Market Update

Oil prices declined on Thursday due to rising concerns about the resurgence of the Coronavirus pandemic in many countries around the world. The rise in new cases of the novel virus are leading to worries about the recovery of the global market demand. A surprise bigger than expected decline in …

Gold prices closed lower on Thursday, declining for the sixth consecutive session, recording its longest downward trend since early March 2019. The yellow metal futures rose earlier today on the back of the U.S. Dollar (USD) decline, before falling as U.S. Treasury yields rose. The decline also comes amid an …

The U.S. Dollar (USD) rose on Thursday against the Japanese Yen (JPY), despite declining against other major currencies, amid an improved risk appetite and reduced demand for safe havens. The USD/JPY pair is trading higher for the day by 0.12% at 104.240. Earlier today, the pair traded as high as …

European stocks closed Thursday on a higher note, bouncing back from losses registered earlier in today’s session, on the back of positive financial disclosures and an improved risk appetite. The pan-European STOXX 600 index rose by 0.1%, after falling by as much as 2% earlier. The French benchmark index CAC40 …

The U.S. Dollar (USD) returned to losses on Thursday, falling against major currencies, amid an improvement in risk appetite among investors. Markets seem to be absorbing the outcomes of the latest United States Federal Reserve policy statement, which included no changes to its current easing measurements to help the American …

Natural gas inventories in the United States decreased last week by 128 Bcf, according to estimates by the U.S. Energy Information Administration (EIA). Working natural gas in storage registered 2,881 Bcf as of Friday, January 22, 2021. On an annual basis, natural gas stockpiles rose by 78 Bcf, and are …

The sales of new single-family houses in the United States registered a seasonally adjusted annual rate of 842,000 during December 2020, initial data jointly-released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development showed on Thursday. The reading indicates a 1.6% rise compared with the …

Canadian building permits declined in value by 4.1% during December, data by Statistics Canada showed on Thursday. The decline comes below market expectations of a 5% decrease. On an annual basis, building permits decreased to an unadjusted reading of 2.3% last year compared with 2019, but rose by 3.1% compared …

Inflation in Germany, measured by the Consumer Price Index (CPI), came at 0.8% in January, according to the flash estimate of Destatison Thursday. Moreover, the annual CPI rose to 1% from -0.3% in December.

There were 847,000 initial claims for unemployment benefits in the US during the week ending January 23, the data published by the US Department of Labor showed on Thursday. This reading followed the previous print of 914,000 and came in better than the market estimates of 875,000.