Market Update

Christine Lagarde, President of the European Central Bank, is delivering her remarks at the ECB Forum on Central Banking 2020. “Developments in the exchange rate may have a negative impact on the path of inflation.”“If this second wave of the virus proves to be less intense than the first, it …

Data released by the Mortgage Bankers Association showed that mortgage applications in the United States fell 0.5% in the week ending November 6th.It marked the first drop in three weeks, after an increase of 3.8% in the previous period. The average contract interest rate for 30-year fixed-rate mortgages with conforming …

Oil rose to $45 a barrel during Europen session for the first time in 10 weeks. Where the apparent decline in US crude inventories reinforced the rise in oil prices, which was mainly supported by Pfizer’s vaccine. The American Petroleum Institute (API) reported that crude inventories fell 5.15 million barrels …

Pfizer and BioNTech have reached an agreement with the European Union (EU) to supply the EU with 200 million doses of their coronavirus vaccine, as reported by Reuters. “Agreement provides a supply of 200 million doses and an option to request additional 100 million doses.”“Deliveries anticipated to start by end of 2020, …

Gold rose on Wednesday, November 11th, thanks to a weak dollar as investors study the logistical challenges surrounding the massive production of a potential Covid-19 vaccine in light of the increase in new virus infections, which strengthens the bet on greater economic support. And gold rose in the spot market …

The dollar incurred losses on Wednesday, November 11, as concerns about how the Covid-19 vaccine would be distributed over optimism about it, as well as the growing number of infections with the Coronavirus that causes the disease in the United States. The New Zealand dollar recovered from initial losses to …

Car sales in China rose 12.5% in October compared to the same month a year ago, marking an increase for the seventh month in a row as the world’s largest auto market continues to lead the global auto industry’s recovery from its lows with the Covid-19 pandemic. The data from …

The Japanese Nikkei Index rose to close at a new high in 29 years, as investors still hoped for a rapid global recovery from the Covid-19 pandemic, supported by developments related to the vaccine. The benchmark Nikkei Index closed 1.78% higher at 25,349.6 points, its highest close since June 1991. …

Data from the American Petroleum Institute on Tuesday showed that crude oil inventories in the United States fell sharply last week. Crude stocks fell by 5.1 million barrels in the week ending on the sixth of November to about 482 million barrels, while analysts polled by Reuters had expected a …

Oil prices jumped about 3% today, Tuesday, after hopes that a vaccine for Covid-19 looms on the horizon on concern about a drop in fuel demand due to new measures for public isolation to contain the Coronavirus Brent crude ended the world record for the nearest trading session maturity, up …