Market Update

The German government revised its expectations for economic growth in 2021 downwards to 3%, down from a previously estimated growth rate of 4.4%. Another lockdown as part of the preventive measures against the spread of the Coronavirus pandemic has left its toll on the biggest economy in Europe, as shown …

The U.S. Dollar (USD) rose on Wednesday, following the release of positive economic data that showed a rise in durable goods orders in December. The rise of the USD also comes amid anticipation for the outcomes of the Federal Reserve policy meeting, which is expected maintain interest rates unchanged near …

Durable Goods Orders in the United States rose by 0.2%, or $0.4 billion, to $254.3 billion in December, the data published by the US Census Bureau showed on Wednesday. This reading followed November’s increase of 1.2% and missed the market expectation of 0.9%.

GBP/USD continued its corrective slide from several-month highs, and reached its daily low, with a target of 1.3700. After optimism about the launch of Covid 19 vaccines and hopes for a global economic recovery faded, along with doubts about the timing of the US stimulus plan, all this affected the …

Germany, Europe’s largest economy probably contracted by 3% in the January to March period, the latest forecasts published by Germany’s economic institute DIW showed on Wednesday.

AstraZeneca has pulled out from the meeting with the European Union officials on coronavirus vaccine supplies that was scheduled to take place on Wednesday, Reuters reported, citing an EU official familiar with the matter.

The dollar rose against a basket of currencies on Wednesday, January 27th, as markets awaited comments by US Federal Reserve Chairman Jerome Powell, who is likely to renew his commitment to a super-easing policy. The dollar compensated for declines against riskier currencies, even as hopes for a pandemic recovery received …

European stocks fell on Wednesday under the weight of fears of a slow economic recovery while most investors were reluctant to take positions ahead of the US Federal Reserve’s decision on monetary policy. The European Stoxx600 index fell 0.4% in early trade after losses in Asian markets and Wall Street. …

Oil prices rose on Wednesday, January 27, after data for the sector showed that US crude inventories fell unexpectedly last week, and China, the second-largest consumer of oil in the world, recorded the lowest daily level of increase in cases of Covid-19 in more than two weeks. Brent crude futures …

Gold trading recorded a limited range Wednesday, January 27, as traders in the market awaited the US Federal Reserve’s decision on monetary policy and developments related to a stimulus package to mitigate the repercussions of the Coronavirus in the largest economy in the world. This fell in spot gold transactions …