Oil And Gold Ignoring Health Situation Rose On Dollar’s Position – Stocks Register

Oil And Gold Ignoring Health Situation Rose On Dollar’s Position

On Tuesday, oil prices rose again, taking advantage of the weakened dollar, which overshadowed concerns in the United States and Europe over demand and the resurgence of the Covid-19. For the February futures market on Nymex, the price of U.S. light crude oil WTI rose 0.8 percent to $48 a barrel, while North Sea Brent advanced 0.5 percent to $51.09.

On Tuesday, gold crept up 0.1 percent to finish at $1,882.90 an ounce on the Comex futures market in February.

Markets in the United States were relieved on Monday by the final implementation of the current U.S. stimulus package of $892 billion, which provides for immediate aid of $600 to U.S. households, as well as unemployment insurance for approximately 14 million unemployed and assistance to SMEs (financing technical unemployment).

On December 22, Congress approved the bill and Donald Trump, who originally declined to sign it, ratified it on Sunday, requiring that direct aid to U.S. households be raised from $600 to $2,000. A request which the Democrats welcomed enthusiastically, but was blocked by the Republicans.

A bill raising assistance checks from $600 to $2,000 was approved on Monday by the House of Representatives, with a Democratic majority. Thanks to the contribution of 44 Republican votes, the two-thirds majority needed for this vote was obtained. But Tuesday, Senate Republican Majority Leader Mitch McConnell declined to hold a vote on the bill. He related two other sensitive topics with every Senate vote on the issue: defending internet companies from legal action and investigating alleged electoral irregularities.

Goldman Sachs on Monday, considering the approval of stimulus package, raised its forecast for the GDP growth in the United States. The analysts firm increased its previous forecast of 5.3 percent annual growth rate o GDP to 5.8 percent.

The home prices in the 20 of the U.S. cities also came to be encouraging as S&P/Case-Shiller Home Price index for October rose to 1.6 percent m/o/m which was 1.4 percent previously in September.

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