Market Update

European stocks closed lower on Tuesday, after giving up its earlier gains amid a mixed performance, continuing to move within a mostly tight range. The Stoxx Europe 600 index closed lower by 0.38%, after rising earlier today by as much as 0.8%. The UK’s FTSE100 plunged by 1.7%, and the …

The Canadian Dollar (CAD) is maintaining some of its gains against the US Dollar (USD) on Tuesday. The CAD is up by 0.04% against the USD, after rising earlier by more than 0.1% to its highest level against the greenback in eight months. The Canadian Dollar is supported by improved …

Safe haven currencies, namely the Japanese Yen (JPY) and the Swiss Franc (CHF) are showing a weak performance on Tuesday, amid decreased demand with improved risk appetite supported by news of new COVID-19 vaccine and treatments. The CHF is leading the decline with its highest losses coming against the New …

Construction spending in the United States marginally increased during July, as shown by the data of the US Department of Commerce on Tuesday. Construction spending rose by 0.1% in July. Meanwhile, the June reading was revised to a 0.5% decline. Private construction spending grew by 0.6%, while spending on residential …

The IHS Markit’s Manufacturing Purchasing Managers’ Index (PMI) for the US improved from 50.9 in July to 53.1 in August to show that the economic activity in the manufacturing sector continued to expand at a robust pace. This reading came in slightly weaker than the previous estimate and the market …

The economic activity in Canada’s manufacturing sector expanded at a stronger pace in August than it did in July with the IHS Markit’s Manufacturing PMI rising to 55.1 from 50.4. This reading beat the market expectation of 50.4. “Latest data highlighted a strong upturn in the Canadian manufacturing industry, continuing …

The Nasdaq index, which is full in technology stocks, reached a record high at the open today, Tuesday, after Apple shares rose and following positive data for the manufacturing sector in China and Europe, which raised an atmosphere of optimism ahead of the US factory activity figures. The Nasdaq rose …

The unemployment rate has risen again in the Eurozone as the impact of the Coronavirus pandemic is still. Official figures put the unemployment rate in the region at 7.9% for July. This comes after the Eurozone recorded an unemployment rate of 7.7% in June. The numbers draw a worsening picture …

A survey showed that factory production in Britain compensated for some of the losses caused by the Covid-19 pandemic, as it rose in August at the fastest pace in more than six years. The IHS Market/CIBS Manufacturing Purchasing Managers’ Index rose to 55.2 in August from 53.3 in July, broadly …

German Economy Minister Peter Altmaier said that the country’s gross domestic product will reach its level before the crisis of the Coronavirus outbreak in 2022, adding that he does not expect strict general isolation measures to be imposed in sectors such as retail or industry due to the pandemic.