Market Update

Gold prices increased on Thursday with the rising number of cases with the coronavirus disease (COVID-19) pushing demand for safe havens, despite news of successful attempts at developing an effective vaccine and signs of economic recovery. Gold futures for August delivery increased by $10.10, or 0.6%, and closed at $1,790 …

European stocks closed Thursday higher, supported by positive sentiments regarding economic recovery as markets across the continent continue to reopen and data from the US showing a surge in new jobs during June. The pan-European STOXX Europe 600 increased by 1.89% to settle at 368.03 points, its highest closing level …

The top cryptocurrencies showed a decline over the past 24 hours, despite an improved risk appetite across most global markets. Bitcoin is currently trading at $9,110, down by 1.81%, while Bitcoin Cash is down by 2.32% at $220.72. Ethereum decreased by 1.88%, trading at $227.36. Tether and XRP are down …

The New York Stock Exchange (NYSE) opened higher on Thursday, supported by positive economic data, with the Nasdaq reaching a new record high. The Dow Jones Industrial Index is now up by 0.84% at 25,952 points, the S&P 500 index is up by 0.89 at 3,143.6 points, while the Nasdaq …

German Chancellor Angela Merkel said that members of the European Union (EU) must agree on a deal to help fund the recovery of the bloc’s economies from the effects of the coronavirus disease (COVID-19) pandemic. A deal must be reached before the end of summer, Merkel stressed in her remarks …

Industrial production in Brazil increased by 7% during May, recording its biggest rise on record. This comes as economic activity in Brazil resumed after two months of lockdown due to the spread of the coronavirus disease (COVID-19). On an annual basis, industrial production decreased in Brazil by 21.9%.

New factory orders in the United States increased during May on a monthly basis by 8%, according to data by the US Commerce Department. This shows a sign of recovery, after orders for US-manufactured goods decreased by 13.5% in April, despite coming below the market expectations consensus of an 8.9% …

The President of the United States, Donald Trump, said that the most recent job data proves that the US economy is roaring back. The US Non-Farm Payrolls (NFP) report, released by the United States Bureau of Labor Statistics, showed an increase of 4.8 million jobs in June, beating market forecasts. …

Markit Manufacturing PMI for Canada recovered in june. The Canadian Manufacturing PMI reported a contraction of economic activity recording 47.8 in May, compared to 40.6 in June. “The latest Canada Manufacturing PMI highlights a vastly improved situation in comparison to that seen over the previous three months,” said Tim Moore, Economics …

Data released by the US Department of Labor (DOL) on Thursday reported 1,427,000 initial claims for unemployment benefits in the United States in the week ending June 27, and that reading was slightly worse than the market forecast of 1,355,000. The reaction was mild in the market with the dollar …