Market Update

Gold fell Thursday, September 24th, to its lowest level in more than two months, on dollar’s rally, while investors were concerned about the uncertainty surrounding additional stimulus measures to support the slowing economic recovery in the United States. This fell gold in immediate transactions 0.7% to 1851.51 dollars an ounce …

The People’s Bank of China (PBOC) has set the yuan reference rate at 6.8028 versus Wednesday’s fix at 6.7986.

Wall Street ended Wednesday’s trading in decline, after recent remarks by US Federal Reserve officials signaled maintaining interest rates near 0% for the coming three years, as well as concerns among the rising number of COVID-19 cases. The Dow Jones Industrial Average dropped by 1.92%, or 525.05 points, to close …

Treasury yields in the United States marginally increased on Wednesday following recent remarks by Federal Reserve officials. Yield on the 10-year Treasury bond levelled up by 1.3 basis points to 0.676%, while return on the 30-year bonds increased by the same amount to 1.426%. Meanwhile, return on the two-year notes …

Oil prices rose on Wednesday, after data showed a decline in US crude inventories. Brent crude futures for November delivery increased by 5 cents, or 0.1%, and settled at $41.77 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude for November delivery levelled up by 13 cents, or 0.3%, and …

Gold prices declined on Wednesday, losing the $1,900 per ounce level, as the US Dollar (USD) maintained its rising trend. Gold futures for December delivery decreased by $39.20, or 2.1%, to close at $1,868.40 per ounce, its lowest closing level since July 22. The Dollar index (DXY), which measures the …

The Vice Chairman of the United States Federal Reserve, Richard Clarida, said on Wednesday that the Fed will not raise rates until the 2% inflation target is achieved. “We’re not going to even begin to think about lifting off, we expect, until we actually get observed inflation, and we measure …

President of the Federal Reserve Bank of Cleveland, Loretta Mester said on Wednesday that the US economy is recovering better than expected. However, Mester warned that recovery is not sustainable yet and not including all sectors. “We are still in a deep hole, regardless of the comeback we have seen.”“We …

European stocks closed higher on Wednesday, despite uncertainty about the rising number of COVID-19 cases. The rise of European stock markets came after the release of preliminary data that showed an expansion in the composite PMI index, even though it came below expectations. The Stoxx Europe 600 index added 0.7% …

President of the Federal Reserve Bank of Boston, Eric Rosengren, said on Wednesday that economic recovery could be slower in case the number of novel coronavirus (COVID-19) cases increased. “Recent economic data have been encouraging, but I believe the most difficult part of the recovery is still ahead of us.” …