Oil prices rose more than 4% on Tuesday as OPEC+ neared a compromise to hold crude production steady in February, according to Reuters. The prices were also supported by tensions around OPEC member Iran's seizure of a South Korean vessel claiming the latter owed it $7 billion. Brent crude futures rose $2.15, or 4.2%, to $53.24 a barrel by 11:10 a.m. EST while the U.S. … [Read more...] about Oil Rises 4% on OPEC+ Output Talks, Iran Tensions
Forex News
U.S. Records 3.2% Rises in Manufacturing PMI in December
U.S. December Manufacturing PMI registered 60.7%, up 3.2% from November reading of 57.5%, according to press release. The figure reflects an expansion in the overall economy for eight months in a row, offsetting contractions in March, April, and May. The New Orders Index was 67.9%, up 2.8% from November’s reading of 65.1%The Production Index was 64.8%, up 4% from … [Read more...] about U.S. Records 3.2% Rises in Manufacturing PMI in December
Danes Will Get 20-Year 0% Mortgages
Denmark is offering homeowners 20-year loans at a fixed interest rate of zero, according to Bloomberg. Customers at the Danish home-finance unit of Nordea Bank Abo can now get mortgages that carry a lower coupon than benchmark U.S 10-year Treasuries. In 2012, Denmark drove their main rate below zero to defend the krone's peg to the euro, and since then, homeowners have … [Read more...] about Danes Will Get 20-Year 0% Mortgages
Pfizer Offers South Africa Discounted COVID-19 Vaccines
Pfizer and BioNTech SE offered to supply South Africa with COVID-19 vaccine at a discounted $10 a dose, according to Bloomberg. The price was worked out according to South Africa’s classification as a middle-income country. The price offered to South Africa is half of what the drugmakers are charging in the U.S. despite the president’s office terming it prohibitive.The … [Read more...] about Pfizer Offers South Africa Discounted COVID-19 Vaccines
Germany to Extend Coronavirus Curbs Despite Criticism over Vaccine Rollout
Germany officials will hold preliminary talks on Monday on extending stricter lockdown measures beyond January 10, according to Bloomberg. The lockdown measures include closing schools and non-essential stores even as the government faces criticism over the vaccination program's delays. Reports have held that authorities have agreed to prolong curbs until January 31The … [Read more...] about Germany to Extend Coronavirus Curbs Despite Criticism over Vaccine Rollout
