Market Update

European stocks retreated from nearly a year highs on Wednesday as riskier assets shied away due to concerns about a potential inflation spurt and rising bond yields, while Gucci owner Kering led losses after announcing a drop in sales. The pan-European STOXX 600 index closed 0.7% lower, while the London …

The dollar traded at slightly less than its recent highs, Thursday, February 18th, after it made its first consecutive gains over two weeks, as optimistic data reinforced expectations that the US economy is recovering from the Coronavirus pandemic at a pace that it captured than its peers. Bitcoin traded near …

Barclays Bank announced a full-year profit of 1.53 billion pounds, equivalent to $2.11 billion, for 2020, down 38% from 2019 but exceeding analysts’ expectations. The UK bank announced a fourth-quarter net profit attributable to shareholders of £220m, even though the UK is dealing with new nationwide lockdown measures amid the …

Japanese stocks fell slightly Thursday, February 18th as investors turned to caution about the continuation of the recent rally that lifted the market above 30,000 points, but strong gains in Fast retailer operating the Uniqlo apparel chain limited the decline. The benchmark Nikkei index fell 0.19% to 30,236.09 points, losing …

The President of the Federal Reserve Bank of Richmond, Thomas Barkin, on Wednesday expressed his optimism regarding the recovery of the American economy this year amid the rollout of Coronavirus vaccines. During the first third of 2021, the U.S. economy will continue to be challenged by the pandemic, which requires …

Deputy Governor of the Bank of England (BoE) Dave Ramsden said on Wednesday that the bond-buying program is the most suitable stimulus option to help the British economy cope with the impact of the Coronavirus pandemic. “My overall take on [Quantitative Easing] (QE) is still that it is a tried …

The Bitcoin rally continued on Wednesday, hitting a new record level and exceeding the $52,000 level for the very first time. The world’s largest digital currency in terms of market capitalization is currently up by 7.18% at $52,137.4, extending its gains over the past seven days to 16.11%. Year-to-date, the …

Oil prices rose on Wednesday, as a strong winter storm not only disrupted crude production and refining in Texas but also led to an increased demand for energy and heat sources in parts of North America. In addition, crude prices remain supported by the commitment of the OPEC+ alliance to …

The President of the Federal Reserve Bank of Boston, Eric Rosengren, said on Wednesday that it is unlikely for the inflation rate in the United States to reach the Fed’s 2% target next year. Rosengren also played down the risk of a surge in inflation as the economy recovers from …

Gold prices declined on Wednesday for the fourth consecutive session, reaching its lowest levels since June of last year. The yellow metal losses are attributed to the rise of Treasury yields and a positive performance by the U.S. Dollar (USD). Gold futures for April delivery dropped by $26.20, or 1.5%, to …