Daily Economic Reports

The Bank of Canada is expected to maintain a 5% interest rate at its upcoming meeting, with a possible first rate cut in June. This approach will allow the Bank to monitor GDP figures and their impact on the interest rate’s outlook, as economic analysts believe the Canadian economy is …

As of this writing, Bitcoin is down 7.17% from its previous daily closing price of $68359, primarily due to profit-taking and risk aversion. However, as Bitcoin and Ethereum take centre stage in the market, altcoin season is picking up steam. The market is gaining further excitement and confidence right now, …

With Apple as well as other big names in the tech industry retreating, US stocks dipped on Tuesday, headed for another down session. The average number of equities that traded in the red was almost two thirds. Conversely, the only two companies able to defy the general trend were 3M …

US stocks closed lower on Monday as investors have shifted focus to the upcoming congressional testimony by Fed Chair Jerome Powell and the monthly NFP report that could put equity gains to a real test.The S&P 500 fell just below the flatline after ending Friday with its 16th weekly win …

Gold price trades near a two-month high as Fed rate-cut bets for June deepen. Weak US Manufacturing PMI data weighs heavily on the US Dollar. Fed Powell may provide fresh insights on the timing for rate cuts this week.Earlier on the day, gold price was hovering near a two-month high …

Oil prices remained relatively steady on Monday following the decision by the OPEC+ alliance to extend voluntary production cuts until the end of the second quarter, in line with market expectations. Brent crude futures edged down by 14 cents to $83.41 per barrel by 1035 GMT, after experiencing a 2.4 …

On Monday, the US dollar traded within a narrow range, facing pressure from declining Treasury bond yields as investors awaited key economic data for clues on the Federal Reserve’s potential interest rate cuts. Bitcoin surged to its highest levels in over two years, buoyed by significant inflows into cryptocurrency funds …

Oil prices increased on Monday following the decision by OPEC+ member countries to extend their voluntary production cuts by 2.2 million barrels per day for the second quarter of the year, aligning with market expectations. At 0134 GMT, Brent crude futures climbed by 28 cents, or 0.3 percent, reaching $83.83 …

US stocks experienced a surge in intraday records, with the S&P 500 and Nasdaq reaching new highs. The Nasdaq set a new intraday record, surpassing its November 2021 peak of 16,212.23. Technology stocks, particularly Nvidia and AMD, saw significant gains, with shares climbing 3.73% and 4.82% respectively. The Philadelphia semiconductor …

Introduction: Geopolitical Developments Impact Crude Prices Oil prices experienced a modest increase on Friday, with ongoing tensions in Gaza contributing to market fluctuations. The situation intensified following reports of fatalities among Palestinians waiting for aid, adding complexity to ceasefire negotiations. Brent Crude Futures: Slight Uptick Brent crude futures for May …