Market Update

President of Petroleum Association of Japan, Tsutomu Sugimori expected Friday that OPEC and its allies, the group known as OPEC+, will likely delay a plan to increase production in January and stick to existing cuts of 7.7 million barrels per day. He also said that demand in Japan for gasoline …

Japanese shares fell on Friday for the third straight session, as a rise in new cases with the Coronavirus inside the country to record levels fueled fears that officials will introduce new restrictions on business activities. The Nikkei index fell 0.42% to close at 25,527.37 points. The broader TOPIX index …

Gold prices continued to decline on Thursday for the third consecutive session, as the US Dollar (USD) rose against major currencies. Positive news about a Coronavirus vaccine and fears about renewed lockdown measures against a new wave of the pandemic seem to be balancing out with the rise of the …

The President of the European Central Bank (ECB), Christine Lagarde, said on Thursday that she expects inflation in the Eurozone will likely remain in the negative territory into early 2021. This comes amid renewed lockdown and preventive measures across the European continent to curb the spread of the new wave …

European stocks closed Thursday lower, amid fears about the impact of the renewed lockdown and preventive measures to curb the spread of a new wave of the Coronavirus pandemic. The pan-European Stoxx 600 index closed lower by 0.73%. The UK’s FTSE100 declined by 0.8%, while the German DAX finished lower …

Manufacturing activity in the United States slowed during the month of November compared to its expansion pace in October, according to data by the Federal Reserve Bank of Kansas City. The Bank’s monthly report showed that its Manufacturing Survey’s composite index registered 11 in November, down from a reading of …

Employment in Canada declined by 79,500 during the month of October, data showed on Thursday. Job losses in the trade, transportation, and utilities sectors led the decline, according to ADP. This is the eighth consecutive month of job losses. The September reading was revised up to 564,400 lost jobs, up …

Natural gas inventories in the United States increased by 31 billion cubic feet for the week ended November 13, data by the US Energy Information Administration (EIA) showed on Thursday. The weekly rise exceeded market expectations, reaching a total of 958 trillion cubic feet, rising by 293 billion cubic feet …

Homebuilding activity in the United States rose at a pace faster than expected during the month of October, data by the US Department of Commerce showed on Thursday. This comes as the American housing market remains supported by record-low mortgage rates. Housing starts grew by 4.9% to a seasonally adjusted …

Home sales in the United States increased for the fifth consecutive month during October, data showed on Thursday, Reuters reported. Existing home sales increased by 4.3% to a seasonally adjusted annual rate of 6.85 million units in October, according to the National Association of Realtors. The September reading was revised …