The dollar recovered its losses on Monday, after falling after data showed that jobs in the United States recorded the lowest growth in two and a half years, while disappointing inflation figures in China weighed on the yuan and the Australian and New Zealand dollars. Figures released on Friday showed …
Read More »Financial Markets’ Weekly Recap, July 3-6
Job growth in the United States slowed more than expected in June after a sharp increase in the previous month, but the labor market shortage persisted, with the unemployment rate falling from a seven-month high and relatively large wage increases continuing. On Friday, the Labor Department said in its well-watched …
Read More »Noor Capital | Interview with Mohammed Hashad on Dubai TV – July 07, 2023
Dubai TV interviewed Mohammed Hashad, Director of Research and Development at Noor Capital and member of the US Association of Technical Analysts, to comment on the US Non-Farm Payrolls report, which is a monthly report that the markets are closely awaiting. Asked whether it is expected to witness a decline …
Read More »Saudi Aramco announces an increase in the official selling price of oil
The Kingdom of Saudi Arabia announced on Friday that it will raise the selling prices of its crude oil to most of its customers in Asia during the month of August, for the second month in a row, after announcing at the beginning of this week the extension of the …
Read More »NFP Preview: Will markets’ optimism on key data be right?
The majority of economists tend to be more optimistic when it comes to the number of jobs added in the US last month. However, that could be an overcorrection due to continually underestimating the labour market’s strength this year. However, there are other elements that make forecasting Friday’s release a …
Read More »After 30 million sign-ups, could Meta’s Threads be Twitter killer?
Meta launched its brand new app; Threads and reaped 30 million sign-ups as of Thursday morning. The app is available in 100 countries and over 30 languages via Apple’s iOS and Android. Threads is the latest platform launched in recent months to unseat Twitter as the go-to app for real-time, …
Read More »US Dollar enjoys firmer stance on hawkish Fed bets as China eyed
The US Dollar Index teeters around weekly top after rising in the last three consecutive days. FOMC Minutes confirm July rate hike even as softer US data exists.Traders seek solace in US Dollar as yields portray recession fears, China-linked headlines appear grim. US ISM Services PMI, ADP Employment Change eyed, …
Read More »US equities retreat ahead of Fed minutes
Prior to the release of the Federal Reserve’s minutes from its June meeting, Wall Street’s major indexes declined on Wednesday as dismal economic data from the US and China as well as escalating Sino-US tensions dampened market mood. According to a Commerce Department study, US industrial orders for May 2023 …
Read More »Fed meeting minutes to offer clues on future rate hike appetite
The minutes of the Federal Reserve’s June policy meeting, which will be issued on Wednesday, are expected to indicate an intense discussion among officials who, on balance, look inclined to favour stronger action to reduce inflation. The meeting minutes, which are scheduled at 2 p.m. EDT (1800 GMT), will arrive …
Read More »Oil prices surge 2% as market weighs supply cuts against economic outlook
Tuesday saw a 2% increase in oil prices as traders weighed August production curbs by major producers Saudi Arabia and Russia against a gloomy forecast for the world economy. On Monday, Saudi Arabia announced that it would continue to reduce its voluntary output by 1 million barrels per day (bpd) …
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