Market Update

Industrial Production in the United States contracted by 0.6% on a monthly basis in September, the US Federal Reserve reported on Friday. This reading missed the market expectation for an expansion of 0.5% by a wide margin. Capacity utilization for the industrial sector decreased 0.5 percentage point in September to …

Manufacturing Sales in Canada declined by 2% to $52.4 billion in August, the data published by Statistics Canada revealed on Friday. This reading followed July’s impressive increase of 7.2% and came in worse than the market expectation for a fall of 1.4%. “Excluding transportation equipment, manufacturing sales rose 1.1%,” Statistics …

The pair was unable to capitalize on the rally and faced heavy selling near the 1.2960 area in response to UK Prime Minister Boris Johnson’s comments regarding Brexit. Johnson said he would seek a no-deal Brexit unless there is a fundamental change in the EU approach. Johnson’s comments led to …

Data from the Public Health Agency in Switzerland showed today, Friday, that the number of Coronavirus cases increased by 3105, in a new daily record increase. The agency recorded 74,422 confirmed cases in total in Switzerland and the neighboring principality of Liechtenstein. Five people also died from the virus, bringing …

British Prime Minister Boris Johnson said on Friday that it is now the time for the businesses in the UK to get ready for an Australia-type deal with the European Union. “Given the EU have refused to negotiate seriously, I have concluded we should get ready for an Australia-style deal,” …

Oil prices fell, as they were negatively affected by fears that a significant increase in the number of cases of Covid-19 in Europe and the United States was curbing demand in two of the largest fuel-consuming regions in the world, while the strength of the US dollar added more pressure …

The Nikkei index fell in the Tokyo Stock Exchange today, Friday, as new restrictions to combat the Coronavirus in Europe weakened hopes for a rapid global economic recovery, but losses were limited after Fast Retail expected positive annual profits. The Nikkei index fell 0.41% to 23,410.63 points. The broader TOPIX …

Gold fell today, Friday, and appears to be heading towards its first weekly loss in three weeks, while the dollar is holding on to its rally while providing more fiscal stimulus in the United States appears unlikely before the presidential election. Gold spot fell 0.2% to 1903.24 dollars an ounce …

European stocks rose from a two-week low, but still heading towards a weekly loss after a sell-off marked by fear of a second wave of Covid-19 cases, uncertainty related to Brexit and doubts about more fiscal stimulus in the United States. The pan-European STOXX 600 index rose 0.7% after recording …

Data showed that European car sales rose slightly in September, the first increase this year, indicating a recovery in the auto sector in some European markets, as Coronavirus cases decreased. Statistics from the European Automobile Manufacturers Association (ACEA) in September showed that sales of new cars rose 1.1% Y-o-Y to …