Market Update

Retail Sales in Canada rose by 1.1% on a monthly basis in October to $ 53.9 billion, the data published by Statistics Canada showed on Friday. This reading followed August’s increase of 0.4% and came in slightly lower than the market expectation of 1%. “Rounding out the third quarter, retail …

Pfizer and BioNTech announced on Friday that they will be submitting an emergency use authorization request to the US Food and Drug Administration (FDA) on Friday. The shares of BioNTech and Pfizer increased by 6.3% and 1.5%, respectively, in the pre-opening trade on Wall Street. Today’s announcement came two days …

The dollar rose today, Friday, against a basket of currencies in early trade in London, reversing its downward trend when US Treasury Secretary Stephen Mnuchin called for an end to some emergency lending by the Federal Reserve (US Central Bank). Mnuchin’s move reallocates about $ 455 billion directed to the …

European stocks rose on Friday, as gains in the retail and oil sectors erased concerns about the political situation in the United States and an impasse over new stimulus measures to support the global economy, which has been ravaged by the pandemic. The pan-European STOXX 600 index rose 0.2% and …

The Turkish consumer confidence index fell 2.2% to 80.1 points in November from 81.9 the previous month, indicating a state of caution after a brief improvement in light of the worsening outbreak of the Coronavirus, according to data from the Turkish Statistical Institute. The pandemic control measures brought the economy …

Gold prices are heading today, Friday, to record a decline for the second week in a row, as the attractiveness of the yellow metal is under pressure from promising tests for a Covid-19 vaccine and news that the US Treasury is ending emergency loan programs. Gold fell in immediate transactions …

President of Petroleum Association of Japan, Tsutomu Sugimori expected Friday that OPEC and its allies, the group known as OPEC+, will likely delay a plan to increase production in January and stick to existing cuts of 7.7 million barrels per day. He also said that demand in Japan for gasoline …

Japanese shares fell on Friday for the third straight session, as a rise in new cases with the Coronavirus inside the country to record levels fueled fears that officials will introduce new restrictions on business activities. The Nikkei index fell 0.42% to close at 25,527.37 points. The broader TOPIX index …

Gold prices continued to decline on Thursday for the third consecutive session, as the US Dollar (USD) rose against major currencies. Positive news about a Coronavirus vaccine and fears about renewed lockdown measures against a new wave of the pandemic seem to be balancing out with the rise of the …

The President of the European Central Bank (ECB), Christine Lagarde, said on Thursday that she expects inflation in the Eurozone will likely remain in the negative territory into early 2021. This comes amid renewed lockdown and preventive measures across the European continent to curb the spread of the new wave …