Market Update

Oil received some support from renewed hopes about a US fiscal stimulus, but concerns about an increase in Corona Cases weighing on demand. West Texas Intermediate (WTI) crude oil futures slipped 1 cents to $ 40.21 a barrel after jumping 2.4% on Wednesday. Brent crude futures also rose to 42.32. …

Gold rose Thursday, October 1st after being boosted by the dollar’s decline and signs of progress in talks on new US stimulus measures. Gold Spot gained 0.4% to $1892.23/ounce, to start the month on the upside, after posting the largest monthly decline since September 2016. US gold futures rose 0.2% …

The Reserve Bank of Australia (RBA) Commodity Price Index increased by 1.5% on a monthly basis, after rising by a revised reading of 0.2% in August, according to preliminary estimates released by the Australian central bank on Thursday. The non-rural, rural, and base metals sub-indices all increased in the month. …

Retail sales in Switzerland increased on an annual basis by 1.6% during August, data showed on Thursday. Seasonally adjusted sales declined by 2.1% compared with the previous month, according to the provisional data by the Swiss Federal Statistical Office (FSO). Real turnover adjusted for sales days and holidays rose in …

The consumer price index (CPI) in Switzerland remained stable during September 2020 compared with its level in August. The index recorded a reading of 101.2 points. Meanwhile, the inflation rate declined by 0.8% on an annual basis.

The New York Stock Exchange (NYSE) closed higher on Wednesday, as Wall Street investors seem to ignore the first Presidential debate, which took place last night. In addition, talks between the Treasury Secretary Steven Mnuchin and the Speaker of the House, Nancy Pelosi, renewed hopes for a new stimulus package …

Oil prices ended Wednesday higher after data showed an unexpected decline in crude inventories in the United States. Brent crude futures for December delivery rose by 74 cents, or 1.8%, to finish at $42.30 per barrel. The global benchmark crude oil posted a 9.6% monthly decline, which is the first …

Gold prices declined on Wednesday, expanding its monthly losses during September. The yellow metal futures for December delivery decreased by $7.70, or 0.4%, and finished at $1,895.50 per ounce. Gold’s monthly losses during the ending month amounted to 4.2%. However, gold registered a 5.2% increase during the third quarter (Q3) …

Germany’s crude oil imports declined by 1.9% on an annual basis during the first seven months of 2020, data showed on Wednesday, as reported by Reuters. German oil imports amounted to 48.8 million tons between the beginning of January and the end of July 2020, down from 49.7 million tons …

The British Pound (GBP) rose on Wednesday against the US Dollar (USD) and mostly across the board, as investors adjust their position at the end of September and the third quarter (Q3) of the year. The GBP/USD pair is up by 0.31%, trading at 1.2903, after rising earlier today by …