Market Update

The German government plans to increase Coronavirus aid for companies to about EUR 4.5 billion per week next month, according to an official statement picked up by Reuters. “Cohesion and solidarity are hence the imperative of the hour,” said the Economy Minister Peter Altmaier. “We will not leave our companies …

The Brazilian economy has created a record number of jobs during October, according to recent dat. A net 394,989 formal jobs were created last month, according to recently released figures by the Brazilian economy ministry. This is the fourth consecutive month in which the largest economy in South America has …

After a slight rebound on Thursday, Thanksgiving holiday in the United States, it seems that the yellow metal’s correction wave is far from over. Gold futures are seeing negative performance with large losses on Black Friday, on the road to record its biggest weekly decline in about two months. Positive …

Profits for Chinese industrial companies rose in October for the sixth consecutive month and reached the fastest pace since early 2017, indicating a strong recovery in the manufacturing sector after being hit hard by the Covid-19 pandemic. According to data from the National Bureau of Statistics on Friday, profits of …

The precious metal came under sudden selling pressure against the US dollar, falling to its lowest level since July at 1782.28. There is not much fundamental catalyst behind this move but the technical selling could arise below the psychological level of $1800.

Data from the Turkish Statistical Institute showed today, Friday, that Turkey’s economic sentiment index fell 3.5% on a monthly basis in November to 89.5 points, as an increase in the frequency of new cases of coronavirus pushed Ankara to impose partial restrictions. The index had risen for six consecutive months …

The dollar fell in early trading in London on Friday and is heading to suffer a weekly loss against a basket of currencies, even though the stock market lost momentum as sentiment hurt from doubts about the AstraZeneca vaccine for Covid-19. The dollar has lost more than 2.2% since the …

European stocks rallied on Friday, as investors were cautious before the torrent of economic data expected to be released later today, while sentiment was also affected by doubts about the effectiveness of the AstraZeneca vaccine for Covid-19. The pan-European STOXX 600 index fell 0.1%, as the travel and energy sectors …

Germany intends to borrow 179.82 billion euros (214.36 billion dollars) next year, nearly double the 96 billion euros expected before that, lawmakers told Reuters on Friday, as Berlin is expanding aid measures to mitigate the impact of the Covid-19 pandemic on Europe’s largest economy. The German parliament’s budget committee of …

Gold fell on Friday and is heading to record its third consecutive weekly loss, as investors balance doubts about a Covid-19 vaccine that tops the nominations and optimism that the vaccines will arrive sooner than expected. Gold fell in immediate trading 0.1% to $ 1809.40 an ounce, with a weekly …