Market Update

The data from the UK showed on Tuesday that the Confederation of British Industry’s (CBI) Retail Sales Balance in February rose to -45 from -50 in January. This reading came in worse than the market expectation of -38.

U.K. unemployment climbed to its highest rate in almost five years in Q4 as the economic toll from the coronavirus pandemic continued to mount. The number of people looking for work rose 121,000 from Q3, taking the jobless rate to 5.1%, the most since early 2016, the Office for National …

According to Eurostat’s final reading of the Eurozone CPI report for January, the consumer prices came in at 0.9% YoY, meeting the expectation. While the core figures rose by 1.4% vs +1.4% last and +1.4% expected. On a monthly basis, the bloc’s CPI figure for December accelerated by 0.2% versus …

Cryptocurrencies witnessed sharp declines after record high as Bitcoin fell below $ 47,000 More to come…

Oil prices jumped by more than a dollar on Tuesday (February 23rd), as they received support from optimism about the distribution of anti-Covid-19 vaccines and a decrease in production as US supplies slowly return after freezing weather in Texas stopped crude production last week. Sources said that shale oil producers …

Gold rose to the peak of the week of Tuesday, February 23rd, supported by the weak dollar and declining US Treasury yields, while the appeal of the yellow metal was boosted by fears of further rising inflation. Spot gold rose 0.2% to $1812.06 an ounce, after hitting its highest level …

Prime Minister of the United Kingdom (UK), Boris Johnson, revealed on Monday a plan to gradually ease the lockdown measures imposed as a precaution against the spread of the Coronavirus pandemic. In the first step, schools in England are set to reopen on March 8. In the same time, minimum …

Gertjan Vlieghe, a member of the Bank of England’s (BoE) Monetary Policy Committee, said on Monday that he expects interest rates in the United Kingdom to remain low and not return to their levels prior to the global financial crisis in the foreseeable future. Vlieghe, who is 49 years old, …

The New York Stock Exchange (NYSE) indices closed mostly lower on Monday, beginning the week with a mixed performance amid a rise by the U.S. Treasury yields which negatively impacted the sentiment of Wall Street investors. The Dow Jones Industrial Average finished higher by 27.37 points, or 0.1%, at 31,521.69 …

The U.S. Dollar (USD) declined on Monday despite the rise in Treasury bond yields, amid expectations for economic recovery from the Coronavirus pandemic. Expectations for a surge in inflation due to the easing policies of the Federal Reserve and the expected increased stimulus spending by the Biden administration are contributing …