Market Update

Global crude oil markets lost about a fifth of their value in 2020, as strict lockdown measures to combat the Coronavirus have crippled most of the global economy, but prices have rebounded strongly from their low levels as governments provide a stimulus. On Thursday, the last trading day in 2020, …

Gold prices, on Thursday, December 31, seem to be heading to achieve the best annual performance since 2010, even at a time when the yellow metal is under pressure due to the weak prospects of providing greater financial aid in order to stimulate the US economy and the recovery of …

Data from the Turkish Statistics Institute showed that the country’s external trade deficit rose 153.5% year on year in November to $5.033 billion according to the general trade system. The institute said that Turkey’s exports fell 0.9% and imports rose 15.9% compared to November 2019. In the first eleven months …

Asian stocks swung between gains and losses during the early hours of the last trading day of 2020. While Chinese stocks benefit from improved Manfuctring activity numbers in December and coronavirus vaccine news. The MSCI Asia Pacific Index of stocks outside Japan rose 0.43%. The Australian ASX 200 is down …

Gasoline prices in the United States hit a nine-month high, as drivers take to the roads in the holiday season, crude oil prices continue to rise and refiners continue to reduce fuel production due to weak profit margins. According to the American Automobile Federation, gasoline prices at gas stations exceeded …

The manufacturing PMI fell to 51.9 in December from 52.1 last November. The Chinese economy is expected to expand about 2% for the full year at the weakest pace in more than three decades. The official PMI showed that the new export orders sub-index stood at 51.3 in December, down …

Oil prices rose on Wednesday, supported by a larger-than-expected drop in crude stocks in the United States and Britain’s approval of a second anti-Corona virus vaccine, but it is under pressure from dwindling hopes for a strong recovery in demand. Brent crude futures, the global benchmark, ended the trading session …

US stocks rallied on Wednesday as investors looked for improved economic prospects in 2021 following the distribution of vaccines to prevent Covid-19 disease and hopes for more financial support. The Dow Jones Industrial Average ended the trading session on Wall Street, up 73.89 points, or 0.24%, to 30,409.56 points, while …

Gold prices finished Wednesday higher, supported by the decline of the US Dollar (USD) across the board. The yellow metal futures for February delivery closed higher by 0.6% at $1,893.40 per ounce. The DXY is down by 0.37% at 89.66.

The British parliament has approved on Wednesday the post-Brexit trade deal with the European Union (EU). This comes a couple of days before the end of the transition period after the government of Prime Minister Boris Johnson reached an agreement with the EU regarding future relations between the two parties …