Market Update

Oil prices rose on Tuesday, amid the decline of the U.S. Dollar (USD), despite the International Energy Agency (IEA) cutting its expectations for the global demand for crude oil in 2021. Hopes for increased government stimulus by the new administration that is about to take over in the United States …

Gold prices rose on Tuesday, recovering some its recent losses, as the U.S. Dollar (USD) turned to the negative territory ahead of the inauguration of the President-elect of the United States, Joe Biden. The decline of the USD and the rise of the yellow metal are attributed to the expected …

Investors are growing worried about Bitcoin and tech stocks on Wall Street as the biggest risks of market bubbles right now, according to a recent report by Deutsche Bank picked up by CNBC on Tuesday. A survey by Deutsche Bank showed that the majority of investors, 89% of 627 participants, …

The European Commission, the executive body of the European Union (EU) seeks to increase the international role of the Euro (EUR), building more independence away from the dominance of the U.S. Dollar (USD), Reuters reported. “With the withdrawal of the UK from the EU, there is a strong need and …

European stocks closed lower on Tuesday, amid anticipation for the developments of the Coronavirus pandemic across the content and for the new administration in the United States taking over tomorrow with the inauguration of President-elect Joe Biden. The pan-continental STOXX Europe 600 index finished lower by 0.2%, with the basic …

Manufacturing sales in Canada declined during November for the fourth month in a row, falling by 0.6%, according to data by Statistics Canada released on Tuesday. Manufacturing sales registered CAD 53.7 billion in November.

Wholesale sales in Canada increased during November 2020 for the seventh consecutive month to reach a new record high, data by Statistics Canada showed on Tuesday. Wholesale sales rose by 0.7% to hit a new all-time high of CAD 67.4 billion. In volume, wholesale sales went up by 0.9% in …

Goldman Sachs Group announced a 153% increase in fourth-quarter profit today, Tuesday, driven by the strong performance of its core bond trading and underwriting activities, and an increase in mergers and acquisitions activities. The bank’s net profit attributable to ordinary shareholders rose to $ 4.36 billion in the quarter ended …

The German ZEW headline numbers for January showed that the Economic Sentiment Index improved to 61.8 versus 60.0 expected and 55.0 prevoius. While the sub-index Current Conditions figure arrived at -66.4 in Jan versus -68.5 expected and -66.5 seen previously. Meanwhile, the Eurozone ZEW Economic Sentiment for Jan unexpectedly rose …

Bank of America reported a profit of 59 cents, compared to expectations of 55 cents, according to Refinitiv estimates. Quarterly revenues decreased by 10% to $ 20.2 billion compared to the same quarter of the previous year, which fell below expectations of $ 500 million. The following are the bank’s …