market report

"A crisis of deep human suffering is in plain sight, and there's no time to waste," The US president-elect Joe Biden said. US President-elect Joe Biden unveiled his $1.9 trillion stimulus plan Thursday night. He also budgets $50 billion for Covid testing and $20 billion to speed coronavirus...

European stocks trading steady on Thursday ahead of European Central Bank Policy Meeting Minutes. On Wednesday, European Central Bank council member Francois Villeroy de Galhau said the ECB will keep an easy stance for as long as needed. EQUITIES US stock futures trading higher on Thursday as...

US dollar retreated back to below the psychological 90 level on Wednesday and the Index struggling to find the upside momentum. During the last week, the greenback recovered from nearly three-year low and closed higher. While considering the recent downside move the USD may find again strong...

US House Democrats Monday began an attempt to remove Trump from office, the Democrats want the vice president, Mike Pence, to invoke the 25th Amendment and remove Donald Trump from office. The impeachment escalated after he incited riots by his supporters on Capitol Hill last week. Trump’s term...

Japan, Russia, and Mexico detected its first case of the new coronavirus strain, which was first discovered in the United Kingdom (UK) last month. The new and more contagious UK variant can be up to 70 per cent more transmissible than other SARS-CoV-2 variants. Meanwhile, the Japan government...

The US nonfarm payrolls report is the highlight of today’s economic calendar. US Bureau of Labor Statistics will release the NFP at 13:30 GMT. The market participants are expecting 71k jobs added in December and the unemployment rate is expected to rise by 0.1% to 6.8%. EQUITIES Wall Street...

On Wednesday, the FED released the December meeting minutes, the minutes showed all FOMC members felt the current pace of purchases was appropriate. While some members ready to expand the bank's bond-buying scheme and others willing to consider tapering it down. The FED committed to using its...

The Euro broke further above the psychological level of 1.2300 and climbed to a fresh session high of 1.2340 on Wednesday. The recent bullish move lifted by the weaker dollar and better-than-expected economic data from Eurozone and Germany. EQUITIES On Tuesday, Wall Street ended slightly...

The UK announced the third national lockdown which is expected to last until mid-February and the lockdown will become law in the early hours of Wednesday. The UK reported 59,000 new cases on Monday - the seventh day in a row it has recorded more than 50,000 cases. Scottish First Minister Nicola...

Bitcoin (BTC) hits a new all-time high of $34000 over the weekend. The cryptocurrency rose more than 300% in 2020 and rallied by 50% in December alone. Bitcoin has more than tripled its value since 2020. EQUITIES Global stocks jumped higher on the first trading day of the year. Meanwhile...

Today the traders and investors remained cautious of FOMC interest rate decision and the Fed Chair Jerome Powell press conference. The central bank scheduled to issue its policy statement at 19.00 GMT. The Fed is expected to leave interest rates unchanged at the end of a two-day meeting...

The number of coronavirus-related deaths in the United States crossed 300,000, the highest figures in the world. On the positive side, On Monday, the first dose of the Pfizer vaccine was administered in New York City after federal regulators gave emergency approval. Worldwide coronavirus deaths...

After the phenomenal listing of US food-delivery firm DoorDash. On Thursday, the home-rental company Airbnb made a spectacular debut on NASDAQ under the symbol ABNB. The $ABNB surged from its IPO price of $68 to closing of $144.71 on Thursday, up by 113% from the offer price. The company's...

Today’s session in Europe will see most its attention turns toward important ECB Monetary Policy Statement which is set to be released at 12:45 GMT. Along with this release will see the ECB president Christine Lagarde Conference 45-minutes after at 13:30. During the last meeting, the ECB last...

The UK started vaccinating its population against coronavirus on Tuesday, becoming the first country to start distributing the Pfizer-BioNTech vaccine after regulators approved its use last week. Tuesday was declared “V-Day” as the United Kingdom launched its COVID-19 vaccination program. The...

Gold price climbed to fresh weekly highs of $1870 on Tuesday lifted by optimism over a new US coronavirus fiscal relief bill. On the other hand, Japanese Prime Minister Yoshihide Suga announced a fresh $708 billion economic stimulus package on Tuesday. EQUITIES Asian shares traded lower as...

The British pound plunged on Monday after EU chief negotiator Michel Barnier told national envoys in Brussels that he was “rather downbeat as to the prospects of agreement” while Irish Prime Minister Micheal Martin said on Sunday the chances of a deal were just 50-50. On the other hand, the Sun...

The U.S. non-farm payrolls report is one of the most important data scheduled for release later today. The consensus is for a decrease of 469k non-farm payroll jobs, and for the unemployment rate to decrease to 6.8%. EQUITIES Global shares and US futures trading higher boosted by the positive...

The British pound drops sharply against the EURO and the Australian dollar. Meanwhile, the Pound recovered from the early session losses against the US dollar. Overall, the momentum remains bearish throughout this week due to the post - Brexit uncertainty. On the other hand, UK shares surged for...

EURO climbed to the highest level in two and a half years on Wednesday supported by the weaker dollar. The US dollar struggling to find an upside momentum as the risk sentiment in global markets improves over-optimism related to vaccine developments. EQUITIES Asian shares traded higher on...