Market Update

German industrial production remained unchanged in December, in light of the comprehensive closures imposed at home and abroad to contain the Covid-19 pandemic, which curbed the export-oriented manufacturing sector in the largest European economy. This follows a 1.5% growth in the previous month, according to figures released by the Federal …

European stocks rose, after achieving their best weekly gains in nearly three months, as Dialog Semiconductor boosted the technology sector, while hopes for a faster economic recovery continued on the back of the global distribution of vaccines. Renesas Electronics and Dialog said they had agreed that the Japanese chipmaker would …

Gold prices rose, as weak US jobs data boosted hopes of more fiscal stimulus and put pressure on the dollar, although the rise in treasury instrument yields limited the metal’s gains. The spot price of gold was 0.1% up to $ 1813.96 an ounce. US gold futures rose 0.1% to …

Oil prices rose to their highest levels in just over a year, with Brent crude futures exceeding $60 a barrel, supported by supply cuts from major producers and hopes for more US economic stimulus measures to support demand. Brent crude for April delivery touched $60.06 a barrel, its peak since …

Oil prices rose on Friday, extending their weekly gains, most of which came on the back of the commitment of the OPEC+ alliance to the agreed-upon production cuts. This week, oil prices kept rising to new highs not seen in a year. Brent crude futures for April delivery rose by …

Silver prices rose on Friday, ending a turbulent week for the metal that began with silver futures rising to their highest level since 2013, before dropping by more than 10% on Tuesday. Today, silver futures for March delivery gained 79 cents, or 3%, to finish at $27.019 per ounce. For …

Gold prices rose on Friday, supported by weak employment data in the United States and the anticipation for the passing of a new $1.9 trillion relief bill. In addition, the decline of the U.S. Dollar (USD) across the board helped provide support for gold. Today’s rise helped the yellow metal …

The number of active rigs drilling for crude oil and natural gas in the United States increased by 8 this week, according to the weekly reported released by Baker Hughes on Friday. The total rig count currently stands at 392, less by 398 rigs compared with the same time of …

European stocks closed mixed on Friday, amid anticipation for a wider rollout of Coronavirus vaccines. The pan-continental STOXX Europe 600 index closed unchanged, but logged weekly gains of 3.45%, supported by the improved risk sentiment that helped Wall Street score new record highs, as well as the positive performance by …

The Canadian Dollar (CAD) is rising against the declining U.S. Dollar (USD) on Friday, despite data showing that the Canadian economy continues to be impacted by the Coronavirus pandemic. Canada’s Ivey Purchasing Managers Index (PMI) rose last month, but remained below the 50-point mark, which signaled contraction for the second …