Market Update

Oil prices rose on Wednesday, closing at their highest level since early September, supported by an improved outlook due to recent developments in Coronavirus vaccine research. Brent crude futures for January delivery rose by 59 cents, or 1.4%, to finish at $44.34 per barrel. Meanwhile, the West Texas Intermediate (WTI) …

Gold prices declined for the second consecutive session on Wednesday, amid improved investors’ sentiment and risk appetite and a decreased demand for safe havens. Gold futures for December delivery decreased by $11.20, or 0.6%, to settle at $1,873.90 per ounce.

Crude oil inventories in the United States increased last week by 800,000 barrels, according to data by the US Energy Information Administration (EIA) on Wednesday. By the end of 13 November, American crude stockpiles stood at 489.5 million barrels. Meanwhile, gasoline inventories increased by 2.6 million barrels last week, while …

Canada’s consumer price index (CPI) rose in October by 0.7% on an annual basis, on the back of higher food prices, according to data by Statistics Canada. This comes following an increase 0.5% in September. The rise in inflation rate last month exceeds market expectations of a 0.4% rise in …

Housing Starts in the US rose by 4.9% on a monthly basis in October following September’s increase of 6.3% (revised from 1.9%), the data published jointly by the US Census Bureau and the US Department of Housing and Urban Development showed on Wednesday. Further details of the publication revealed that …

The Turkish lira fell on Wednesday, November 18, a day before the central bank’s important interest rate decision, as it remained at levels reached last week due to expectations of a sharp rate hike. By 07:29 GMT, the lira was at 7.73 per dollar, compared with 7.7150 at Tuesday’s close. …

Pfizer Inc said on Wednesday that the final efficacy analysis of phase 3 trial of the coronavirus vaccine it develops with BioNTech has shown to be 95% effective, as reported by Reuters. “Efficacy of COVID-19 vaccine was consistent across age, race and ethnicity demographics.”“Planning to file for US emergency use …

Bitcoin broke the $ 18,000 barrier today, Wednesday, reaching its highest level since December 2017, continuing its great rise in 2020, supported by demand for its nature, which is a hedge against inflation and expectations for a general trend to accept. The main and largest cryptocurrency jumped to $ 18,483, …

Gold rose on Wednesday, November 18th, moving within a narrow range, as investors assess the possibilities associated with the Covid-19 vaccine in the face of concerns about increasing cases of infection and the possibility of more economic support from the US Federal Reserve. Spot gold rose 0.1% to $ 1880.81 …

Japanese stocks closed lower on Wednesday, November 18th, as the Nikkei index retreated from its highest close in more than 29 years, which it reached in the previous session, as the high incidence of Covid-19 in Tokyo caused the rally in the recent rally to subside, supporting optimism about The …