Market Update

The success of the American rescue plan, proposed by the United States President Joe Biden, will be evaluated based on how quickly it helps the economy return to unemployment levels as sees prior to the Coronavirus pandemic, the U.S. Treasury Secretary Janet Yellen said on Monday. Once again, Yellen said …

President of the European Central Bank (ECB) Christine Lagarde told the European Parliament on Monday that the bank is closely watching bond yields to assess financing conditions in the Eurozone and economic recovery from the Coronavirus crisis, Bloomberg reported. “Within the broad-based set of indicators that we monitor to assess …

Bitcoin has been tumbling down since Elon Musk tweeted that its value “seems high” over the weekend. After topping $58,000 and a valuation of over $1 trillion, the most popular cryptocurrencies has collapsed over $10,000.

The Federal Reserve Bank of Chicago’s National Activity Index (CFNAI) rose to 0.66 in January from 0.41 in December and came in better than the market expectation of 0.4%. “The CFNAI Diffusion Index, which is also a three-month moving average, moved down to +0.34 in January from +0.49 in December,” …

Oil prices increased due to the slow resumption of US crude production after it was reduced by freezing weather conditions while demand recovered from its low levels during the Corona pandemic. Brent crude rose 55 cents, or 0.9%, to $63.46 a barrel, after increasing nearly 1% last week. U.S. crude …

US media reported that US authorities said that about 8.8 million Texas residents were still facing water supply problems after an unprecedented frost wave damaged power plants last week. The authorities still advise millions of Texas residents to boil water before using it, although all power stations returned to work …

The German economy is heading for improvement, and that sentiment has improved in the industrial sector, in particular, said Klaus Vollerbe, an economist at IFO, on Monday. He added that companies had revised production plans upwards and had increased export expectations for the industry. “The German economy is looking towards …

Today’s survey showed that German business confidence increased much more than expected in February, reaching its highest level since October as the industrial sector supports Europe’s largest economy despite the restrictions of lockdown measures. IFO said its business climate index rose to 92.4 from a revised level of 90.3 in …

Bitcoin fell more than 6% today, Monday, after rising to a record high of $58,354 the previous day, as selling in global stocks hampered risk appetite. And the world’s most popular cryptocurrency rose over the weekend to record levels, nearly doubling in value since the start of the year. Its …

The dollar trimmed its losses in early European trade after reaching its lowest level in several years against the pound sterling and the currencies of Australia and New Zealand, as bond yields rose in light of progress in Corona’s immunization programs and expectations of an acceleration of economic growth and …