Market Update

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 …

Oil prices surged on Monday, as winter storms led to steep declines in temperatures across North America thus blasting demand for energy and heat. The global benchmark Brent crude futures rose by 1.4% to reach $63.30 per barrel, reaching their highest level since January 2020. Meanwhile, the U.S. West Texas …

The British Pound (GBP) extended its gains against the Japanese Yen (JPY) on Monday, amid a strong performance by the Sterling and the JPY seeing decreased demand as a safe haven amid increased risk appetite. The GBP/JPY has scored gains during each of the past four weeks, and today the …

The British Pound (GBP) rose on Monday against the U.S. Dollar (USD) to its highest level in about three years. Gains by the Sterling Pound came amid the decline of the USD, as well as an improved sentiment in the United Kingdom (UK) that the rollout of Coronavirus vaccines will …

European stocks closed higher on Monday, beginning the week with a positive performance on the back of an improved risk appetite and investors’ sentiment, with hopes for better vaccine rollouts and recovery from the coronavirus pandemic. The STOXX Europe 600 index finished the session higher by 1.3%, supported by the …

Markets in the United States are seeing a long weekend this week, with Monday being an official holiday in commemoration of Presidents Day. Presidents Day, celebrated every year in the third Monday of February, marks the birthday of George Washington, one of the founding fathers of the U.S. and its …

The U.S. Dollar (USD) declined on Monday, opening the week with a negative performance amid an improvement in risk appetite that drove investors towards other currencies. The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is down by 0.14% at 90.36. Earlier …

The data published by the Eurostat showed on Monday that Industrial Production in the euro area contracted by 1.6% on a monthly basis in December. This reading followed November’s expansion of 2.6% and came in worse than the market expectation for a decrease of 0.6%. On a yearly basis, Industrial …

British Prime Minister Boris Johnson said on Monday that they have not yet taken a decision on the exact date of opening of schools and added that they will do everything they can to reopen schools on March 8, as reported by Reuters. “This has been an unbelievable effort to …

Despite the huge rush to invest in Bitcoin in recent times, which pushed it to record records, which reached near the levels of 50 thousand dollars, it was not able to maintain this level for a long time. Overnight, Bitcoin lost 5.6%, down to $45,000, with the start of Asian …