Market Update

Employment in the US’ private sector increased by 307,000 in November, the monthly data published by the Automatic Data Processing (ADP) Research Institue revealed on Wednesday.  This reading followed October’s increase of 404,000 (revised from 365,000) and missed the market expectation of 410,000.

Gold rose Wednesday, December 2, to its highest level in more than a week, supported by the dollar’s decline, while signs of progress in discussions on a new US stimulus package to mitigate the repercussions of the Covid-19 pandemic boosted the appetite for the precious metal as a hedge against …

The dollar settled near its lowest level in two and a half years Wednesday, December 2, as investors assess the prospects for further fiscal stimulus in the United States, while riskier currencies held onto their gains as investor confidence improved. The Chinese yuan lost some of its gains in Asian …

The seasonally-adjusted Unemployment Rate in the euro area ticked down to 8.4% in October from 8.5% in September, the data published by the Eurostat showed on Wednesday. This reading came in line with analysts’ estimates.

German retail sales rebounded more than expected in October, data reported Wednesday, December 2, indicating that consumers supported overall growth in Europe’s largest economy ahead of partial lockdown measures to contain the second wave of the coronavirus pandemic. The Federal Statistics Office said retail sales rose 2.6% in October on …

Oil prices fell in early transactions on Wednesday, December 2, but recovered some losses later after news indicating that Britain has become the first country in the world to agree to use a vaccine for Covid-19, which will start from next week. Prices fell earlier after an unexpected build-up in …

Gold fell on Wednesday 2 December, as investors were cautiously dominated due to doubts about progress in the stimulus package in the United States, while reports of developments regarding the Covid-19 vaccine added pressure. Spot gold prices fell 0.3% to $ 1808.67 an ounce after an increase of more than …

The United Kingdom has become the first country in the world to authorize the Pfizer and BioNTech coronavirus vaccine, making it available as of next week. “The government today accepted the MHRA recommendation to approve the use of the Pfizer-BioNTech Covid-19 vaccine,” the government said. And “the vaccine will be …

The New York Stock Exchange (NYSE) saw a record-breaking performance on Tuesday, supported by an improved sentiment regarding a possible agreement on a new stimulus package. The Dow Jones Industrial Average broke the 30,000-point level once again and reached 30,046 earlier in the session, before closing higher by 185.28 points, …

Oil prices fell on Tuesday to their lowest level in about a week, after the OPEC+ alliance delayed its decision regarding output cuts, in a move that was somehow expected. Brent crude futures for February delivery fell by 46 cents, or 1%, at $47.42 per barrel. West Texas Intermediate (WTI) …