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Gold prices rose on Wednesday, after data showed an increase in the inflation rate in the United States and amid anticipation for what could be the second impeachment of President Donald Trump by the House of Representatives. Gold futures for February delivery gained $10.70, or 0.6%, and closed at $1,854.90 …
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January, 2021
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13 January 2021 11:13 pm
U.S. Records $144 B Budget Deficit in December
The United States public budget deficit registered $144 billion during December of 2020, according to data by the U.S. Department of the Treasury released on Wednesday. The budget deficit compared with about $13 billion for the same period of 2019. It is worth noting that the surge in the deficit …
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13 January 2021 10:00 pm
European Stocks Close Wednesday Higher
European stocks rose on Wednesday, supported by the rollout of Coronavirus vaccines and the effectiveness of preventive measurements against the pandemic’s new wave. The pan-European STOXX 600 index finished higher by 0.17%. The French index CAC40 closed higher by 0.21%, while the German benchmark index DAX rise by 0.11%. Meanwhile, …
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13 January 2021 8:29 pm
Dollar Returns to Showing Rebound Signs
The U.S. Dollar (USD) is rising on Wednesday, after closing Tuesday on a lower note, and following the release of the consumer price index update. The Dollar Index (DXY), which measures the greenback’s performance against a basket of six international rivals, is up by 0.31% at 90.37, noting that it …
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13 January 2021 8:25 pm
U.S. House Moving Forward with Impeaching Trump a Second Time
The United States House of Representatives is going through on Wednesday with impeachment procedures against President Donald Trump. This would be the first time in U.S. history that a president is impeached twice. It has been reported that some Republicans in the House are set to vote in favor of …
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13 January 2021 7:41 pm
U.S. Oil Inventories Down 3.2 M Barrels in Week: EIA
Crude oil inventories in the United States decreased by 3.2 million barrels last week, according to the U.S. Energy Information Administration’s (EIA) weekly report released on Wednesday.
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13 January 2021 7:38 pm
U.S. Consumer Prices Rise 0.4% in December
Consumer prices in the United States rose in December on the back of a surge in gasoline prices, data showed on Wednesday. The official reading of the consumer price index (CPI) showed an increase of 0.4% in December, following a 0.2% rise in November, according to data by the U.S. …
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13 January 2021 4:24 pm
Lagard: The Eurozone Economy is Still Recovering This Year, Provided That The Lockdown Measures Are Lifted
European Central Bank President Christine Lagarde said that the eurozone economy is still on the verge of recovery this year, provided that the general isolation measures taken to confront the Corona pandemic are lifted at the end of March and the vaccines are distributed. Lagarde adhered to the expectations of …
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13 January 2021 3:42 pm
EU: Euro Area Industrial Production Expands by 2.5% in November vs. 0.2% Expected
Industrial Production in the euro area expanded by 2.5% on a monthly basis in November, the data published by the Eurostat showed on Wednesday. This reading followed October’s increase of 2.3% and beat the market expectation of 0.2% by a wide margin. Industrial Production contracted by 0.6% Y-o-Y in November …
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13 January 2021 3:29 pm
Currencies Overview: Dollar Recovery Recedeas US Bond Yields Decline
The dollar suffered losses on Wednesday, as declining US yields weakened the momentum generated by its recent recovery and investors cautiously resumed bets that it could continue to slide. Against the euro, the dollar recorded its biggest daily decline in more than a month and declined more than 1% against …
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13 January 2021 2:46 pm
European Stocks Poorly Performing, And Denmark’s Orsted Down Due to a Profit Warning
European stocks were largely unchanged on Wednesday as the utility sector was hit by a profit warning from Danish wind farm developer Orsted, while French grocery store Carrefour jumped after merger talks. Carrefour gained 10.6% after Canadian store operator Element Couche-Tard said it had contacted Europe’s largest retailer to discuss …
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13 January 2021 2:02 pm
Chinese Auto Sales on Track to Recover in 2021
Auto sales in China fell for the third year in a row in 2020 but increased year on year for the ninth consecutive month in December as Beijing continues to lead the global auto sector’s recovery from the COVID-19 pandemic. Chinese auto sales fell 1.9% to 25.3 million cars last …
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13 January 2021 1:37 pm
France’s Economy Contracted 4% in Q4
The French central bank said today, Wednesday, that the country’s economy has likely contracted 4% in the last quarter of last year compared to the previous three months, although activity increased in December after the lifting of general isolation measures imposed to combat the spread of the Coronavirus. In light …
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