Crude oil inventories in the United States declined last week by more than expected, data showed on Wednesday. The U.S. Energy Information Administration (EIA) weekly reported showed that crude oil stockpiles decreased by 8 million barrels in the week ending on January 1 to a total of 485.5 million barrels. …
Read More »European Stocks Finish Higher on Improved Sentiment
European stocks closed Wednesday higher amid an improved investors’ sentiment supported by the rollout of new Coronavirus vaccines. The STOXX Europe 600 gained 1.6% on the back of strong gains by the banking sector. In the United Kingdom (UK), the FTSE100 index surged by 3.47%. Meanwhile, the French CAC40 and …
Read More »Germany: Annual HICP Unchanged at -0.7% in December
Inflation in Germany, as measured by the Consumer Price Index (CPI), was 0.5% in December, Destatis reported in its flash estimate on Wednesday. This reading followed a 0.8% decline in November but missed the market expectation of 0.5%. The annual CPI stayed unchanged at -0.3%.
Read More »US Private Sector Employment Declines by 123K in December
Employment in the US’ private sector decreased by 123,000 in December, the monthly data published by the Automatic Data Processing (ADP) Research Institute revealed on Wednesday.
Read More »Gold Reaches a Peak of Two Months, Supporting Expectations of a Democratic Victory in Georgia
Gold prices hit a two-month high on Wednesday, with the dollar retreating due to growing expectations that Democrats will win the run-off in the US Senate elections in Georgia, which is likely to support the adoption of additional fiscal stimulus packages. During the session, gold rose in spot transactions to …
Read More »Dollar Falling as Democrats Advance The Run-Off Election in Georgia
The dollar fell on Wednesday as Democrats advanced in the run-off election that will determine who will control the US Senate and could pave the way for lavish spending under the administration of President-elect Joe Biden. The euro crossed a major resistance level, reaching a 32-month high, while the US …
Read More »Eurozone Contraction in December is Deeper Than Expected
A survey showed that economic activity in the Eurozone recorded a more severe contraction than previously thought at the end of 2020 and may deteriorate further with the renewal of the general isolation restrictions imposed to contain the Coronavirus, which has affected the services sector that dominates the bloc. With …
Read More »UK Final Services PMI Misses Estimates in December
The UK services sector activity contracted more-than-expected in December, the final report from IHS Markit confirmed this Monday. The seasonally adjusted IHS Markit/CIPS UK Services Purchasing Managers’ Index (PMI) was revised lower to 49.4 in December versus 49.9 expected and a 49.9 – December’s flash reading.
Read More »Bitcoin Soars Above $35,000, Hitting New High
Bitcoin traded as high as $35,000 for the first time during the Asian session on Wednesday, rising to its highest level at $ 35,879, extending its rise by more than 800% since mid-March. The world’s most popular cryptocurrency crossed $ 20,000 for the first time ever on December 16.
Read More »European Stocks Rise as US Stimulus Hopes Revive
European stocks rose on Wednesday, and sectors severely affected by the economy, such as energy and banking, gained as investors awaited the Democrats’ victory in the important run-off election in Georgia over two US Senate seats, which could lead to greater fiscal stimulus. A slight rise in the Stoxx 600 …
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