Market Update

There was little change in oil futures on Tuesday (September 22nd) after heavy losses overnight, as the latest hurricane receded in the Gulf of Mexico, but concerns about fuel demand continued due to an increase in coronavirus cases around the world. By 0637 GMT, Brent crude futures were down 3 …

The Turkish lira hit a record low against the dollar, as investors assess the possibility of a central bank raising interest rate during its meeting this week to limit the currency’s decline. The lira recorded 7.6440 against the dollar at 06:00 GMT, the lowest level ever after it recorded 7.6365 …

Governor Andrew Bailey said the Bank of England’s latest policy statement did not imply it would necessarily use negative interest rates, and that observers should not read too much into it. “It doesn’t imply anything about the possibility of us using negative instruments,” Bailey told an online talk hosted by …

“The UK economy can be viewed as a glass half full or half empty,” the Bank of England (BOE) Governor Andrew Bailey said while speaking at a webinar hosted by the British Chamber of Commerce on Tuesday. Quotes“UK recovery has been quite rapid and quite substantial.““Below the surface recovery is …

The People’s Bank of China (PBOC) has set the yuan reference rate at 6.7872 versus Monday’s fix at 6.7595.

Federal Reserve Chairman Jerome Powell said Monday that the US central bank remains committed to using all the tools at its disposal to help the world’s largest economy recover from the blow it took from the coronavirus pandemic. “We remain committed to using our tools to do what we can, …

The British Telegraph newspaper reported that Prime Minister Boris Johnson will encourage Britons to return to work from home if possible to help contain the outbreak of the Coronavirus. The newspaper’s chief political correspondent said in a tweet on Twitter, citing sources, that Johnson told lawmakers that “moving now means …

Gold rose within a narrow range Tuesday, September 22nd, as fears of a surge in COVID-19 cases across Europe addressed the pressure of the dollar’s strength on the precious metal, ahead of words for decision-makers in the US Federal Reserve this week. Gold rose in the spot market 0.1% to …

The New York Stock Exchange (NYSE) closed Monday lower, amid risk aversion by investors and selling pressures. The Dow Jones Industrial Average plunged by about 510 points, or 1.84%, and closed at 27,147.70 points. The S&P 500 index closed lower by 38.41 points, or 1.16%, at 3,281.06 points. Meanwhile, the …

US Treasury yields declined on Monday, as risk aversion and selling pressures in stock markets led more investors towards safe havens, thus, increasing demand. Return on the 10-year Treasury notes decreased by 2.4 basis points to 0.670%. The yield on the 30-year bond plunged by 2.7 basis points to 1.426%. …