Market Update

European stocks closed marginally higher on Wednesday, supported by the rise of Wall Street following the first Presidential Debate on Tuesday night. The pan-European STOXX 600 index added 0.16 points or 0.044% to close nearly unchanged at 361.65 points. The UK’s FTSE100 closed lower by 0.53%, while the French CAC40 …

The United States economy has been recovering at a rapid pace from the impact of the COVID-19 crisis, however, unemployment remains quite high, which means more monetary and fiscal support are needed, Federal Reserve Governor Michelle Bowman said on Wednesday, Reuters reported. “Even with this support, however, I anticipate that …

Crude oil inventories in the United States declined last week, for the third consecutive week, by 2 million barrels, according to data by the US Energy Information Administration (EIA) on Wednesday. This comes against expectations of an increase by 1.6-1.9 million barrels. US oil stockpiles reached a total of 492.4 …

The economic activity in Canada, as measured by the real Gross Domestic Product (GDP), grew by 3% in July, the data published by Statistics Canada showed on Wednesday. This reading matched the market expectation.

The United States’ Real Gross Domestic Product (GDP) contracted at an annual rate of 31.4% in the second quarter, the US Bureau of Economic Analysis’ final (third) estimate showed on Wednesday. This reading came in slightly better than the previous estimate and the market expectation of -31.7%.

Employment in the US’ private sector rose by 749,000 in September, the monthly data published by the Automatic Data Processing (ADP) Research Institue revealed on Wednesday.  Developing story…

The Bank of England’s chief economist, Andy Haldane crossed the wires in the last hour and ruled out the possibility of negative rates in the short-term. Haldane said that conditions to negative interest have not been met yet. “None of the conditions for negative rates has been satisfied.Work on negative …

Oil prices decreased for the second day in a row Wednesday, September 30, continuing to incur large losses in light of the increase in Coronavirus infections before the start of the winter season in the north, which raised fears of further restrictions on activities, which may, in turn, reduce the …

Data showed a decline in the number of unemployed in Germany for the third month in a row in September, in a positive sign of household spending that is expected to lead the recovery from the Corona crisis in the largest economy in Europe. The Labor Office said that the …

The yellow metal continues on its way to post its biggest monthly decline in nearly 4 years, driven by the strong US dollar and the return of caution to the markets after the first presidential debate in the United States. Spot gold fell 0.6% to 1,885.81, down 4.3% since the …