Market Update

Gold prices rose Thursday, January 7th, as a democratic sweep of the re-election in Georgia boosted expectations of additional US stimulus, although the rise in Treasury yields curbed the yellow metal to below a two-month high it reached in the previous session. Gold advanced in spot transactions to more than …

Japanese shares closed higher on Thursday, while the Nikkei index hit a 30-year high with the support of financial stocks, as US Treasury yields rose thanks to hopes of greater stimulus following a Democratic sweep in a two-seat Senate election in Georgia. The Nikkei index closed more than 1% higher …

Twitter and Facebook have temporarily suspended the accounts of US President Donald Trump, as tech giants scrambled to counter his unfounded claims about the presidential election, amid riots in Washington D.C. Twitter withheld Trump’s three tweets and requested that they be deleted “as a result of the continuing and unprecedented …

Congress has resumed the electoral counting process to confirm President-elect Joe Biden’s victory, hours after crowds of President Donald Trump’s supporters stormed the Capitol. US House Speaker Nancy Pelosi said that House members will quickly resume counting the votes to confirm the outcome of the presidential elections after securing the …

The German Factory Orders increased in November, suggesting that the manufacturing recovery in Europe’s gaining some momentum. Contracts for goods ‘Made in Germany’ came at +2.3% m-o-m vs -1.2% expected and +3.3% previous, the latest data published by the Federal Statistics Office showed on Thursday. On an annualized basis, Germany’s Industrial …

Treasury yields in the United States soared on Wednesday, on the back of an expected win by the Democrats in the Senate elections in Georgia, which will bring them the majority of the highest chamber in Congress, alongside the House of Representatives. With the Democratic Party controlling Congress and the …

Oil prices rose on Wednesday, after data showed a big drop in U.S. crude inventories last week, and on the back of the recent OPEC+ agreement to reduce production levels. Brent crude futures for March delivery rose by 70 cents, or 1.3%, to finish at $54.30 per barrel. Meanwhile, the …

Gold prices dropped on Wednesday, due to the surge in Treasury bond yields in the United States to their highest level since March of last year. The yellow metal futures for February delivery declined by $45.80, or 2.3%, to close at $1,908.60 per ounce. Meanwhile, silver futures for March delivery …

New factory orders in the United States rose strongly during November, data by the U.S. Department of Commerce showed on Wednesday. Factory orders increased by 1% in November, after rising by 1.3% in October, exceeding market expectations. On an annual basis, orders declined by 7.3%. In addition, orders for non-defense …

Crude oil inventories in the United States declined last week by more than expected, data showed on Wednesday. The U.S. Energy Information Administration (EIA) weekly reported showed that crude oil stockpiles decreased by 8 million barrels in the week ending on January 1 to a total of 485.5 million barrels. …