Market News

On Monday oil prices dropped more than 1% amid fears that Chinese crude oil consumption is slowing and that OPEC may increase global supply following the meeting on Thursday.

Federal Reserve Chair Jerome Powell pushed back on the suggestions that loose monetary policy risked unleashing inflation and financial risks amid the emerging economic boom.

Bitcoin reached a new record high extending the sharp rally that was mostly fuelled by big investors who began to take digital assets seriously.

Oil prices on Monday rose by 2% their highest in over a year, with Brent reaching past $60 a barrel and boosted by supply cuts among key producers and the hopes of further US economic stimulus.

A little over a year after leaving the presidency of the European Central Bank, Mario Draghi was asked by the Italian head of state on Wednesday to resolve the political chaos in Rome and form the country’s 67th post-war government.

Italian Prime Minister Giuseppe Conte handed in his resignation to the head of state on Tuesday. The president’s office said, this has opened the way for formal consultations on how to overcome the political crisis.

All eyes were on Biden’s inauguration as he was sworn in as the 46th U.S. President on Wednesday. Biden signed 15 executive actions shortly after being sworn on Wednesday, undoing policies that were put in place by Donald Trump.

Incoming President Joe Biden proposed $1.9 trillion into the economy to support jobs and spending which is needed to avoid long-term damage from the COVID-19 pandemic.

Democrats on Wednesday completed a sweep of the two US Senate seats in the runoff elections in the state of Georgia, giving the party control of the chamber and boosting the prospects for President-elect Joe Biden’s policy goals when he takes office in January.

On Monday US Congress approved an $892 billion coronavirus aid package after days of negotiations. President Donald Trump is expected to sign it into law.

Britain and the EU have just over two weeks left to negotiate a deal covering nearly $1 trillion in annual trade before Britain loses the zero-tariff zero-quota access to the block’s single market on 31 December.

The ECB engaged into more stimulus measures on Thursday to support the economy. It expanded its debt purchase scheme and agreed to provide banks with even more ultra-cheap liquidity as long they keep passing cash to companies.