Gold rose on Tuesday (December 15th), as the increase in COVID-19 cases and restrictions imposed on investors’ appetite for usually riskier assets and boosted the bet on more stimulus ahead of the US Federal Reserve meeting. Gold rose in the spot market 0.7% to $ 1839.20 an ounce by 07:05 …
Read More »A New Rise in The Unemployment Rate in Britain And Layoffs at a Record Level
The unemployment rate in Britain increased again in three months until October, while the number of workers who were laid off reached a record high, as companies prepared for the end of the government’s job support program as part of measures to mitigate the repercussions of the Corona pandemic, which …
Read More »EIA: Shale Oil Production will Drop 136,000 Bpd in January
The US Energy Information Administration said in a monthly forecast that the United States’ oil production from shale formations is expected to decrease by about 136 thousand barrels per day in January to 7.44 million barrels per day, the lowest since June. Production is expected to decline from nearly all …
Read More »Joe Biden Secures 270 Votes at Electoral College
Democrat Joe Biden won the electoral college, which formally determines the next president of the United States, to end President Donald Trump’s campaign to reverse his November 3 election loss. And the state of California, which has 55 electoral votes in the electoral college, gave Biden the vote so that …
Read More »NYSE Close Monday Mostly Lower
The New York Stock Exchange (NYSE) closed the first session of the week mostly lower, amid concerns about the rising number of Coronavirus cases in the United States. The Dow Jones Industrial Average, which reached an all-time high earlier today, finished Monday lower by 0.62% at 29,861.55 The S&P 500 …
Read More »Oil Ends at Highest Level in Nine Months
Oil prices surged on Monday, opening the week with a strong performance as they rose to their highest closing level since March. Positive news about Coronavirus vaccines helped crude prices stage a strong come back. This comes despite some concerns about the demand outlook, after the Organization of the Petroleum …
Read More »Gold Ends Monday Lower on Vaccine Optimism
Gold prices closed Monday on a lower note, amid optimism about new Coronavirus vaccines and concerns that a new stimulus package in the United States may not be in the making. Gold futures for February delivery declined by $11.50, or 0.6%, to close at $1,832.10 per ounce. This is the …
Read More »European Stocks Finish Higher on Brexit Deal Hopes
European stocks closed higher on Monday, opening the week with a positive performance, amid hopes for Britain and the European Union (EU) soon reaching a trade agreement for the post-Brexit stage, before the end of the year and the transition period. The pan-European STOXX Europe 600 index added 0.4%. The …
Read More »Panetta: ECB Could Expand Bond Purchases
The European Central Bank (ECB) could be ready to expand its emergency bond-buying program if necessary, according to ECB Board member Fabio Panetta. “The PEPP envelope can be further expanded and extended if warranted by the inflation outlook.”“And we stand ready to adjust all our instruments if downside risks to …
Read More »USD Declines Across the Board
The US Dollar (USD) is opening the week with a negative performance, by declining across the board against major currencies. The Dollar Index (DXY), which measures the greenback’s performance against a basket of six international currencies, is down by 0.30% at 90.70. The index has been moving today in a …
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