Market Update

European stocks reversed earlier losses and closed higher on Friday, to score their second consecutive week of gains. The STOXX Europe 600 index finished higher for the day by 0.64%, registering weekly gains of 1% and rising to its best level in three weeks. The French CAC40 index gained 0.60%, …

Consumer sentiment in the United States declined in early February, data showed on Friday. The consumer sentiment index fell to a reading of 76.2, down from 79 in January, according to the University of Michigan. Surveyed consumers are less optimistic about economic recovery, despite the expectations for a new huge …

The U.S. Dollar (USD) is showing a positive performance on Friday, but remains on track to score weekly losses. This week’s jobs data in the United States showed that the economic recovery from the Coronavirus pandemic is slower than previously expected. The Dollar Index (DXY), which measures the Dollar’s performance …

Wholesale Sales in Canada fell by 1.3% in December to $66.5 billion, the monthly report published by Statistics Canada showed on Friday. This reading followed November’s increase of 0.7% and came in better than the market expectation for a decrease of 1.6%.

Russia’s central bank announced on Friday left its policy rate unchanged at 4.25% as expected. The USD/RUB pair extended its daily rally after this announcement and was last seen gaining 1.03% on a daily basis at 74.3750.

German Health Minister Jens Spahn said that a ban on entry to travellers from the Czech Republic and the Austrian region of Tyrol, from February 14, is necessary to prevent the spread of new types of Coronavirus. “They are unavoidable for a certain period of time to prevent the spread …

Bitcoin hovered near record highs on Friday, and is heading for gains of more than 20% in a historic week during which it saw the support of large companies like Elon Musk’s Tesla, while the weak US labor market continued to put pressure on the dollar. The most popular cryptocurrency …

European stocks are lower, but on track for gains for the second week in a row, as investors await more indications of progress in implementing US stimulus measures, while rising ASML and ING shares curbed the decline. The pan-European STOXX 600 index fell 0.1%, after gaining nearly 4% since the …

Turkey’s central bank data showed on Friday that the country’s current account balance recorded a deficit of $36.72 billion last year, less than a Reuters poll forecast of a $39 billion deficit and compared to a $6.76 billion surplus the previous year. The data reveals that the deficit in December …

Gold retreated as the dollar and Treasury yields rose, but prices are on the path to achieving the best weekly performance in three weeks, as hopes for more US stimulus support the yellow metal. And gold fell in immediate transactions 0.2% to 1822.69 dollars an ounce. Prices have risen 0.6% …