Market Update

British Prime Minister, Boris Johnson crossed the wires in the last hour and said that we are always hopeful on Brexit. But from where we stand now, it is very, very likely that we will have a no-deal Brexit, Johnson added further.

Turkey’s central bank said the country’s current account deficit narrowed in October to $273 million. The number is more than Reuters forecasts a deficit of $0.062 billion. In September, the current account deficit was $ 2.559 billion. In 2019, Turkey’s current account surplus was $ 1.674 billion.

The dollar headed for a loss for the fourth week in a row as it weakened, recording its lowest levels in several years against other major currencies. The pound ended a series of gains that lasted for five weeks after the leaders of Britain and the European Union remained at …

European stocks fell today, Friday, and are heading to conclude a busy week in a state of caution due to concerns about the economic impact of the rise of the Covid-19 pandemic, and the fate of a trade agreement linked to Britain’s exit from the European Union and stalled US …

“The COVID-19 lockdown will be extended,” Germany’s Economy Minister Peter Altmaier said in a statement on Friday. This comes after Germany reported 29,875 record daily coronavirus cases, with nearly 600 deaths on Friday.

Bank of England Governor Andrew Bailey said Friday that there is a limit to the Bank of England’s ability to avoid disruption and volatility in financial markets after the Brexit transition period ends on December 31. Bailey added that work on negative interest rates is still ongoing. “I don’t want us …

The Turkish lira was revised on Friday after sources said the United States was preparing to impose sanctions on Turkey for its purchase of the Russian S-400 air defense system, in a move likely to worsen relations between the two NATO members. The lira was at 7.900 against the US …

Oil rose today, Friday, to consolidate strong gains made overnight that saw Brent crude exceed $50 for the first time since March, as the implementation of coronavirus vaccination programs fueled hopes that demand for oil will rebound next year. Brent crude rose 30 cents, or 0.6%, to $50.55 a barrel, …

Japan’s Nikkei index fell on Friday, posting its first weekly loss in six weeks, as risk appetite waned due to the uncertainty surrounding Brexit, US stimulus and concerns about a spike in COVID-19 cases. The Nikkei fell 0.39% to close at 26,652.52 points, losing 0.37%for the week. But the broader …

The US Dollar (USD) declined on Thursday to its lowest level since April 2018, amid anticipation for a new stimulus package and news about the rollout of Coronavirus vaccines in the United States. The decline also comes after the European Central Bank (ECB) decided to maintain interest rates and expanded …