Market Update

The Australian Dollar (AUD) is showing a positive performance on Thursday against the U.S. Dollar (USD), supported by the decline of the greenback. Earlier today, the AUD/USD pair rose to its best level in about three weeks. The pair is currently trading higher for the day by 0.43% at 0.7755. …

Former President of the European Central Bank (ECB) Mario Draghi, who was recently named as Prime Minister to form a new technocratic government in Italy has gained the support of a major party, moving a step closer to forming his cabinet. On Thursday, the majority of the members of the …

Bitcoin surged on Thursday to a new all-time high, supported by increased demand from institutional investors. The world’s largest cryptocurrency rose earlier today above the $48,000 level for the very first time, setting a new record near $48,300. Now, the digital currency is trading at $47,933, up by about 6.4% …

European stocks closed Thursday in gains, recovering from yesterday’s losses, as investors are digesting the financial results for a number of listed companies amid the earning reports season. The STOXX Europe 600 index finished higher by 0.5%, with most sectors, led by tech, closing in the positive territory. The German …

Gold prices declined on Thursday, following four consecutive daily rises, as the United States Treasury yields rose following the decline in jobless claims in the U.S. The decline of the yellow metal comes as the U.S. Dollar (USD) has been fluctuating in a tight range today. Gold futures for April delivery dropped …

The Organization of the Petroleum Exporting Countries (OPEC) is expecting the global demand for crude oil to rise by 5.8 million barrels per day (b/d) in 2021, decreasing its previous expectations by about 100,000 b/d. Extended lockdowns and the re-introduction of partial lockdowns in a number of countries has resulted …

Natural gas inventories in the United States decreased by 171 billion cubic feet (Bcf) during the week ended February 5, according to data by the U.S. Energy Information Administration (EIA) on Thursday. The total amount of natural gas stockpiles currently stands at 2.518 trillion cubic feet (Tcf), declining by 9 …

The U.S. Dollar (USD) remained mostly flat on Thursday, following the release of official data that showed a decline in the number of initial claims for unemployment benefits in the United States. The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is …

There were 793,000 initial claims for unemployment benefits in the US during the week ending February 6, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 812,000 and came in worse than the market expectation of 757,000.

OPEC said that global oil demand will rebound in 2021 at a slower pace than previously thought, in the latest step in a series of cuts to expectations amid the fallout from the coronavirus pandemic. The Organization of Petroleum Exporting Countries added in a monthly report that demand will rise …