Market Update

Oil prices closed lower on Monday, awaiting the OPEC+ decision regarding output cuts. A decision is expected on Tuesday, although it was reported that the meeting could be delayed to Thursday. Brent crude futures for February delivery declined by 37 cents, or 0.8%, and settled at $47.88 per barrel. Meanwhile, …

Gold prices fell on Monday, expanding its fourth consecutive monthly decline during November. The ending month saw a decreased demand for safe havens, especially the yellow metal, prompted by positive news about Coronavirus vaccines. Gold futures for February delivery declined by $7.20, or 0.4%, and closed at $1,780.90 per ounce, …

The President of the Federal Reserve Bank of Richmond, Thomas Barkin, spoke to reporters earlier today, before a speech to a virtual event. ‘’It’s hard to find a huge drop in the real-time data.”“I’m thinking about credit-card spending which I get to see every week. It really hasn’t taken a …

European stocks ended their best month on record, which began in 1986, supported by positive news about Coronavirus vaccine candidates. The aviation sector alone made gains of about 45% during the ending month. The STOXX Europe 600 index closed lower on Monday by 0.6%, but rose by more than 14% …

The US Dollar (USD) is showing a mixed performance at the beginning of the week, following the release of housing and manufacturing data on Monday. The Dollar Index (DXY), which measures the USD performance in front of six major international currencies, is moving to the positive territory, after spending the …

Factory activity in the state of Texas expanded during November for the sixth consecutive month, according to data by the Federal Reserve Bank of Dallas. The production index declined from 25.5 to 7.2, indicating a deceleration in output growth. Other measures of manufacturing activity also point to slower growth this …

The United States Pending Home Sales Index decreased by 1.1% to 128.9 in October, according to data released by the National Association of Realtors on Monday. On an annual basis, pending homes sales surged by 20.2% last month.

Pending Home Sales in the US fell by 1.1% on a monthly basis in October following September’s decline of 2%, the data published by the US National Association of Realtors showed on Monday. This reading came in worse than the market expectation for an increase of 1%.

The economic consequences of the coronavirus pandemic will be felt for years to come, German Chancellor Angela Merkel said on Monday, as reported by Reuters. “I hope we can find a solution to ensure the passing of the recovery fund and the EU budget,” Merkel added

Inflation in Germany, as measured by the Consumer Price Index (CPI), was -0.8% November, Destatis reported in its flash estimate on Monday. This reading followed the 0.1% increase seen in October and missed the market expectation of -0.7%. Further details of the publication revealed that theHarmonized Index of Consumer Prices …