Market Update

The euro’s exchange rate stabilized against the dollar above $ 1.18 Monday (September 7th) as traders assess the latest US jobs data and prepare for the European Central Bank’s meeting on Thursday to see whether policymakers provide more stimulus. The dollar plunged to its lowest level in more than two …

A survey showed that investor sentiment in the Eurozone rose for the fifth month in a row in September to the highest level since February, giving hope that the recovery from the Coronavirus is still on its way. Sentix Eurozone index improved to -8 from -13.4 in August, and compared …

An IFO Institute survey showed that industrial companies in Germany, which have been hit by the economic downturn caused by the Coronavirus, expect production to increase slightly in the coming months. “The industrial sector, the engine of the German economy, is gradually returning to its course,” said Klaus Vollrape, supervisor …

Oil prices fell more than 1% on Monday (September 7th) after hitting the lowest level since July, after Saudi Arabia announced the largest monthly price cut for supplies to Asia in five months, while optimism about a recovery in demand dwindled amid the pandemic. Brent crude was $ 42.11 a …

China’s imports of crude oil in August rose 13% from their level a year ago, supported by large purchase orders earlier in the year when global oil prices collapsed and at a time when customs clearance of shipments delayed in the past due to congestion at ports. Data issued by …

European stocks rebounded Monday (September 7th) after turmoil led by Wall Street on tech stocks kept sentiment tepid the previous week, as investors closely followed developments for a COVID-19 vaccine. Australia is expected to receive its first batch of a COVID-19 vaccine in January after it entered into an agreement …

The Japanese Nikkei Index fell on Monday, September 7th, after Wall Street fell, while SoftBank Group shares tumbled on reports that it had made big bets on US technology stocks as the sector’s rally dissipated. The Nikkei index fell by 0.5% to close at 2,3089.95 points, while the broader TOPIX …

Data from the General Administration of Customs in China showed that Chinese exports denominated in dollars exceeded expectations, rising by 9.5% for August compared to last year. Meanwhile, China’s dollar-denominated imports in August were down 2.1% from a year ago. Economists polled by Reuters had expected exports to rise by …

Industrial Production in Germany rose less-than-expected in July, the official data showed on Monday, suggesting that the recovery in the manufacturing sector probably lost steam. The industrial output came in at +1.2% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs. a 4.8% …

The New York Stock Exchange (NYSE) finished the week with large losses on Friday’s session, with tech stocks leading the decline and the market seeing strong selling pressures. The Dow Jones Industrial Average declined by 159.42 points or 0.56%, closing at 28,133.31 points, down by 1.8% for the week. The …