Market Update

European stocks rose on Tuesday, January 26th, after a two-session decline, as Swiss Wealth Management UBS announced a rise in quarterly net profit, but the gains were curbed by concerns about extending the lockdown and US stimulus measures. The European Stoxx600 index rose 0.2%, after closing at its lowest level …

Gold rose on Tuesday, January 26th, as the yellow metal’s appeal was strengthened as a hedge against inflation thanks to expectations of eventually passing a large US stimulus package, despite the strong dollar curbing the gains. This rose in spot transactions 0.1% to 1856.33 dollars an ounce and US gold …

The Governor of the Bank of England (BoE), Andrew Bailey, said on Monday that cryptocurrencies are providing a modern way of payment, but not as currencies, Reuters reported. Bailey’s remarks came during an online event organized by the World Economic Forum’s Davos summit on Monday. “Have we landed on what …

Bitcoin rose on Monday, reducing its recent losses that came amid a strong correction wave and selling pressures that brought the price of the world’s largest digital currency below $30,000. Over the past 24 hours, Bitcoin rose by about 3% to near $32,600, cutting its losses over the past seven …

Oil prices rose on Monday amid concerns about global supplies, with Iraq planning to cut output and Libya seeing production disruptions. In addition, crude prices continue to be supported by the prospect of increased government stimulus in the United States by the new administration. Brent crude futures for March delivery …

The President of the European Central Bank (ECB), Christine Lagarde, expressed a positive sentiment towards this year being one of economic recovery from the impact of the Coronavirus pandemic. Lagarde’s remarks came during a panel discussion during the Davos Agenda summit on Monday, CNBC reported. “Our hope is that still …

Gold prices declined on Monday, as the U.S. Dollar (USD) showed some rebound signs and rose across the board. This is the third consecutive decline for the yellow metal futures. Gold futures for February delivery lost $1, or 0.1%, to close at the level of $1,855.20 per ounce. Last week, …

The U.S. Dollar (USD) has switched its losses earlier in the first session of the week to show a mostly positive performance on Monday. In the absence of major economic data in the United States, the market continues to be dominated by concerns about the Coronavirus pandemic, which is curbing …

European stocks closed lower on Monday, opening the week with a negative performance as it erased all of its gains earlier in today’s session, with travel and leisure stocks leading the decline amid renewed concerns about the Coronavirus pandemic. The pan-European STOXX 600 index finished lower by 0.9%, after rising …

The manufacturing activity in the State of Texas continued to expand during January for the eighth consecutive month, data released by the Federal Reserve Bank of Dallas on Monday showed. The Dallas Fed Manufacturing Business Index recorded 4.6 in January, falling sharply from its level in December at 26.8, which …