Market Update

Oil prices were almost unchanged on Tuesday ahead of stalled talks between major producers over potential changes to February production that are due to resume later in the day as concerns over fuel demand persist in light of new lockdown measures to combat COVID-19. Brent crude futures for March delivery …

“We cannot ease up on coronavirus-induced restrictions for now,” French Health Minister Olivier Véran said in a statement on Tuesday. “Will authorise vaccination of people aged 75 and above who are living at home by the end of January.”

Japanese stocks fell on Tuesday, as the government appeared to be preparing to declare a state of emergency to deal with the rise in Covid-19 infections, while investor appetite for risk was also negatively affected by the uncertainty over the re-election for the Senate in the US state of Georgia. …

Gold prices fell on Tuesday after reaching an eight-week high, at a time when the US dollar recovered from its lowest level in several years ahead of a re-election for the US Senate in Georgia that will determine the future course of fiscal stimulus in the world’s largest economy. Gold …

British Prime Minister Boris Johnson announced new general isolation in England on Monday, January 4, and instructed citizens to stay home to contain the most contagious strain of the Coronavirus. “It is clear that we need to do more to bring this new variant under control,” Johnson said. “That means …

Crude oil prices finished Monday on a lower note, amid anticipation for the outcomes of the OPEC+ summit, which will resume on Tuesday. Saudi Arabia is calling for maintaining the output curbs, while Russia is asking for raising production in anticipation for demand recovery. Brent crude futures for March delivery …

The crude oil market is seeing rising concerns about the recovery of global demand amid another wave of the Coronavirus pandemic. A summit for the Organization of the Petroleum Exporting Countries (OPEC) and other major producers led by Russia, an alliance known as OPEC+ is discussing output policy for the …

Gold prices rose on Monday, opening the year with a positive performance despite an improved risk sentiment among investors. The yellow metal futures were even able to restore the $1,900 mark with solid gains. Gold futures for February delivery rose by $51.50, or 2.7%, to settle at the level of …

Manufacturing activity in the United States expanded at its highest pace in more than six years during December, as shown by the IHS Markit’s manufacturing purchasing managers index (PMI) on Monday. The manufacturing sector’s PMI rose to 57.1 in December from 56.7 in November. Moreover, the index flash reading for …

The President of the Federal Reserve Bank of Chicago, Charles Evans, on Monday, said that the Fed remains in need of maintaining its accommodative policy for the near future, Reuters reported. “To meet our objectives and manage risks, the Fed’s policy stance will have to be accommodative for quite a …