Market Update

The US Dollar rose on Monday amid an increased demand for safe havens, which is due to a surge in new COVID-19 cases. In addition, stalling talks for a new stimulus package in the United States further advanced demand, which helped the USD maintains its rising trend that started at …

Oil prices declined on Monday, finishing the first session of the week at its lowest level in about three weeks. A surge in new COVID-19 cases is raising concerns about demand and economic recovery, especially in the United States and Europe. Brent crude futures for December delivery lost $1.31, or …

Gold prices rose on Monday for the fifth time in six sessions, supported by increased demand for safe havens, amid a surge in new COVID-19 cases. The rise in the yellow metal prices came despite the US Dollar (USD) rising across the board. Gold futures for December delivery closed marginally …

The United States is appealing against a recent ruling by the World Trade Organization (WTO) that considered American tariffs imposed on China in 2018 as a breach to global trade rules, Reuters reported on Monday. Last month, a WTO panel ruled that there was no justification for the imposed tariffs.

European stock markets showed a negative performance in the first session of the week, due to the surge in the number of COVID-19 cases amid a second wave of the pandemic in many countries across the continent. The STOXX Europe 600 index fell by 1.81% and finished Monday at 355.94 …

The government of Germany is set to revise upwards its expectations for the gross domestic product (GDP) in 2020, Reuters reported on Monday. Berlin foresees GDP to contract by 5.5% this year, down from a previous estimate of a 5.8% contraction. The revision is expected to be presented to the …

New homes sales in the United States decreased last month, against market expectations, data by the US Department of Commerce showed on Monday. New single-family home sales declined by 3.5% to a seasonally adjusted annual rate of 959,000 units in September. Meanwhile, the August reading was revised down to 994,000 …

The Secretary-General of OPEC said today, Monday, that OPEC+ producers do not expect oil prices to collapse again, as happened in Q2, adding that members of the alliance “will not change course” in terms of rebalancing the market. “The economic and oil demand recovery remain anemic,” the Organization of Petroleum …

Oil fell more than 2% on Monday, extending last week’s losses in light of the growing cases of Covid-19 disease in the United States and Europe, which raises concerns about the demand for crude, especially in light of the chances of increases in supply. Brent crude was down $ 1.25, …

Japanese stocks fell on Monday, as investors exercised caution ahead of a series of reports of company results, while sentiment was negatively affected by the growing cases of Coronavirus around the world. The benchmark Nikkei index fell 0.09% to 23,494.34 points, while the broader TOPIX index fell 0.39% to 1618.98 …