Market Update

Japanese stocks rose to a 30-year high at the close, on the path of a strong performance for Wall Street stocks yesterday, thanks to investor optimism about positive corporate earnings as well as expectations of enhanced growth due to a huge stimulus package from the new US administration. The Nikkei …

Oil prices rose on Wednesday for the second consecutive session, amid expectations for increased stimulus spending by the new administration in the United Stated as President Joe Biden was officially inaugurated earlier today. Brent crude futures for March delivery added 18 cents, or 0.3%, to close at $56.08 per barrel. …

Gold prices rose on Wednesday to close at their highest level in about two weeks, amid anticipation for increased stimulus spending in the United States by the new administration of President Joe Biden. The rise of the yellow metal came as the U.S. Dollar (USD) declined, after shortly rising earlier …

The U.S. Dollar (USD) declined on Wednesday against its Canadian counterpart (CAD), following the release of the Bank of Canada’s (BoC) policy statement. In its meeting earlier today, the BoC decided to maintain its main rate unchanged at 0.25% and to keep the current pace of bond purchases at CAD …

The Bank of Canada (BoC) has decided to maintain its current interest rate unchanged at 0.25%. The Canadian central bank has vowed to maintain the low rate until the economic recovery from the impact of the Coronavirus pandemic is well underway. This comes against some market expectations the BoC may …

European stocks rose on Wednesday, with the pan-continental STOXX Europe 600 index rising by 0.7%. The automobile sector led the rising sectors, gaining 2.7%. In France, the CAC40 index rose by 0.53%, while the German index DAX leveled up by 0.77%. Meanwhile, the UK’s FTSE100 ended the session higher by …

Joe Biden was sworn in as the 46th President of the United States on Wednesday. Prior to the heavily protected ceremony, now former President Donald Trump left the White House and spoke at a small farewell gathering. In addition, Kamala Harris was sworn in as Vice President of the U.S., …

Homebuilders’ confidence in the United States for the single-family home market declined during January, data showed on Wednesday. The NAHB/Wells Fargo Housing Market index decreased to 83 in January from a previous reading of 86, against market expectations that saw the index remaining unchanged. The index for sales expectations during …

A prolonged lockdown in Germany to help combat the spread of the Coronavirus is expected to impact the growth of the largest economy in Europe, according to market experts, Reuters reported. Ifo is expecting the second quarter (Q2) of 2021 to see a growth rate of 3%. As for Q1, …

The British Pound (GBP) is rising on Wednesday against the U.S. Dollar (USD), after data showed that inflation in the United Kingdom (UK) rose more than expected during December. The GBP/USD pair is up by 0.19% for the day, trading at 1.3656. The pair has been moving today in a …