Market Update

Gold prices increased on Friday, extending its weekly rise amid anticipation for a new stimulus package in the United States. Gold futures for February delivery increased by $6.20, or 0.3%, to close at $1,843.60 per ounce. For the week, gold futures registered gains of 0.2%.

The US Dollar (USD) is rising on Friday, supported by positive economic data and an improvement in inflation. The Dollar index (DXY), which measures the USD performance against a basket of six major international currencies, is up by 0.18% at 90.99. The index has been moving today in a range …

European stocks closed Friday lower, amid uncertainty surrounding Brexit talks and a new government stimulus package in the US. The STOXX Europe 600 index finished lower by 0.5%. The UK’s FTSE100 declined by 0.66%, while the German DAX plummeted by 1.24%. Meanwhile, the French index CAC40 closed lower by 0.61%.

The University of Michigan’s preliminary US consumer sentiment index increased by 4.5 points to 81.4 during December, from 76.9 in November, data showed on Friday. This is the second-highest level for the index since March, according to Bloomberg. The current conditions index rose to 91.8, its highest reading since March. …

Industrial capacity utilization rate in Canada rose during the third quarter (Q3) of 2020, but remained at a record low level, data showed on Friday. The capacity utilization rate reached 76.5% in Q3, rising by 5.8% on a quarterly basis, compared with its level in Q2 at 70.7%, according to …

Producer prices in the United States rose slightly last month, in line with expectations that inflation could start to rise in the near term, data showed on Friday. The US producer price index (PPI) increased by 0.1% in November, after rising by 0.3% in October, according to data by the …

US Secretary of Health and Human Services Alex Azar said today, Friday, that the United States will approve the use of the Pfizer vaccine to protect against Covid-19 within days, and that the first group will be vaccinated, perhaps Monday or Tuesday. The US Food and Drugs Administration has accelerated …

British Prime Minister, Boris Johnson crossed the wires in the last hour and said that we are always hopeful on Brexit. But from where we stand now, it is very, very likely that we will have a no-deal Brexit, Johnson added further.

Turkey’s central bank said the country’s current account deficit narrowed in October to $273 million. The number is more than Reuters forecasts a deficit of $0.062 billion. In September, the current account deficit was $ 2.559 billion. In 2019, Turkey’s current account surplus was $ 1.674 billion.

The dollar headed for a loss for the fourth week in a row as it weakened, recording its lowest levels in several years against other major currencies. The pound ended a series of gains that lasted for five weeks after the leaders of Britain and the European Union remained at …