Market News

Shares of video game retailer GameStop (NYSE: GME) extended the previous week’s gains and surged more than 10% on Monday. GameStop's share price will be in the spotlight this week as the company is set to announce its last quarter financial results on Wednesday.

Global equity markets and precious metals ended with notable gains last week despite a hawkish speech by Jerome Powell. Looking ahead, the global markets are expected to remain extra volatile the remaining week due to a busy economic calendar and all eyes remain on Friday’s US job report.

EUR/CAD retreats to 1.4870 after reaching a fresh 6-month high, but despite the short-term retreat, the currency pair managed to find decent support just ahead of the 1.4860 mark.

Precious metals started the new of trading on a bullish note while US stock futures opened mixed on Monday following the Thanksgiving break. The volatility is expected to remain high this week, based on a list of important data and events. The ISM manufacturing PMI and the Core Personal Consumption Expenditures (PCE) Price Index may be the most market-moving events on the calendar this week.

In the past few weeks, oil prices have been under intense selling pressure. However, we see that oil prices successfully bounced back from the 4-month lows ahead of a highly anticipated meeting of OPEC-producing countries.