Oil prices declined on Friday, but settled nearly unchanged for the week, in the absence of major economic data and the continuing uncertainty regarding the recovery of both the demand for crude oil and the global economy at large. Earlier today, data by Baker Hughes showed that the number of …

Gold prices settled higher on Friday by around $10, recording small weekly gains but stretching its upward trend for the sixth consecutive week. Today’s rise in the yellow metal’s prices were supported by the decline of the US Dollar. The price for Gold futures for August delivery increased by $9.70, …

European stocks closed Friday on small gains, with anticipation for the results of the European Union’s (EU) summit, which is set to discuss the economic stimulus package to help the bloc’s troubled economies due to the COVID-19 crisis. The pan-European Stoxx 600 index increased by 0.15% to settle at 372.70, …

The USD/CAD pair has stabilized on Friday, with the Canadian Dollar (CAD) supported by the increase in wholesale sales, while the US Dollar (USD) is supported by the rise in housing starts, despite a retreat in the consumer sentiment. During today’s trade, the pair has reached a high of 1.35892 …

The University Of Michigan Survey Of Consumers showed that the consumer sentiment index declined in the first half of July due to the widespread resurgence of the coronavirus disease (COVID-19). After the index increased in June, its reading was reversed, leaving the sentiment index in early July insignificantly above the …

Wholesale sales in Canada increased over the month of May by 5.7% to $52.6 billion, data by Statistics Canada showed on Friday. This comes after wholesales sales fell during April, due to the outbreak of the coronavirus disease (COVID-19), by 21.4%. However, May’s reading missed market expectations which suggested an …

The consumer price index (CPI) in the Eurozone increased during June by 0.3%, as shown by data from Eurostat. The rise in inflation rate to 0.3%, comes after it neared a four-year low of 0.1% in May. The European Central Bank (ECB) continues to target an inflation rate in the …

The President of the Federal Reserve Bank of New York, John Williams, said that the Fed’s emergency lending have helped ease credit markets disrupted by the COVID-19 pandemic, Reuters reported. “The scale and reach of the response is an indication of the gravity and unique nature of the situation we …

The United States Federal Reserve should not raise interest rates until inflation reaches the 2% target, President of the Federal Reserve Bank of Chicago, Charles Evans, said on Thursday, as cited by Reuters. “I am hard pressed to think of reasons why we would need to move away from accommodative …

Oil prices declined on Thursday due to negative economic data, which also pushed stock markets down. The OPEC+ move to raise output, by limiting the production cuts to 7.7 million barrels per day (bpd) from August 1, which was announced yesterday, is not expected to disrupt the market, as demand …