Market Update

The S&P 500 Index hit a record high moments after the opening Wednesday, amid demand for stocks sensitive to economic developments such as banks and industrial companies sparked hopes for a vaccine-fueled recovery and more US fiscal stimulus. The S&P 500 opened up 3.73 points, equivalent to 0.10%, to reach …

The Bank of Canada (BoC) maintained its target for the overnight rate at the effective lower bound of 0.25%, with the Bank Rate at 0.5% and the deposit rate at 0.25%.

China’s CPI fell in November for the first time in nearly a decade as food prices fell. The Chinese National Statistics Office said the Consumer Price Index, a gauge of inflation that measures the prices of a basket of consumer goods and services, fell 0.5% in November compared to a …

“The European Union wants to take away our control over our fishing waters,” British Prime Minister Boris Johnson said on Wednesday and reiterated that he cannot accept that demand. “The EU is insisting that if they pass a new law in the future then they want the automatic right to …

Russia’s Finance Minister Anton Siluanov said last week’s decision by the OPEC+ group to gradually increase oil production would help Russia implement its budget revenue plan and may also contribute to the growth of its sovereign wealth fund. The Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC Russia agreed …

Markets are looking forward to Wednesday’s decision interest rates by bank of Canada, and it is widely expected that the Bank of Canada will leave the interest rate unchanged (0.25%). The bank may make some statements regarding the Canadian economy after Canadian data came in above expectations in terms of …

The dollar fell in Asia on Wednesday (December 9th), as signs of progress in the fight against the Covid-19 pandemic undermined demand for safe assets, while the pound was facing anxious anticipation ahead of a meeting of leaders seeking to salvage a trade deal of Brexit The US currency fell …

German exports increased less than expected in October, but foreign trade continued to provide a boost to Europe’s largest economy at the start of the fourth quarter of the year as it struggled to avoid a slide into deflation. The Federal Statistics Office said on Wednesday that exports, adjusted for …

Oil prices rose on Wednesday, December 9th, to reduce crude losses incurred earlier, amid positive news about Covid-19 vaccines that boosted investors’ hopes for a recovery in fuel demand, which overshadowed concern about an unexpected jump in US oil stocks last week. Brent crude rose 11 cents, equivalent to 0.2%, …

Gold prices retreated from a two-week peak on Wednesday, December 9, as encouraging developments for the Coronavirus vaccine prompted investors to buy high-risk stocks as global stocks rose to record levels. Gold fell in the spot market 0.7% to $ 1858.80 an ounce, after hitting the highest level since November …