Market Update

Germany recorded an annual inflation rate of 1% in January 2021, in line with preliminary estimates. For January, the annual rate of inflation accelerated from -0.3% to 1.0%, which was also in line with prelim figures. In both November and in December consumer prices had fallen by 0.3% year-on-year. consumer …

The US Energy Information Administration, on Tuesday, February 9th, reduced its forecast for global oil demand growth in 2021 by 180,000 barrels per day to 5.38 million barrels per day. In its monthly forecast, the administration raised its estimate of oil demand growth in 2022 by 190,000 barrels per day …

On Tuesday, February 9th, Britian recorded another decrease in the daily number of new cases of COVID-19, despite an increase in the number of deaths. Tests confirmed that 12,364 people were infected with the virus, in the latest daily toll, down from 14,104 cases yesterday, Monday. The number of new …

Oil prices fell on Wednesday, February 10, threatening to end the longest rise in two years as investors ignored sector data showing lower US crude oil inventories, boosting optimism about an expected increase in global demand for fuel. Brent crude fell cents to 61.08 dollars a barrel, after increasing about …

Japanese shares closed higher in choppy trade Wednesday, February 10, after positive earnings from market leaders Toyota and Honda shed light on an improved global economic outlook. Nikkei’s benchmark rose 0.19% to 29,562.93 points, while cyclical and technology-related consumer stocks led the gains. The broader Topix index increased 0.27% to …

Crude oil inventories in the United States declined by 3.5 million barrels last week, according to the weekly report of the American Petroleum Institute (API) released on Tuesday. During the week ending February 5, gasoline stockpiles rose by 4.8 million barrels, while distillate inventories decreased by 487,000 barrels. It is …

The main indices of the New York Stock Exchange (NYSE) closed mostly lower on Tuesday, after a series of gains that saw it hit new all-time record highs. The decline comes on the back of mixed financial results reported by some major listed companies. The Dow Jones Industrial Average declined by …

Oil prices continued to rise on Tuesday, reaching a new year-high level after declining earlier in the session. The rally of crude prices is supported by the commitment of major producers, an alliance known as OPEC+, to output curbs. In addition, hopes for economic recovery and the anticipation for a …

Gold prices rose on Tuesday for the third consecutive session, supported by the decline of the U.S. Dollar (USD) to its lowest level in about a week. The yellow metal gains come amid anticipation for the passing of the new stimulus package in the United States, which is a $1.9 …

European stocks ended Tuesday in small losses that come following recent surges on the back of improved risk sentiment and investors’ appetite. The STOXX Europe 600 index closed lower by 0.1%, with the majority of market sectors closing in red. The German benchmark index DAX finished down by 0.34%, while …