Market Update

The European stock markets showed a strong rebound on Monday, opening the week with high gains after two consecutive losses that were driven by a slump in the tech sector. The pan-continental STOXX Europe 600 index closed higher by 1.6%, while the UK’s FTSE100 surged by 2.39%. In Germany, the …

The Dollar Index (DXY) is maintaining its recent rising trend on Monday, with the US Dollar (USD) showing a strong performance across the board. The DXY, which measures the performance of the USD against a basket of six major international currencies, is up by 0.25% for the day at 92.95, …

The Financial Times reported that the British government plans to pass new legislation that overrides key parts of the Brexit deal to withdraw from the European Union, which threatens to break down negotiations with Brussels. Citing three sources familiar with the plan, the newspaper said that provisions in the internal …

Gold fell on Monday, September 7th with the dollar achieving gains, but economic uncertainty prevented it from falling further as investors awaited developments from central banks. The gold spot fell 0.1% to 1929.87 dollars an ounce by 12:28 GMT. Gold rose in US futures trading 0.1% to 1935.10 dollars an …

Bond yields in the Eurozone rose during trading on Monday, on signs of an improvement in the global economy, as countries deal with increasing borrowing requirements to help finance the response to the Covid-19 crisis. The data showed that China’s exports rose the most in nearly a year and a …

The euro’s exchange rate stabilized against the dollar above $ 1.18 Monday (September 7th) as traders assess the latest US jobs data and prepare for the European Central Bank’s meeting on Thursday to see whether policymakers provide more stimulus. The dollar plunged to its lowest level in more than two …

A survey showed that investor sentiment in the Eurozone rose for the fifth month in a row in September to the highest level since February, giving hope that the recovery from the Coronavirus is still on its way. Sentix Eurozone index improved to -8 from -13.4 in August, and compared …

An IFO Institute survey showed that industrial companies in Germany, which have been hit by the economic downturn caused by the Coronavirus, expect production to increase slightly in the coming months. “The industrial sector, the engine of the German economy, is gradually returning to its course,” said Klaus Vollrape, supervisor …

Oil prices fell more than 1% on Monday (September 7th) after hitting the lowest level since July, after Saudi Arabia announced the largest monthly price cut for supplies to Asia in five months, while optimism about a recovery in demand dwindled amid the pandemic. Brent crude was $ 42.11 a …

China’s imports of crude oil in August rose 13% from their level a year ago, supported by large purchase orders earlier in the year when global oil prices collapsed and at a time when customs clearance of shipments delayed in the past due to congestion at ports. Data issued by …