Market Update

The U.S. Dollar (USD) declined on Friday, nearing to end the week on a negative note as the United States Congress nears the passing of the $1.9 trillion relief bill, proposed by President Joe Biden. The Dollar Index (DXY), which measures the performance of the greenback against a basket of …

Economic activity in Canada continued to contract during January for the second consecutive month, data showed on Friday. Although the seasonally adjusted Ivey Purchasing Managers Index (PMI) increased to a reading of 48.4 last month, from 46.7 in December, it remained below the 50 mark that indicates expansion. The Ivey …

The Unemployment Rate in Canada rose to 9.4% in January from 8.8% (revised from 8.6%) in December with the Net Change in Employment declining more than 212,000 (vs -47.5K expected), the data published by Statistics Canada revealed on Friday. This reading came in worse than the market expectation of 8.9%. 

Nonfarm Payrolls (NFP) in the US increased by 49,000 in January, the data published by the US Bureau of Labor Statistics showed on Friday. This reading came in largely in line with the market expectation of 50,000. On a negative note, December’s reading got revised down to -227,000 from -140,000.

The Turkish lira reached its strongest level since August, Friday, February 5, and strengthened its position as the best performing currency in the world since the beginning of the year, after the central bank governor told Reuters that it was unlikely to cut interest rates for a “long period”. In …

The dollar is heading towards recording its best weekly performance in three months Friday, February 5th, driven by growing confidence that the US economic recovery will surpass its global peers. The dollar index touched its highest level in two months in Asian trading in light of indications of the strength …

Robinhood said it has removed trading restrictions on GameStop and AMC stocks, which have been the basis of the battle between the small traders who organized on Reddit and short sellers, according to an update on the trading platform’s support page. Robinhood’s move comes one day after it increased restrictions …

The US jobs report for January is due out at 13:30 GMT. here are the forecasts of economists and researchers of 10 major banks regarding the upcoming employment data. Deutsche Bank “Our US economists are now forecasting a +200K increase in nonfarm payrolls after total jobless claims fell by 1.73 …

European stocks rallied Friday (February 5th), tracking optimistic sentiment on Wall Street thanks to hopes for a faster global economic recovery, while stocks in Frankfurt lagged in performance after data showed a decline in industrial orders. The European Stoxx600 index gained 0.2% and is on track to post its longest …

Data revealed that German factory orders decreased more than expected on a monthly basis in December, as the impact of restrictions imposed to combat the Coronavirus reduced demand from the rest of the euro area. The data published by the Federal Statistics Office showed that orders for the supply of …