Treasury yields in the United States declined on Tuesday, amid growing anticipation for a new stimulus package with talks still ongoing. This also comes amid the rise in the number of Coronavirus cases. Return on the 10-year Treasury bond decreased by 1.5 basis points to 0.913%, after falling earlier below …
Read More »Oil Ends on Mixed Note Amid Recovery Concerns
Oil prices showed a mixed performance on Tuesday, amid increasing concerns about the rising number of Coronavirus cases. Brent crude futures for February delivery rose by 0.10% and finished at $48.84 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures for January delivery declined by 0.4% and settled at …
Read More »Gold Settles at Highest Level in Three Weeks
Gold prices rose on Tuesday for the second consecutive session, amid the decline in the US treasury yields and despite a rise by the US Dollar (USD) and renewed hopes for a new government stimulus package in the United States. Gold futures for February delivery added $8.90, or 0.5%, and …
Read More »US Unit Labor Costs Decline in Q3
Unit labor costs in the United States declined during the third quarter (Q3) of the year, data by the US Department of Labor showed on Tuesday. The price of labor for each unit of output decreased by 6.6%, compared with a previously estimated 8.9%. It is worth noting that during …
Read More »US Nonfarm Productivity Rises in Q3
Nonfarm worker productivity in the United States grew during the third quarter (Q3) of the year, data by the US Department of Labor showed on Tuesday. This comes as the US economy, and especially the services sector, is recovering from the impacts of the Coronavirus crisis. Hourly output per worker …
Read More »Germany Suspends Debt Ceiling Again
The German parliament on Tuesday suspended, once again, the debt limits in the constitution to allow for increased government borrowing of up to EUR 180 billion in 2021, Reuters reported. The increased government debt aims at funding stimulus spending to help Europe’s largest economy face the economic consequences of the …
Read More »USD Fluctuates with Moves in Positive Territory
The US Dollar (USD) is showing some signs of recovery on Tuesday, after declining yesterday near its lowest level since 2018. The American currency is showing some fluctuations against major currencies but mostly moving in the positive direction as shown by the performance of the Dollar index (DXY). The DXY, …
Read More »European Stocks End Mostly Higher Amid Optimism
European stocks closed higher on Tuesday, supported by an improved sentiment regarding Coronavirus vaccines and trade talks between the European Union (EU) and the United Kingdom (UK). The Stoxx Europe 600 index closed higher by 0.2% recovering most of its losses on the first session of the week. The UK’s …
Read More »Consumer Spending And Exports Drive Growth in Eurozone to a Record High
The European Union’s statistics office said that the euro zone economy recorded the highest quarterly growth rate in the summer, recovering from a record contraction due to the Covid-19 pandemic, amid a significant increase in consumer spending and exports. Eurostat said gross domestic product (GDP) in the 19-nation bloc increased …
Read More »British Pound Falling on Brexit Headlines
The British pound recorded the biggest move in quiet trading in the currencies of the Group of Ten major countries today, Tuesday, and declined in general with the growing state of caution among investors awaiting the outcome of trade talks with Britain, which approached their last moments without reaching an …
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