Market Update

The President of the Federal Reserve Bank of San Francisco, Mary Daly, has warned that the COVID-19 pandemic could widen gender and racial inequalities, Reuters reported. “We need to make sure that we reach back and ensure that everyone makes it through the pandemic, not just those who are fortunate …

Gold prices declined on Tuesday amid a strong correction wave, seeing its largest fall in more than seven years, since mid-April 2013. The losses of the yellow metal as stock markets around the globe flourished, supported by positive news about a vaccine for the coronavirus disease (COVID-19). Gold futures for …

The number of people in employment in the United Kingdom (UK) registered 32.92 million during the second quarter (Q2) of 2020, according to estimates by the British Office for National Statistics. This marked an increase of 113,000 people on an annual basis, but a decline of 220,000 on a quarterly …

The Producer Price Index (PPI) in the United States recorded its highest monthly increase since October 2018, rising by 0.6% in July, data showed on Tuesday. The reading comes as double the expectations of a recent Reuters poll, and after the index declined by 0.2% in June. On an annual …

European stocks settled higher on Tuesday with most of the market sectors showing a strong positive performance. The pan-European Stoxx 600 index and FTSE100 both closed higher by 1.7% each. Meanwhile, CAC40 and DAX gained 2.4% and 2.04%, respectively. It is worth noting that markets are anticipating the approval for …

Russia announced on Tuesday it began developing a new analytical tool to monitor major cryptocurrencies such as bitcoin and other cryptocurrencies, as part of the Russian government’s attempt to combat money laundering and terrorism using artificial intelligence. The new system is designed to track the movements of digital financial assets …

The Producer Price Index (PPI) in the US for final demand rose from -0.2% in June to 0.6% in July, the data published by the US Bureau of Labor Statistics showed on Tuesday. On a yearly basis, the PPI edged up to -0.4% and came in higher than the market …

Gold fell on Tuesday, August 11th, as a relative rise in the dollar against the rest of the currencies prompted some investors to profit-taking, which rose to a record high of $ 2,000 an ounce. Spot of gold fell 0.5% to 2017.53 dollars an ounce, retreating from a record high …

The ZEW Institute reported on Tuesday that investor confidence in Germany improved more than expected in August, but indicated that experts are seeing the current conditions improve slowly. A survey of investor confidence in the economy rose to 71.5 from 59.3 in the previous month, far exceeding expectations of 58 …

US President Donald Trump said he is considering reducing the capital gains tax in the United States, as well as reducing income taxes for middle-income families to help the US economy recover from the economic repercussions of the Coronavirus. “We’re … also considering a capital gains tax cut, which would …