Market Update

The New York Stock Exchange (NYSE) settled lower on Tuesday, as concerns regarding the COVID-19 pandemic continues to curb investors’ risk appetite, reflected by the rising demand for safe havens with gold prices reaching unprecedented levels. In addition, the market is anticipating the Federal Reserve meeting, in which it is …

Oil prices declined on Tuesday to settle at their lowest level in a week, ahead of the release of the US inventory data by the American Petroleum Institute (API). The global benchmark Brent crude futures for September delivery declined by 19 cents or 0.4% and finished at $43.22 per barrel, …

After rising above the $11,000 mark earlier today, the price of Bitcoin declined by 2.4% to trade at $10,986.10. Earlier today, Bitcoin rose by $1,268 or 12.7% to trade as high as $11,203.90, reaching its highest level in six months. Meanwhile, Ethereum is down by 1.6% at $317.48. Bitcoin Cash …

Gold prices settled higher on Tuesday after recovering from brief losses, achieving a new record high closing level for the third consecutive session. Concerns regarding the COVID-19 pandemic, as reflected by the decline in the US consumer confidence index, have spurred demand for safe havens. Gold futures for August delivery …

The US Federal Reserve has extended its lending facilities due on September 30 for three months to the end of 2020. The move comes as an effort to ease pressures on business amid the COVID-19 crisis. The three-month extension will facilitate planning by potential facility participants and provide certainty that …

European stocks returned to gains and closed higher on Tuesday, supported by increased demand from investors. The STOXX Europe 600 index rose by 0.47% and closed at 367.87. Meanwhile, FTSE100 settled higher by 0.40%, while CAC40 declined by 0.22%. DAX and FTSE MIB closed lower by 0.026% and 0.6%, while …

The British Pound (GBP) rose on Tuesday against the US Dollar (USD), to its highest level in about four months. The GBP appreciation came on the back of positive news about progress in the post-Brexit trade agreement between the UK and the EU. The GBP/USD is trading at 1.2939, up …

Consumer confidence in the United States declined during July, as shown by data released by the Conference Board on Tuesday. The Consumer Confidence Index decreased in July, after increasing in the previous month. The index reached 92.6 this month, down from 98.3 in June. In addition, the expectations index, based …

The Dollar Index (DXY), which measures the performance of the US Dollar (USD) against a basket of major international peers, declined on Monday, due to the rising number of COVID-19 cases in the United States. Meanwhile, the market is anticipating the Congress passing a new economic stimulus package, as well …

The New York Stock Exchange (NYSE) settled lower on the first session of the week, closing higher on Monday on the back of news about a new $1 trillion stimulus package to be soon approved by the US Congress. The Dow Jones Industrial Index rose by about 115 or 0.43%, …