Market Update

Gold prices declined on Thursday as the US Dollar (USD) showed signs of recovery from its decline yesterday. In addition, remarks suggesting a near agreement for a new stimulus package in the United States supported risk appetite among investors and reduced demand for safe havens. Gold futures for December delivery …

The British Pound (GBP) retreated on Thursday, after showing a very strong performance yesterday that was supported by renewed hopes for a trade agreement between the United Kingdom (UK) and the European Union (EU) in the post-Brexit stage. The GBP is down against the US Dollar (USD) by 0.52%, with …

The Euro (EUR) is declining against the US Dollar (USD) on Thursday, after finishing Wednesday at its highest level in about a month at 1.1861. The EUR/USD is down by 0.36% at 1.1818, after levelling down earlier as low as 1.1812. The pair’s decline comes amid a recovery by the …

The United States Speaker of the House, Nancy Pelosi, said that talks for a new stimulus deal are showing progress. A deal could be reached pretty soon, Pelosi said in an interview with MSNBC on Thursday. “We’re on a good path.”“We’re coming closer.” Pelosi said on Wednesday that there remains …

The US Dollar (USD) is showing recovery signs on Thursday, after reaching its lowest level in seven weeks yesterday. The Dollar Index (DXY), which measures the performance of the USD performance against a basket of six international currencies, is up by 0.33% for the day at 92.92. The index has …

European stocks finished Thursday lower, amid increased uncertainty among investors regarding the second wave of the COVID-19 pandemic and an anticipated stimulus package in the United States. The pan-continental STOXX Europe 600 index closed lower by 0.14%. In France, the CAC40 index slipped 0.05%, while the German DAX settled lower …

Home sales in the United States rose to their highest level in 14 years during the month of September, data by the National Association of Realtors showed on Thursday. Existing home sales surged by 9.4% to a seasonally adjusted annual rate of 6.54 million units last month, its highest level …

Natural gas inventories in the United States increased by 49 billion cubic feet last week, according to data by the US Energy Information Administration (EIA) The rise in gas stockpiles came below market expectations of a 51 billion cubic feet increase for the week ended October 16. Natural gas inventories …

The S&P 500 and Nasdaq Composite Indexes rose slightly at the open Thursday as investors pinned to hope for new financial stimulus, while shares of the Dow Jones Industrial Average fell after new data indicated a slowing economic recovery. S&P 500 rose 2.94 points, equivalent to 0.09%, to reach 3,438.50 …

On Thursday, the Turkish central bank kept interest rates unchanged at 10.25%, which was contrary to speculation of a large increase. A poll of 17 economists conducted by Reuters had expected the bank to raise its repurchase rate (repo) for a week 175 basis points, as forecasts ranged from increases …