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 …
Read More »Fed’s Barkin Optimistic for Recovery in 2021
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 …
Read More »BoE’s Ramsden: QE Program Could Continue Until November 2021
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 …
Read More »Bitcoin Continues to Rise Above $52,000
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 …
Read More »Oil Maintains Gains As Winter Storm Continues in North America
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 …
Read More »Fed’s Rosengren Doesn’t See 2% Inflation in 2022
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 …
Read More »Gold Extends Losses and Forms Death Cross
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 …
Read More »European Stocks Decline as Treasury Yields Rise
European stocks declined on Wednesday, amid expectations for a rise in inflation and the surging Treasury yields. The pan-European STOXX 600 index finished lower by 0.78%, as most of the market sectors closed in red. The German DAX index dropped by 1.10%, while the French CAC40 closed lower by 0.36%. …
Read More »U.S. Industrial Production Rises in January
Industrial production in the United States expanded last month, as the American economy recovers from the impact of the Coronavirus pandemic. Production at U.S. factories increased by 1% in January, following a 0.9% rise in December, data by the Federal Reserve showed on Wednesday. This marked the ninth consecutive monthly …
Read More »U.S. Business Inventories Rise in December
Business inventories in the United States rose more than expected during December, data showed on Wednesday. U.S. business inventories increased by 0.6% in December, after rising by 0.5% in November, according to data by the U.S. Department of Commerce. On an annual basis, business inventories declined by 2.6% in December …
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