Industrial Production in the United States expanded by 0.84 on a monthly basis in June, the US Federal Reserve reported on Thursday. This reading followed May’s growth of 0.7% and came in slightly weaker than the market expectation for an increase of 0.7%.

The Federal Reserve Bank of Philadelphia reported on Thursday that the headline Manufacturing Activity Index of the Manufacturing Business Outlook Survey dropped to 21.9 in July from 30.7 in June. This reading came in weaker than the market expectation of 28.

There were 360,000 initial claims for unemployment benefits in the US during the week ending July 10, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 386,000 (revised from 373,000) and came in line with the market expectation.

In its latest monthly report, OPEC said that it expects the world oil demand to rise by 3.28 million barrels per day to 99.6 million barrels per day in 2022, per Reuters. “World oil demand in 2022 to reach comparable pre-pandemic levels.”“OPEC sticks to forecast 2021 world oil demand will …

Gold prices extended gains to hit a month high on Thursday, July 15th, after US Federal Reserve Chairman Jerome Powell calmed concerns about an early easing of monetary support, sending the dollar and US Treasury yields down. Spot gold was up 0.3% at $1,831.70 an ounce, after hitting its highest …

Goldman Sachs expected that an agreement between Saudi Arabia and the UAE regarding oil supplies would be a catalyst for a rise in prices in the coming months, as the American investment bank kept its Brent price forecast in the summer at $80 a barrel. An OPEC + source told …

The euro moved away from its lowest level in more than three and a half months against the dollar on Thursday, July 15th after cautious comments from the US Federal Reserve chief, which limited the recent rise in Treasury yields. US Federal Reserve Chairman Jerome Powell said in testimony before …

The yield on the benchmark 10-year Treasury remained around 1.3% in mid-July, still at the weakest level since February, down from 1.45% hit earlier during the month as investors digest the Fed’s cautious comments. Fed Chair Powell said further significant progress toward full employment and price stability remains elusive. He …

The movements of the German DAX index witnessed a bearish tendency, recording its lowest level during the previous trading session 15698. On the technical side today, there is a conflict between the negativity of the simple moving averages, the positive RSI attempts, and the stability of the intraday trading above …

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