Market Update

The Turkish lira declined 1% against the dollar, along with other currencies in emerging markets, as investors switched to the low-risk US dollar in light of a large number of countries tightening measures to contain Covid-19. The lira was at $7.7050, down from Friday’s closing level of 7.6280. The lira …

Oil prices fell about 3% today, Monday, due to fears of a new rapidly spreading strain of the Coronavirus, which has caused the closure of most parts of Britain, which increased fears of a slowdown in the recovery of fuel demand amid tightening restrictions in Europe. Brent crude fell $ …

Gold rose today, Monday, to its highest in six weeks, boosted by news that leaders of the US Congress have reached an agreement on an aid package linked to the Coronavirus, while the appetite for higher-risk assets is undermined by lockdown measures in Britain, which increased support for the metal. …

2020  is drawing to a close as Brexit talks continue with the race to reach a deal between the European Union and the United Kingdom before December 31. On the other side of the ocean, US lawmakers are trying to fill loopholes in the massive stimulus bill that would provide …

Oil prices closed higher on Friday, reaching their best finishing level since February. Brent crude futures for February delivery rose by 76 cents, or 1.5%, to settle at $52.26 per barrel. This is the highest closing level for the global benchmark most active futures since February 26. For the week, …

Gold prices closed lower on Friday, limiting their weekly rise, which was mostly supported by the decline of the US Dollar (USD). The yellow metal futures for February delivery lost $1.50, or 0.1%, to finish at $1,888.90 per ounce. For the week, gold futures gained about 2.5%. Today’s decline of …

The number of active oil rigs in the United States increased by five to a total of 263 this week, according to the weekly report by Baker Hughes. This is the fourth consecutive weekly rise in US oil rigs. The total active rig count in the United, including rigs drilling …

The US Dollar (USD) is rising against international peers on Friday after it was reported that a new stimulus package could not be in the making as previously expected. The Dollar Index (DXY) is up by 0.27% at 90.06. The index has been moving in the positive territory in a …

European stocks closed Friday lower on the negative tone recently expressed by the United Kingdom (UK) and the European Union (EU) regarding trade talks for the post-Brexit stage. The STOXX Europe 600 index finished lower by 0.3%, with the retail sector leading the losses. The UK’s FTSE100 also settled lower …

Wall Street opened Friday lower, after a record-breaking session yesterday, amid decreased hopes for a new stimulus package. The Dow Jones Industrial Average is currently down by 74 points, or 0.24%, at 30,229.29 points. The S&P 500 declined by 11.22, or 0.30%, to reach 3,711.26 points. Meanwhile, the Nasdaq  Composite …