Market Update

The headline General Business Conditions Index of the NY Fed’s Empire State Manufacturing Survey rose to 12.1 in February from 3.5 in January, the NY Fed’s report revealed on Friday. This reading came in better than analysts’ estimate of 6.

Bitcoin jumped above $50,000 on Tuesday to a new record high, continuing a rally fueled by indications that the world’s largest cryptocurrency is gaining traction among major investors. Bitcoin reached a new peak of $ 50 thousand, and in its most recent transactions it was 3.9% at $ 49,891. The …

The German ZEW headline numbers for February showed that the Economic Sentiment Index improved further to 71.2 versus 59.5 expected and 61.8 last. While the sub-index Current Conditions figure arrived at -67.2 in Feb versus -67.0 expected and -66.4 booked previously. Meanwhile, the Eurozone ZEW Economic Sentiment for Feb jumped …

The Eurozone economy contracted 0.6% on quarter in the three months to December of 2020, beating -0.7% expected, the second estimate showed on Tuesday. On an annualized basis, the bloc’s GDP dropped by -5.0% in Q4 vs. -5.1% seen in the first readout while beating -5.1% expectations.

The dollar fell to its lowest level in three weeks today, Tuesday, while the pound sterling reached its highest level in nearly three years and currencies linked to commodities rose, as progress in the anti-Corona virus vaccination campaigns boosted investors’ hopes for a recovery. The atmosphere of optimism and the …

Oil prices hovered today near a 13-month high on the back of sudden cold weather that caused the closure of wells in Texas, the largest oil producing state in the United States, while a wage deal in Norway avoided a supply disruption in Europe, curbing gains. Prices also increased with …

Platinum retreated from its highest level in nearly six and a half years, as prices reached a technical resistance level, but expectations that the global economic recovery would fuel demand kept the metal used to stimulate the auto sector supported above $ 1,300 an ounce. Platinum, which is used in …

European stocks are hovering near their highest levels in a year today, Tuesday, as investors are hopeful about a massive US stimulus package that will lead the growth of the global economy, while Glencore topped mining shares higher after a positive update. The pan-European STOXX 600 index rose 0.2%, after …

Japanese stocks rose to a 30-year high today, Tuesday, as progress in the distribution of anti-virus vaccines boosted expectations that the global economy is on the verge of a strong recovery. The benchmark Nikkei index rose 1.28% to 30,467.75, closing at its highest level since August 1990. The broader Topix …

The price of Bitcoin declined on Monday, after nearing $50,000 on Sunday, rising by 5% and reaching a new record high. The world’s largest cryptocurrency is down by 1.57% over the past 24 hours, reducing its gains over the past seven days to a little over 9%. Bitcoin recently received …