Market Update

Gold touched its highest level in a week on Monday, November 16, in light of the dollar’s decline, while the escalation of Coronavirus cases in the United States fueled concerns about the repercussions of the pandemic on the economic recovery, which supported hopes for more monetary stimulus. The spot price …

Japanese stocks touched their highest level in 29 years Monday, November 16, after the economy grew for the first time in four quarters and in light of progress towards a vaccine for Covid-19. The benchmark Nikkei Index closed 2.05% higher at 25,906.93 points, its highest close since June 1991. The …

Chinese industrial production rose faster than expected in October, while retail sales continued to recover, albeit at a slower pace than expected, as the world’s second-largest economy emerged from the recession that accompanied the spread of the Coronavirus. Data from the National Bureau of Statistics showed that Chinese industrial production …

The second week of November saw two major highlights. First, it was over the past weekend that it became clear that the Democratic nominee and Former Vice President Joe Bides will be the next President of the United States after winning the elections. A projected win in the state of …

Oil prices declined on Friday after data showed a surprise buildup in American crude inventories yesterday, and amid the rise in new Coronavirus cases in many countries, especially in the United States. However, oil futures recorded high weekly gains, supported by positive news about a Coronavirus vaccine at the beginning …

Gold prices rose on Friday, recovering some of its losses earlier in the week that saw the announcement of the success of a new Coronavirus vaccine being developed by Pfizer and BioNTech. Gold futures for December delivery rose by $12.90, or 0.7%, and settled at $1,886.20 per ounce. For the …

The Brazil Real (BRL) is set to recover some ground against the US Dollar (USD) as soon as foreign investors are confident in the country’s economy, according to the Brazilian Minister of Economy Paulo Guedes, Reuters reported. “When will the exchange rate go down? When there is success to attract …

The President of the Federal Reserve Bank of New York, John Williams, said on Friday in an interview with the Financial Times that the United States economy is recovering but remains in a deep hole. “The very large rise in COVID cases recently clearly puts a question mark on the …

It is not the job of the Bank of England (BoE) to protect the business models of banks, said the Deputy Governor of the BoE, Jon Cunliffe, commenting on the future impact of digital currencies, Reuters reported. “Banks will have to adjust. Our job is to ensure that if bank …

European stocks ended Friday nearly unchanged, but was able to record a weekly rise, supported by positive news earlier in the week about the success of a Coronavirus vaccine. The pan-European STOXX 600 index added 0.20 points but gained about 3.5% for the week.