European stocks fell on Wednesday, May 19, tracking the fall in Wall Street as investors grew concerned about mounting inflationary pressures, which increases the chances of an early tightening of monetary policy. The European Stoxx600 index fell 1.1%, to trade below its all-time high of less than 2%. Eurozone stocks …
Read More »Gold Heading Again to a 4-Month High Ahead of The US Federal Reserve Meeting Minutes
Gold prices rose on Wednesday, May 19, hovering near their highest levels in four months, supported by the dollar’s decline, ahead of the release of the minutes of the latest US Federal Reserve policy meeting, which is expected to shed more light on policymakers ’views on inflation. Spot Prices rose …
Read More »Japan Shares Closed Lower as Sentiment Weighed by the Pandemic Restrictions
Japanese stocks closed lower on Wednesday, tracking down on Wall Street last night, while stocks of companies linked to the economic cycle fell, as investor sentiment was affected by fears stemming from the country’s economic downturn as a result of the pandemic. The Nikkei index fell 1.28% to close at …
Read More »UK annualized CPI Beats Estimates With 1.5% in April,
The UK Consumer Prices Index (CPI) 12-month rate came in at +1.5% in April when compared to +0.7% booked in March while beating expectations of a +1.4% record, the UK Office for National Statistics (ONS) reported on Wednesday.
Read More »Bitcoin Drops Below $40,000
Bitcoin continued to fall in a continuous wave of volatility for a week, retreating below the $40,000 barrier, as news of further restrictions on cryptocurrency transactions in China exacerbated previous concerns raised by tweets from Tesla President Elon Musk. Bitcoin fell, about 8%, to up to $ 38,700, to be …
Read More »Oil Prices Falling on High Rate of Covid-19 Cases in Asia And Inflation Concerns
Oil prices fell for the second consecutive session on Wednesday, May 19, due to renewed demand concerns with the rise in cases of Coronavirus in Asia and fears of high inflation, which may push the US Federal Reserve to raise interest rates, which may limit economic growth. Brent crude futures …
Read More »UK Inflation Rose to 1.5% in April From 0.7% in March
Official data showed on Wednesday that consumer price inflation in Britain rose to 1.5% in April from 0.7% in March. Economists had expected, in a Reuters poll, an increase in inflation to 1.4%.
Read More »European Stocks Recorded New Highs
European stocks made new highs after the pandemic, and cyclical heavy national indices benefited from the gradual shift in global investor preferences for value overgrowth. The German DAX also hit an all-time high as the country’s Constitutional Court effectively drew a line under the euro critics’ attempts to halt the …
Read More »US: Housing Starts Decline in April
Housing Starts in the US declined by 9.5% on a monthly basis in April following March’s sharp increase of 19.8% (revised from 19.4%), the data published jointly by the US Census Bureau and the US Department of Housing and Urban Development showed on Tuesday. Further details of the publication revealed that …
Read More »Gold Rallied After US Housing Data
The price of gold rose today after the less-than-expected home building permits data. Homebuilding permits decreased to 1,760 million, compared to an expected 1,770 million. Housing Starts fell 9.5% in April. Gold is receiving from the increasing US dollar index its weakness, in light of weak US data, and expectations …
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