Market Update

European stocks were largely unchanged on Wednesday as the utility sector was hit by a profit warning from Danish wind farm developer Orsted, while French grocery store Carrefour jumped after merger talks. Carrefour gained 10.6% after Canadian store operator Element Couche-Tard said it had contacted Europe’s largest retailer to discuss …

Auto sales in China fell for the third year in a row in 2020 but increased year on year for the ninth consecutive month in December as Beijing continues to lead the global auto sector’s recovery from the COVID-19 pandemic. Chinese auto sales fell 1.9% to 25.3 million cars last …

The French central bank said today, Wednesday, that the country’s economy has likely contracted 4% in the last quarter of last year compared to the previous three months, although activity increased in December after the lifting of general isolation measures imposed to combat the spread of the Coronavirus. In light …

Gold rose today, Wednesday, as the dollar and US Treasury yields declined, while the prospect of a massive financial stimulus in the United States boosted the appetite for the yellow metal as a hedge against inflation. Spot gold rose 0.1% to $1,857 an ounce, while US gold futures gained 0.8% …

Crude oil inventories in the United States declined by 5.8 million barrels last week, according to the weekly report from the American Petroleum Institute (API). Meanwhile, gasoline stockpiles rose by 1.9 million barrels, while distillate inventories added 4.4 million barrels.

Treasury yields in the United States stabilized on Tuesday, amid increased investors demand after yields rose to their highest levels since March of last year. Return on the 10-year Treasury note remained nearly unchanged at 1.136%. Earlier, it rose to 1.185%. Yield on the 30-year bond rose by 0.3 basis …

Oil prices rose on Tuesday, supported by the decline of the U.S. Dollar (USD) and the recent OPEC+ agreement to curb output during February. Crude prices were able to log high gains and reach their best settlement level in about 11 months. Brent crude futures for March delivery added 92 …

Gold prices declined on Tuesday, giving up gains seen earlier in the second session of the week. The downward trend of the yellow metal continues even as the U.S. Dollar (USD) is returning to the negative territory. Gold futures for February delivery lost $6.60, or 0.4%, to close at $1,844.20 …

The British Pound (GBP) is showing a strong performance on Tuesday, supported by the decline of the U.S. Dollar (USD) and the possibility of negative rates being ruled out by the governor of the Bank of England, Andrew Bailey. The GBP is up by a little over 1% against the …

The Governor of the Bank of England (BoE), Andrew Bailey, said on Tuesday that the British economy is challenged by the darkest hour amid the rising number of Coronavirus cases, Reuters reported. The BoE Governor has ruled out turning to negative interest rates to boost the economy, despite what he …