Market Update

The US Bureau of Labor Statistics will release the April Consumer Price Index (CPI) data on Wednesday, May 11 at 12:30 GMT and as we get closer to the release time, here are the forecasts by the economists and researchers of 4 major banks regarding the upcoming US inflation print. …

Oil prices rose on Wednesday after falling nearly 10 percent in the previous two sessions, buoyed by supply concerns, as the European Union works to rally support for a Russian oil embargo and as Russian gas supplies to Europe halted through a major transit point in Ukraine. The European Union …

European shares rose on Wednesday, extending gains after hitting a two-month low this week, as investors awaited US consumer price data for indications of rising inflation. The pan-European Stoxx 600 index rose 0.4 percent by 0715 GMT, and the real estate sector was at the forefront of the emerging sectors …

Japan’s Nikkei index rose at the close on Wednesday as investors flocked to stocks of companies with strong expectations, but gains were limited as US inflation data was awaited later in the day. The Nikkei rose 0.18 percent to close at 26,213.64 points, after declining earlier in the session. Investors …

Germany and the US will publish their latest inflation figures on Wednesday. German CPI is expected to be confirmed at 7.4% YoY, while the US reading is foreseen at 8.1%. An in-line or lower than anticipated reading may boost optimism, to the benefit of equities and to the detriment of …

After twenty years of failed attempts, the “No Oil Producing and Exporting Cartels” Act, NOPEC, was passed by Senate panel on Thursday in a 17:4 vote. Today, there are many things “influencing” the market purposefully, including releases from strategic petroleum reserves, which are explicitly designed to influence prices in a …

The US GDP will increase by 2.6% this year according to Atlanta Fed President Raphael Bostic. The Fed’s policymaker also mentioned that the economy is strong, and demand is high, adding that Fed policy must be robust, vigilant, and adaptive.Following the comments, the EUR/USD pair is defensive around 1.0530, keeping …

The American WTI crude oil prices dropped to a fortnight low after weekly private oil inventory data had been released on Tuesday, before bouncing around $98.00 during the initial Asian session on Wednesday. The energy benchmark’s latest rebound to $98.40, however, remains doubtful amid sour market sentiment and uncertainty just …

The USD/CAD pair has renewed its fresh high in the year at 1.3052. the pair is attempting to balance above the 1.3000 psychological resistance. USD/CAD also managed to continue its winning streak by positive performance on Tuesday.USD/CAD is likely to further advance amid uncertainty over the release of the US …

US President Joe Biden declared that fighting inflation is his top priority adding that he understands Americans’ frustration over high prices.The Washington Post reported that ”Biden used a speech from the White House to address an issue that has become a major political liability for him. At the same time, …