Market Update

The US Dollar (USD) showed a positive performance against major currencies on Monday, opening the week with support from investors’ demand spurred by concerns about a new variant of the Coronavirus. The Dollar Index (DXY), which measures the greenback performance against a basket of six international currencies, is up by …

Oil prices declined on Monday, on the back of renewed concerns about a new variant of the novel Coronavirus that caused a global pandemic. New lockdown measures could sharply impact the demand for oil, which is driving investors’ worries across the markets. Brent crude futures for February delivery closed lower by …

Gold prices decline on Monday, as the US Dollar (USD) rose across the board on concerns about a new variant of the coronavirus. Gold futures for February delivery decreased by $6.10, or 0.3%, to finish at $1,882.80 per ounce. The yellow metal failed to gain enough support from the recently …

Announcing the discovery of a new variant of the Coronavirus in the United Kingdom (UK) has led to the decline of the British Pound (GBP) on Monday. The GBP is down by 1.12% against the US Dollar (USD), trading at 1.3372. Earlier today, the GBP/USD pair fell as low as …

Canada’s New Housing Price Index showed that new home buyers saw prices rise by 0.6% in November. New single-family house prices increased by 3.7% since the beginning of the pandemic in March, according to Statistics Canada. On the national level, new house prices went up by 4.6% on an annual …

European stocks plunged on Monday, opening the week with a negative performance amid fears about a new variant of the Coronavirus. The pan European STOXX 600 index closed lower by 2.3%. Meanwhile, the UK’s FTSE100 finished lower by 1.73%. In Germany, the DAX index plummeted by 2.82%, while in France …

The Consumer Confidence Indicator for the Eurozone rose by 3.7 points to -13.9 in December from -17.6 in November, the advanced data published by the European Commission showed on Monday. This reading came in better than analysts’ estimate of -16.8.

Russia’s central bank said on Monday that profits in Russia’s banking sector fell to 149 billion rubles ($ 1.98 billion) in November from 170 billion in October. The central bank added that Russian banks achieved profits of 1.4 trillion rubles in the eleven months of 2020. Russia’s credit rating agency …

The Federal Reserve Bank of Chicago’s National Activity Index (CFNAI) declined from 1.01 (revised from 0.83) in October to 0.7 in November. Forty-nine of the 85 individual indicators made positive contributions to the CFNAI in November, while 36 made negative contributions

Russia will halt all flights with Britain from midnight Tuesday, joining the growing list of countries to suspend air travel with the country amid concerns of a more-infectious coronavirus strain found there.