Market Update

The 2021 Davos summit, which gathers world leaders and major business figures from around the globe, has been delayed, the World Economic Forum (WEF) announced on Wednesday. The annual summit will not be held in January as usual, due to the coronavirus (COVID-19) pandemic. The decision comes based on advice …

Crude oil inventories in the United States declined for the fifth consecutive week, according to data by the US Energy Information Administration (EIA) on Wednesday. Oil stockpiles decreased by 4.7 million barrels last week to a total of 507.8 million barrels. On Tuesday, Estimates by the American Petroleum Institute (API) …

The British pound rallied on Tuesday as the US dollar weakened and investors ignored an unexpected drop in monthly retail sales data in Britain. The dollar fell after investors returned to riskier currencies while a successful phone call between the United States’ top trade officials and China sparked a positive …

The dollar and euro were cautious in trading on Wednesday, August 26th, with dealers reluctance to make risky bets ahead of an important speech by US Federal Reserve Chairman Jerome Powell. In light of growing expectations that Powell will unveil a more tolerant policy towards inflation at the annual Jackson …

Oil rose today, Wednesday, to about $ 46 a barrel, near the highest level since March, with the support of American producers stopping most of the offshore production from the Gulf of Mexico before Hurricane Laura and a report showing a decline in US crude stocks. But the gains were …

French Labor Ministry data showed that the number of unemployed in the country fell by 174.3 thousand in July after a record low in June. The ministry added that the number registered with government employment offices as unemployed reached 4.046 million in July. Last month, France recorded the largest monthly …

New orders for US-made capital goods slowed in July, indicating that the recovery in investment activities could gradually become more gradual over the course of the COVID-19 pandemic even as the industry’s recovery appears to be gaining momentum. The US Commerce Department said non-defense capital goods orders except aircraft, which …

Peter Kazimir, a member of the European Central Bank’s governing council, said the eurozone economy is growing according to the path the European Central Bank expected in June, so policy makers still have room to wait for hard, more detailed data. Initially, it seemed that the Eurozone economy was recovering …

Gold prices settled on Wednesday, as concerns about the global economic outlook eased pressure from the progress in us-china trade agreement negotiations between, while investors awaited a speech from US Federal Reserve Chairman Jerome Powell. The spot of gold at 1919.71 dollars an ounce, down by 0.44%, while metal futures …

In its latest Global Macro Outlook published on Tuesday, Moody’s Investors Service said India’s economic recovery will face a tough path amid adverse real economy and bank weakness. In its latest Global Macro Outlook published on Tuesday, Moody’s Investors Service said India’s economic recovery will face a tough path amid …