about five months. Expectations for economic recovery provided support to crude prices, but concerns about demand recovery and reintroducing lockdown measures in Europe had a negative …

Gold prices declined on Monday, due to lower investors’ demand on the yellow metal. Despite the relative decline in the U.S. Treasury bond yields, which remain near their highest level in a year, a positive performance by stock markets reduced demand for safe havens. Gold futures for April delivery closed …

Cryptocurrencies are speculative assets and an unstable store of value, said the Chairman of the United States Federal Reserve, Jerome Powell, on Monday, noting that the Fed is not in a hurry to introduce its own digital currency, CNBC reported. “They’re highly volatile and therefore not really useful stores of …

European stocks rose on Monday, supported by the continuous upward trend by the auto sector. After declining earlier in the session, the pan-European STOXX 600 finished higher by 0.19%, recovering from its losses earlier in the session. Meanwhile, the German index DAX gained 0.25%, while the UK’s FTSE100 rose by …

The U.S. Dollar (USD) is showing a negative performance against its major rivals on Monday, but its biggest decline is against the Swiss Franc (CHF), which is the best performer of the day among the G10 currencies. The USD/CHF pair nearing its lowest level of last week. The pair, which …

The Euro (EUR) is rising against the U.S. Dollar (USD) on Monday, starting the week with a positive performance amid the decline of the USD, which in the absence of major economic data remains impacted by the movement in Treasury bond yields. The benchmark U.S. 10-year Treasury bond yield is …

Existing home sales in the United States declined in February by 6.6% to a seasonally adjusted annual rate of 6.22 million units, data by the National Association of Realtors (NAR) showed on Monday. Home resales increased by 9.1% compared with its level in the same period last year. The decline …

Germany’s economy is likely to contract sharply this quarter, as the service sector is hit by pandemic restrictions as the slowdown extends to a booming construction sector, the Bundesbank said on Monday. In its most recent monthly report, the central bank appears to have abandoned its expectations for a spring …