The US Census Bureau revealed on Monday that Retail Sales in the US experienced a 0.7% increase in March, reaching $709.6 billion. This figure follows a revised 0.9% rise (originally reported as 0.6%) in January and surpassed market forecasts of 0.3%. Excluding automobile sales, Retail Sales surged by 1.1% during …
Read More »European stocks start the week cautiously amid geopolitical tensions
European stocks saw gains on Monday, with defense shares leading the charge, as investors weighed the broader implications of escalating tensions in the Middle East. Optimism surrounding potential interest rate cuts also contributed to the improved market sentiment. The European STOXX 600 index edged up by 0.1 percent, with the …
Read More »Oil declines after an Iranian attack on Israel
Oil prices dropped as Asian markets opened on Monday, as market participants reduced risk premiums following an Iranian attack on Israel late Saturday, which the Israeli government stated caused limited damage. By 1256 GMT, Brent crude futures for June delivery declined by 24 cents to $90.21 a barrel, while West …
Read More »Nikkei index declines on the back of the Iranian attack and the selling on Wall Street
Japan’s Nikkei blue-chip index fell on Monday as investors rushed to sell stocks after escalating violence in the Middle East and a sell-off on Wall Street at the end of the week. Shares of the Japanese semiconductor sector followed their American counterparts in decline after a media report stated that …
Read More »Gold rises with increased demand due to tension in the Middle East
Gold prices climbed on Monday, lingering just below the previous session’s record high, driven by escalating tensions in the Middle East that bolstered demand for the precious metal as a safe haven. As of 0056 GMT, spot gold rose by 0.3 percent to $2,350.59 per ounce, following its historic peak …
Read More »Financial Markets’ Weekly Recap
US Inflation Surges: CPI Hits 3.5% in March In the latest update from the US Bureau of Labor Statistics (BLS), inflation in the US, as gauged by the Consumer Price Index (CPI), demonstrated a notable uptick. March saw a year-on-year increase to 3.5%, up from February’s 3.2%, surpassing market forecasts …
Read More »Hawkish Fed bets Push US Dollar to Multi-Months Highs
The US dollar has surged to its highest level since early November due to a heated atmosphere for inflation data and rising US rates. This year, the Fed has indicated fewer opportunities for rate reduction, and hawkish wagers have increased, which is another factor supporting the currency. US Treasury yields …
Read More »Oil settles around $96 after rallying amid Middle East tensions
WTI crude recovered above $86 earlier on Friday after fluctuating around that mark all week. Even though the EIA predicts a poor forecast for oil demand, oil prices have increased by almost 1%. The US Dollar Index rose 0.72% to 106.015, marking a new five-month high. WTI finished at $94.975 …
Read More »ECB sticks to independent dovish stance despite hotter US inflation
Despite rising US inflation, the ECB maintains its independent dovish stance. ECB officials are reiterating their resolve to lower interest rates in June while downplaying worries about US inflation. This is the case even though the US Federal Reserve and the European Central Bank may have different monetary policies, as …
Read More »Canadian Dollar declines amid Fed easing expectations
The Canadian dollar has experienced a 1.23% retreat this week, marking its worst weekly performance in almost a year. The US Dollar is rallying, driven by higher US yields and the reassessment of the timing and size of the US Fed’s easing cycle. The Michigan Consumer Sentiment Index deteriorated beyond …
Read More »