Market Update

Oil prices rose on Friday and were on track to record new weekly gains, supported by strong demand for fuel in the United States, although new measures to combat Covid-19 in Shanghai and Beijing limited the gains. Brent crude rose 98 cents, or 0.8 percent, to $124.05 a barrel by …

The annual pace of inflation in the US rose to 8.6% in May according to the latest Consumer Price Index data released by the US Bureau of Labour Statistics on Friday. That was above the expected reading of 8.3%. MoM, the headline inflation rate was 1.0%, well above the expected …

The US Bureau of Labor Statistics will release the May Consumer Price Index (CPI) data on Friday, June 10 at 12:30 GMT and as we get closer to the release time, here are the forecasts by the economists and researchers of four major banks regarding the upcoming US inflation print. …

Turkey’s Treasury said on Friday that fighting inflation remains the top priority in its macroeconomic policies, after it, along with other state institutions, announced measures to support an economy suffering from high prices and a depreciating lira. The ministry announced that it would issue local bonds linked to government companies’ …

Japan’s Nikkei ended a 5-session winning streak on Friday, tracking Wall Street’s overnight decline as investors awaited key US inflation data that will guide the Fed’s monetary policy tightening path. The Nikkei index fell 1.49% to 27,824.29 points, falling below the key psychological level of 28000, and retreating from the …

The China Passenger Car Association (CPCA) said US electric car maker Tesla sold more than 32,000 Chinese-made cars in May, including 22,000 that were exported. The association added that the Tesla factory in Shanghai produced more than 33.5 thousand cars in May, an increase of 212% from April, and total …

The dollar fell Friday, June 10, as traders awaited the US inflation data that should provide indications of the path of monetary tightening at the Federal Reserve, and after the European Central announced the start of raising interest rates next month. The euro rose after its decline Thursday, June 9, …

Oil prices fell on Friday but remained close to three-month highs, as concerns about new anti-Covid-19 closures in Shanghai outweighed the impact of strong fuel demand in the United States, the world’s largest consumer. Brent crude futures for August delivery fell 77 cents, or 0.6 percent, to $122.30 a barrel …

European shares extended losses on Friday for the fourth consecutive session, ahead of the release of US inflation data that may prompt more speculations about the monetary policy path of the Federal Reserve at its meeting next week. Indices of all sectors fell, and the banking sector was the biggest …

Gold prices fell on Friday and headed for a weekly decline as Treasury yields rose while investors awaited monthly inflation data in the United States for indications of the future of the Federal Reserve’s monetary policy. And gold fell in spot transactions 0.2 percent to $ 1844.78 an ounce (an …