Market Update

Gold prices maintained a rising streak for the second consecutive week after rising on Friday. Gold futures for December delivery gained $12.20, or 0.6%, and finished at $1,962.10 per ounce, adding 0.7% for the week. Meanwhile, silver futures increased by 3 cents, or 0.1%, and closed at $27.129 per ounce, …

European stocks closed lower on Friday, as the Stoxx Europe 600 index declined by 0.52% and finished at 369.31 points, rising by 0.24% for the week. The UK’s FTSE100 decreased by 0.71%, following the Bank of England’s (BoE) decision to maintain its main rate steady at 0.1%. Meanwhile, the German …

Oil and natural gas rigs in the United States increased this week, according to data by Baker Hughes. Active oil and gas rigs increased by one to 255, but remained 71% below the level of rigs for the same time last year at 613 rigs. Oil rigs fell by one …

Current account deficit in the United States increased during the second quarter (Q2) of 2020, data by the US Department of Commerce showed on Friday. The current account deficit surged by 52.9% to $170.5 billion in Q2 of 2020, its highest level in about 12 years, since Q3 of 2008. …

President of the Federal Reserve Bank of Minneapolis, Neel Kashkari, said on Friday the monetary policymakers need to take better measurements to ensure the economy restore its pre-crisis levels. “I would have preferred the Committee make a stronger commitment to not raising rates until we were certain to have achieved …

The President of the Federal Reserve Bank of Atlanta, Raphael Bostic, said on Friday that he will accept inflation going above 2% to 2.3% but remaining stable. “By contrast, if we were at 2.2% and the next quarter at 2.4% and then at 2.6% that trajectory would give me concern.”

The number of Ethereum transactions on blockchain recorded its all-time daily high on Thursday, Coin Telegraph reported. Daily transactions reached 1.406 million yesterday, as shown by data from Etherscan.

The US current account deficit rose to the highest level in nearly 12 months in Q2, as the Covid-19 pandemic put pressure on exports of goods and services. The US Commerce Department said the current account deficit, which measures the flow of goods, services and investments into and out of …

Retail Sales in Canada increased by 0.6% in July to $52.9 billion, the data published by Statistics Canada showed on Friday. This reading followed June’s increase of 0.7% and fell short of the market expectation of 1%. “Core retail sales, which exclude these two subsectors, declined 1.2% on lower sales …

The Russian Central Bank kept the key nterest rate at 4.25%, suspending its monetary easing cycle in light of the growing risks of imposing new sanctions on Moscow, but hinted that cutting interest rates is still possible later this year. The decision to keep interest rates at a record low …