Market Update

The Bank of England’s (BoE) Monetary Policy Committee (MPC) decided to leave the benchmark interest rate unchanged at 0.10% at its December policy meeting and kept the Asset Purchase Facility steady at £895 billion.

The dollar hit its lowest level in two and a half years against major rival currencies on Thursday (December 17th), as risk appetite was boosted by progress towards agreement on a stimulus package in the United States and an accord linked to Britain’s exit from the European Union. On Wednesday, …

Bitcoin rose to a record high one day after it crossed the $20,000 mark for the first time, amid growing interest in it from major investors. The world’s most prominent cryptocurrency jumped 10.5% to 23,655 dollars, to exceed its gains this year 220%, supported by a request from large investors …

European shares remained at their highest level in ten months Thursday, December 17th, as hopes for more stimulus in the United States and possible distribution of COVID-19 vaccines in Europe boosted expectations for a global economic recovery. The German DAX index rose 1.1% to reach its highest level since February, …

Gold prices reached a week high on Thursday, December 14th, as progress in reaching an agreement on fiscal stimulus in the United States pressed the dollar, while the yellow metal received more support thanks to the US Federal Reserve’s pledge to keep interest rates low until the economy recovers. In …

The Swiss National Bank (SNB) board members announced a no change to their monetary policy settings after it concluded the December quarter monetary policy assessment on Thursday. The SNB kept the key sight deposit rate steady at -0.75% while maintaining the 3-Month Libor Target Range steady between -1.25% to -0.25%, …

Japanese stocks closed higher for a second session Thursday (December 17th) as sentiment received a boost from expectations of further economic stimulus in the US and pledges of support from the US Federal Reserve. The benchmark Nikkei index rose 0.18% to 26,806.67 points, offsetting losses incurred in morning trade. The …

Oil prices closed higher on Wednesday, amid hopes for a new stimulus package in the United States, and after a decline in US crude inventories last week. Crude prices maintained their best levels since early March, as the global benchmark, Brent crude futures for February delivery gained 32 cents, or …

Gold prices rose on Wednesday, amid anticipation for a new stimulus package in the United States. The yellow metal futures for February delivery rose by $3.80, or 0.2%, to close at $1,859.10 per ounce. This is the highest closing level for gold futures since December 8.

The United States Federal Reserve has decided as expected to maintain interest rates near 0% during its two-day meeting that concluded on Wednesday. The Fed policy statement noted that policymakers are committed to maintaining asset purchases at at least $120 billion per month.