Market Update

The United Kingdom (UK) and the European Union (EU) are set to begin talks for an agreement about coordinating financial services, Reuters reported. The announcement was made on Tuesday by the spokesman of the British Prime Minister Boris Johnson. The aim is reportedly to reach an agreement by March. “Discussions …

The New York Times reported that Deutsche Bank decided not to conduct future activities with US President Donald Trump or his companies, following the attack by his supporters on the US Congress building. Deutsche Bank is Trump’s largest lender, as Trump’s disclosures to the US Government Ethics Office and banking …

The compliance of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, the group known as OPEC+, with oil output curbs declined to 75% in December, Reuters reported on Tuesday.

The dollar held on to four-day gains against major counterpart currencies on Tuesday, as prospects for a massive fiscal stimulus pushed US yields higher. US President-elect Joe Biden, who will take office on January 20, with his Democratic Party in control of both houses of Congress, promised “trillions” of additional …

European stocks stabilized today, after falling in the last session, as investors looked forward to the next earnings season and focused on the possibility of further stimulus in the United States under the next president, Joe Biden. The pan-European STOXX 600 index rose 0.4%, with the oil and gas, travel …

Oil prices rose today, Tuesday, thanks to expectations of a drawdown of crude stocks in the United States for the fifth week in a row, but investors worried about the increase in cases of Coronavirus around the world curbed price gains. Brent crude futures rose 22 cents, or 0.4%, to …

Japan’s Nikkei index rose to close at its highest level in three decades on Tuesday, as drugmakers’ shares led activity thanks to a report stating that a drug manufactured by Chujai Pharmaceuticals is effective in treating Covid-19 patients. The Nikkei index rose 0.09% to 28,164.34 points, after recovering from early …

The White House said that US President Donald Trump agreed on Monday to declare a state of emergency for Washington, DC, between now and January 24, hours after authorities warned of security threats during the week of President-elect Joe Biden’s inauguration next week.

Gold rose today, Tuesday, to recover from its lowest level in six weeks that touched it in the previous session, as stocks fell due to political turmoil in Washington and the slow pace of vaccination with anti-Covid-19 vaccines around the world. Gold rose in immediate transactions 0.8% to 1860.10 dollars …

Bitcoin and other cryptocurrencies saw strong correction on Monday with profit making leading to market losses of about $200 billion in market cap. The world’s largest digital asset has been on a rising streak of late, breaking multiple consecutive records, on the back of increased demand, especially from institutional investors. …