Market Update

A report from the OPEC + group seen by Reuters showed that the production of the alliance of oil producers was less than production targets in March by 1.45 million barrels per day, with the beginning of a decline in Russia’s production after the sanctions imposed by the West. The …

Gold prices fell on Tuesday as the dollar rose on expectations that prices may in the near term retest the resilience of the yellow metal at the key level of $2000 an ounce. Spot gold fell 0.2 percent to 1975.36 dollars an ounce, and US gold futures fell 0.4 percent …

Japan’s Nikkei rose on Tuesday, but was unable to close above the psychologically important 27,000 point level, as concerns over the upcoming earnings season, a weaker yen and the outlook for US monetary policy limited its gains. The Nikkei closed up 0.69 percent to 26,985.09 points, after it swung in …

Major European markets were closed on Monday with generally quite subdued trading conditions for most of the day. Flows were picking up somewhat during US trade. Nonetheless, the US dollar traded firmly across the board against its major G10 counterparts and the Dollar Index (DXY) hit its highest level since …

US inflation is “far too high,” according to Fed member James Bullard’s statements on Monday. Bullard offered further insight on the outlook for Fed’s monetary policy. Bullard is one of the bank’s most hawkish and has called for interest rates to reach 3.0% this year. Bullard repeated his case for …

US stocks ended little changed in remarkably thin trading Monday and Treasuries ticked lower at the long-end of the curve as investors focused on corporate results and prospects for faster policy tightening by the US central bank.The S&P 500 closed down less than 0.1%, after swinging between narrow gains and …

Major European markets has a day off, Monday, making for generally quite subdued trading conditions for most of the day, with flows picking up somewhat. The US dollar traded firmly across the board against its major G10 counterparts and the Dollar Index hit its highest level since April 2020 in …

Oil prices are on the front foot on Monday amid heightened geopolitical tensions and OPEC supply concerns. WTI is heading towards $110 again, up over $16 versus last week’s lows, and eyeing recent highs around $116.Oil prices put in a strong rally on Monday as concerns regarding an escalation of …

The Euro begins the week with negative performance, down some 0.28%. The Ukraine-Russia conflict escalates amid the lack of talks at the Foreign Ministry level. The EUR/USD pair remains downward pressured, and a daily close below 1.0806 would exacerbate a move towards 1.0636.The EUR/USD extends its losses in the North …

World Bank President David Malpass said on Monday that the institution is reducing its forecast for global growth in 2022 to 3.2% from 4.1$ previously, reported Reuters. Malpass noted that the bank has committed $11B for the purchase and deployment of vaccines in the current fiscal year, with total Covid-19 …