Market Update

The dollar is facing difficulties to rise from its lowest level in a week on Tuesday, February 9th, as traders went anxious about the outlook for the greenback with the future of major US financial stimulus package. Investors have pushed the dollar higher in recent weeks, as Democrats move quickly …

Bitcoin hit $48,000 for the first time in the early trading on Tuesday at Bitstamp, as it headed towards the $50,000 barrier. The market value of the largest cryptocurrency in the world has now exceeded $ 891 billion. Bitcoin has risen nearly 24% since the leading electronic car maker Tesla …

Oil prices rose on Tuesday, February 9th, to their highest in 13 months, as energy markets received support from major producers cutting supplies and optimism about a recovery in fuel demand. Brent crude futures for April delivery were 50 cents, or 0.8%, at $ 61.06 a barrel. US West Texas …

Japanese stocks closed higher for the third consecutive session on Tuesday, February 9, after reaching a 30-year high, as strong business results for companies and progress in distributing anti-virus vaccines raised expectations of a rapid economic recovery. The benchmark Nikkei index rose 0.4% to 29,505.93 points, while the broader Topix …

The main indices of the New York Stock Exchange (NYSE) closed at new record highs on Monday, opening the second week of February with a strong performance that build up on the recent surges, which come on the back of improved risk sentiment among Wall Street investors and anticipation for …

The President of the Federal Reserve Bank of Cleveland, Loretta Mester, said on Monday that the Fed will maintain its monetary easing policies for a very long time to help the economy achieve the inflation and employment goals set by the central bank, Reuters reported. Mester believes that economic activity …

Oil prices continued to rise on Monday, with the global benchmark crude reaching the $60 a barrel level for the first time in about a year. This comes amid the commitment of the OPEC+ alliance to output curbs, improved expectations for the recovery of global demand, and anticipation for a …

The President of the Federal Reserve Bank of Richmond, Thomas Barkin, is not concerned with an overshoot in inflation due to the increased government stimulus, which he views as necessary to achieve economic recovery. Barkin still sees some short-term price volatility, with deflationary and inflationary risks ahead, he told the …

Gold prices rose on Monday, for the second consecutive session, opening the week with a positive performance after dropping on Thursday by 2% to its lowest level since November. The yellow metal gains come amid anticipation for an increase in the United States government stimulus spending. The Democrats are working …

A report by Goldman Sachs on Monday showed a rise in the bank’s expectations for the growth of the gross domestic product (GDP) in the United States during the second quarter of 2021 to 11% from a previous estimate of 10%. Goldman Sachs now sees additional fiscal measures at $1.5 …