Market Update

President of the Federal Reserve Bank of Minneapolis, Neel Kashkari, said on Friday that the road to economic recovery is long and challenging. “We are a long way from recovering the job market that we had back in January and February.” If Congress fails to pass more relief, more small …

Oil prices declined on Friday, as markets are still reacting to the news of the President of the United States, Donald Trump, and his wife, testing positive for COVID-19, as well as an increase in US drilling rigs. Crude prices remain impacted by fears of a gloomy demand outlook. Brent …

Gold prices declined on Friday as markets are still digesting news of the President of the United States, Donald Trump, and his wife, testing positive for COVID-19. The news did not result in a shock or panic buying of the precious metal, which ends the week in gains. Gold futures …

Active rigs drilling for natural gas and crude oil in the United States increased, for the second consecutive week, by 5 rigs to a total of 266, according to the data of the weekly report released by Baker Hughes on Friday. Meanwhile, oil rigs added six more to reach 189 …

The President of the Federal Reserve Bank of Dallas, Robert Kaplan, said on Friday that he would like to be careful about increasing the United States Federal Reserve bond purchases. Kaplan also said on Friday in an interview with the Wall Street Journal that he supports maintaining interest rates near …

The University of Michigan Consumer Sentiment Index rose to 80.4 in September, up from 74.1 in August, data showed on Friday. The index remains well below its levels prior to the COVID-19 pandemic, which reached a peak of 101 in February, and below its level for the same period last …

Factory orders in the United States increased for the fourth consecutive month during August, according to data by Department of Commerce on Friday. Orders levelled up by 0.7% last month, after rising by 6.5% in July. Durable goods orders went up by 0.5%, while nondurable goods orders advanced by 0.8%.

Major indexes tumbled on Wall Street at the open after President Donald Trump had tested positive Coronavirus weeks before the presidential election, while sentiment is also affected by the fiscal stimulus and a distant slowdown in the domestic economic recovery. The Dow Jones Industrial Average fell 280.51 points, or 1.01%, …

Nonfarm Payrolls (NFP) in the US rose by 661,000 in September, the data published by the US Bureau of Labor Statistics showed on Friday. This reading followed August’s increase of 1,489,000 (revised from 1,3171,000) and fell short of the market expectation of 850,000.

ECB council member Fabio Panetta said the bank should prepare for a digital euro issue that complements securities “if and when” necessary. Major central banks around the world are studying digital versions of their currencies in response to demand for electronic payments and to counter competition from private currencies such …