Market News

Early last week Ever Given, a 400-meter-long vessel leased by Evergreen Line had become jammed diagonally across the southern section of the Suez Canal, due to high winds.

Eurozone business activity unexpectedly grew this month according to a preliminary survey despite most of Europe is suffering from a third wave of coronavirus infections and renewed lockdown measures.

Federal Reserve officials wrapped up a two-day policy meeting on Wednesday. The Federal Reserve repeated its pledge to keep its target interest rate near zero for years to come after projecting a rapid jump in U.S. economic growth and inflation this year, as the COVID-19 crisis lessens.

In a meeting on Thursday the European Central Bank said that it was ready to accelerate money-printing to keep a lid on eurozone borrowing costs.

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.