Market Update

The Turkish lira fell on Tuesday, December 1, by 1% against the dollar, after the government imposed new general isolation measures for the weekend and other measures to combat a record jump in infections and deaths from the Coronavirus. The currency fell to 7.91 by 08:30 GMT. The currency stabilized …

A preliminary estimate from the European Union statistics office Eurostat showed that consumer prices in the euro area fell more than an expected year on year in November, weighed by a sharp drop in energy costs. Eurostat said that inflation in the 19 euro-zone countries registered -0.3% on an annual …

The US dollar, under pressure on Tuesday, December 1, gave up some of the gains it had made by the end of the month, as investors expect a further monetary easing from the US Federal Reserve and rallying recovery elsewhere. The Australian and New Zealand dollars, which are highly risk-sensitive, …

A survey of businesses in China showed activity in the factory sector accelerated at the fastest pace in a decade in November, as the world’s second-largest economy recovers to pre-epidemic levels. The Caixin / Markit Manufacturing PMI rose to 54.9 from 53.6 in October, with the index staying above the …

Gold prices rose on Tuesday, December 1, after heavy selling that pushed it to its lowest level in nearly five months in the previous session, to renewed interest in the yellow metal, which represents a safe haven in light of the high number of cases of Covid-19, which blurred the …

Japan’s Nikkei index closed Tuesday, December 1, near its 29-and-a-half-year high, tracking gains in US equity futures thanks to growing optimism that major pharmaceutical companies will introduce a coronavirus vaccine before the end of the year. The benchmark Nikkei Index rose 1.34% to close at 26,787.54 points, near its highest …

Oil prices closed lower on Monday, awaiting the OPEC+ decision regarding output cuts. A decision is expected on Tuesday, although it was reported that the meeting could be delayed to Thursday. Brent crude futures for February delivery declined by 37 cents, or 0.8%, and settled at $47.88 per barrel. Meanwhile, …

Gold prices fell on Monday, expanding its fourth consecutive monthly decline during November. The ending month saw a decreased demand for safe havens, especially the yellow metal, prompted by positive news about Coronavirus vaccines. Gold futures for February delivery declined by $7.20, or 0.4%, and closed at $1,780.90 per ounce, …

The President of the Federal Reserve Bank of Richmond, Thomas Barkin, spoke to reporters earlier today, before a speech to a virtual event. ‘’It’s hard to find a huge drop in the real-time data.”“I’m thinking about credit-card spending which I get to see every week. It really hasn’t taken a …

European stocks ended their best month on record, which began in 1986, supported by positive news about Coronavirus vaccine candidates. The aviation sector alone made gains of about 45% during the ending month. The STOXX Europe 600 index closed lower on Monday by 0.6%, but rose by more than 14% …