Market Update

The US Energy Information Administration said in a monthly forecast that the United States’ oil production from shale formations is expected to decrease by about 136 thousand barrels per day in January to 7.44 million barrels per day, the lowest since June. Production is expected to decline from nearly all …

Democrat Joe Biden won the electoral college, which formally determines the next president of the United States, to end President Donald Trump’s campaign to reverse his November 3 election loss. And the state of California, which has 55 electoral votes in the electoral college, gave Biden the vote so that …

The New York Stock Exchange (NYSE) closed the first session of the week mostly lower, amid concerns about the rising number of Coronavirus cases in the United States. The Dow Jones Industrial Average, which reached an all-time high earlier today, finished Monday lower by 0.62% at 29,861.55 The S&P 500 …

Oil prices surged on Monday, opening the week with a strong performance as they rose to their highest closing level since March. Positive news about Coronavirus vaccines helped crude prices stage a strong come back. This comes despite some concerns about the demand outlook, after the Organization of the Petroleum …

Gold prices closed Monday on a lower note, amid optimism about new Coronavirus vaccines and concerns that a new stimulus package in the United States may not be in the making. Gold futures for February delivery declined by $11.50, or 0.6%, to close at $1,832.10 per ounce. This is the …

European stocks closed higher on Monday, opening the week with a positive performance, amid hopes for Britain and the European Union (EU) soon reaching a trade agreement for the post-Brexit stage, before the end of the year and the transition period. The pan-European STOXX Europe 600 index added 0.4%. The …

The European Central Bank (ECB) could be ready to expand its emergency bond-buying program if necessary, according to ECB Board member Fabio Panetta. “The PEPP envelope can be further expanded and extended if warranted by the inflation outlook.”“And we stand ready to adjust all our instruments if downside risks to …

The US Dollar (USD) is opening the week with a negative performance, by declining across the board against major currencies. The Dollar Index (DXY), which measures the greenback’s performance against a basket of six international currencies, is down by 0.30% at 90.70. The index has been moving today in a …

A spokesperson for the German health ministry said on Monday that they will have 3-4 million doses of the coronavirus vaccine developed by Pfizer and BioNTech in January and will bring the total amount to 11 million by March, per Reuters.

Eurozone government bond yields rose, away from one-month lows in trading on Monday, like the recent extension of Brexit talks eased fears of a messy divorce Brexit. Eurozone and UK Treasury yields ranged 1 to 3 basis points, with Germany’s 10-year yield, the benchmark for the bloc, rising 1.5 basis …