Economic Report

The movement of the US dollar stabilized against other major currencies, during trading at the end of the week on Friday. Thus, the DXY dollar index is trading above 92.00 points for the second week in a row, with the current week ending slightly lower compared to last week. The …

A recent report has warned against the rising number of Coronavirus (COVID-19) cases and fatalities, despite the improvement that is mostly attributed to the wide rollout of vaccines. Experts in the Yale School of Public Health and the Commonwealth Fund believe that without a vaccination program, there would have been …

Minutes of the Federal Open Market Committee (FOMC) June meeting showed participants focused on data showing lower employment growth and higher inflation readings than had been expected. The median expectation is that the Federal Reserve will begin tapering its asset purchases in the first quarter (Q1) of 2022, before ending …

According to Russian news agency TASS, OPEC+ producers will not be holding a meeting this week to break the impasse in the output strategy. “This week will be difficult. Negotiations are in progress, and there are no signs yet that the meeting will take place this week. The problem remains …

The euro traded near a three-month low against the dollar on Wednesday after German data raised doubts about the strength of the economic recovery, while the US currency awaited the minutes of the Federal Reserve’s latest meeting. The single European currency was trading at $1.1820, after touching a three-month low …

The New York Stock Exchange (NYSE) began the week with a mixed performance, following a long weekend at Wall Street due to the Independence Day holiday. While the Dow and the S&P indices finished lower, th Nasdaq achieved modest gains to close at a new record high. The Dow Jones …

Saudi Arabia decided to raise the official selling prices for the month of August for all oil crudes designated to be sold to Asia. Saudi Arabia, the world’s largest oil exporter, set the August official selling price for its Arab Light crude at $2.70 a barrel, above the Oman/Dubai average …

After talks that lasted for two days, the OPEC+ meetings ended without an agreement, as the group’s ministers canceled talks related to production after a dispute that erupted last week when the UAE objected to a proposed extension of production restrictions for an additional eight months, but in return it …

Oil prices surged on Monday, for the fifth consecutive session, with markets anticipating the outcomes of the ongoing OPEC+ negotiations regarding output cuts. Brent crude futures for September delivery gained 99 cents, or 1.30%, to close at $77.16 per barrel, to log a new highest closing level since October 29, …

Many markets around the globe are lifting lockdowns and preventive measures against the coronavirus (COVID-19), but the global pandemic continues to raise uncertainty after the recent increase in the number of new cases infected with the Delta variant. Some vaccines are reportedly effective against the variant, including J&J and Moderna, …