European stocks rose on Tuesday as investors awaited more US bank earnings reports to gauge the health of the sector, and a stronger-than-expected economic recovery in China boosted sentiment. The pan-European STOXX 600 rose 0.2 percent after starting the week retreating from its highest level in a year, ending a …
Read More »Japan’s Nikkei closed higher for the eighth consecutive day
Japan’s Nikkei rose for the eighth straight session on Tuesday, supported by gains made by banks on positive US data, and a weaker yen boosted exporters. The Nikkei index rose 0.51% to close at 28,658.83 points, close to its highest level so far this year, in the longest streak of …
Read More »Gold rises with the decline of the dollar
Gold prices rose on Tuesday as the dollar weakened, as investors await more clues about the Federal Reserve’s interest rate path. Spot gold rose 0.2 percent to $2,001.09 an ounce by 0457 GMT. And US gold futures rose 0.2 percent to 2011.10 dollars. The dollar index fell 0.1%, making bullion …
Read More »Oil slips as recession fears loom over economic data
Oil prices moved lower on Monday as investors deliberated over a likely May interest rate hike by the U.S. Federal Reserve, which might hamper economic recovery hopes, despite Chinese GDP data was expected to augur well for demand growth. Brent crude futures were down 55 cents or 0.6% at $85.76 …
Read More »European stocks rise ahead of earnings announcements from more large US banks
European stocks rose on Monday as investors expected major US banks to continue reporting strong quarterly earnings this week, while also looking forward to the Federal Reserve ending its interest rate hike cycle. The European STOXX 600 index rose 0.3 percent after hitting its highest level in more than a …
Read More »Oil stabilized amid anticipation of Chinese GDP data
Oil prices stabilized on Monday, amid anticipation among investors for Chinese economic data, in search of signs of recovery in demand in the second-largest oil consumer in the world. Brent crude futures fell seven cents to $86.24 a barrel by 0746 GMT, and US West Texas Intermediate crude fell six …
Read More »Asian stocks flat, Chinese markets rise on recovery hopes
Most Asian stocks moved slightly on Monday amid hawkish comments from Federal Reserve officials, while Chinese markets outperformed as the People’s Bank maintained medium-term lending rates ahead of a swathe of data indicators. China’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes climbed nearly 0.8% each after the PBOC maintained …
Read More »Dollar rose with the increase in expectations of raising interest rates
The dollar rose on Monday and hit a one-month high against the yen after strong US retail sales and impressive earnings from Wall Street banks increased market expectations that the Federal Reserve will raise interest rates in May. Data released on Friday showed that so-called core retail sales, which exclude …
Read More »Financial Markets’ Weekly Recap, April 10-14
On Friday, the dollar headed for the most extended period of weekly losses in nearly three years as traders reinforced expectations that the Federal Reserve is about to end the cycle of raising interest rates after indications that inflation may subside. Thursday’s data showed US wholesale prices, which are measured …
Read More »US Retail Sales decline by 1% in March
According to figures released by the US Census Bureau on Friday, retail sales in the US fell by 1% on a monthly basis to $691.7 billion in March. This report was worse than the market consensus of a decline of 0.4% and followed February’s contraction of 0.2% (updated from -0.4%). …
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