Market Update

The dollar fell in Asia on Wednesday (December 9th), as signs of progress in the fight against the Covid-19 pandemic undermined demand for safe assets, while the pound was facing anxious anticipation ahead of a meeting of leaders seeking to salvage a trade deal of Brexit The US currency fell …

German exports increased less than expected in October, but foreign trade continued to provide a boost to Europe’s largest economy at the start of the fourth quarter of the year as it struggled to avoid a slide into deflation. The Federal Statistics Office said on Wednesday that exports, adjusted for …

Oil prices rose on Wednesday, December 9th, to reduce crude losses incurred earlier, amid positive news about Covid-19 vaccines that boosted investors’ hopes for a recovery in fuel demand, which overshadowed concern about an unexpected jump in US oil stocks last week. Brent crude rose 11 cents, equivalent to 0.2%, …

Gold prices retreated from a two-week peak on Wednesday, December 9, as encouraging developments for the Coronavirus vaccine prompted investors to buy high-risk stocks as global stocks rose to record levels. Gold fell in the spot market 0.7% to $ 1858.80 an ounce, after hitting the highest level since November …

Data by the American Petroleum Institute (API) showed on Tuesday that crude oil inventories in the United States increased by 1.1 million barrels last week. Meanwhile, gasoline stockpiles grew by 6.4 million barrels, and distillate inventories rose by 2.3 million barrels.

The New York Stock Exchange (NYSE) finished Tuesday on a higher note, amid renewed hopes for a new government stimulus package. The Dow Industrial Average rose by 104.09 points, or 0.35%, to close at 30,173.88 points. The S&P 500 closed at 3,702.25 points, gaining 10.29 points, or 0.28%. Meanwhile, the …

Treasury yields in the United States declined on Tuesday, amid growing anticipation for a new stimulus package with talks still ongoing. This also comes amid the rise in the number of Coronavirus cases. Return on the 10-year Treasury bond decreased by 1.5 basis points to 0.913%, after falling earlier below …

Oil prices showed a mixed performance on Tuesday, amid increasing concerns about the rising number of Coronavirus cases. Brent crude futures for February delivery rose by 0.10% and finished at $48.84 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures for January delivery declined by 0.4% and settled at …

Gold prices rose on Tuesday for the second consecutive session, amid the decline in the US treasury yields and despite a rise by the US Dollar (USD) and renewed hopes for a new government stimulus package in the United States. Gold futures for February delivery added $8.90, or 0.5%, and …

Unit labor costs in the United States declined during the third quarter (Q3) of the year, data by the US Department of Labor showed on Tuesday. The price of labor for each unit of output decreased by 6.6%, compared with a previously estimated 8.9%. It is worth noting that during …