Oil prices declined on Thursday for the third consecutive session, with expectations that progress in talks between the United States and Iran regarding the nuclear deal might lead to lifting sanctions, thus increasing market supplies. Brent crude futures for July delivery fell by $1.55, or 2.3%, to finish at $65.11 …

The President of the United States, Joe Biden, is set to reveal his first detailed budget proposal on May 28, the White House announced on Wednesday. The new budget will be for the upcoming fiscal year starting next October. Biden took office last January, making this the first fiscal year …

The U.S. Dollar (USD) returned to the downward trend on Thursday, declining against most major currencies and erasing its short-lived gains following the release of the Federal Reserve April’s meeting minutes yesterday. Markets were relatively taken by surprise when the minutes showed that although members of the Federal Open Market …

Gold prices rose on Thursday, recovering from a brief earlier decline, extending its rising trend to the sixth consecutive session. This is the longest rising streak for the yellow metal contracts since the beginning of the year. Gold is maintaining its gains despite the improvement in risk sentiment, as evident …

European stocks finished Thursday on a higher note, supported by an improved risk appetite and investors seeking to purchase shares at relatively low prices, following the recent drop due to inflation fears. After recent selling pressures, the European stocks markets regained some ground in today’s session, with the pan-European STOXX …

The Federal Reserve Bank of Philadelphia’s business activity index declined to 31.5 this month from 50.2 in April, showing a steep decline in activity. The survey results, published on Thursday, indicated that factory activity plummeted this month, following its best increase in about 50 years last month. The employment index …

Industrial orders in the United Kingdom (UK) rose this month by the fastest pace since December 2017, data showed on Thursday. The industrial orders balance increased to 17 in May from -8 in April, according to the Confederation of British Industry (CBI). During the past three months, the total growth …

Japanese exports recorded in April its largest increase since 2010, increasing hopes for recovery from the impacts of the coronavirus pandemic, official data showed on Thursday. Last month, Japan’s exports grew by 38% on an annual basis, exceeding market expectations of a less than 31% increase, and more than double …

Producer prices in Germany surged in April by 5.2% on an annual basis, official data showed on Thursday. Recent supply disruptions are leading to rising inflation pressure, following a 3.7% increase in producer prices in March, according to the Federal Statistical Office of Germany. On a monthly basis, producer prices …

Applications for new claims of unemployment benefits in the United States declined below 500,000 last week, data showed on Thursday. The initial claims for state unemployment benefits decreased by 34,000 to a seasonally adjusted 444,000 for the week ended May 15, according to the U.S. Department of Labor. This marked …