Market Update

European shares fell sharply Thursday, May 12th, as global markets digested the latest inflation reading from the United States, and this reading raised fears that there is a tendency for prices to rise significantly in the future. The pan-European Stoxx 600 Index is down 2.2% in early trading, with all …

Oil prices fell more than 1% on Thursday in a volatile week, as economic concerns and fears of a recession weighed negatively on global financial markets, outweighing concerns about supplies and tension in Europe. Brent crude futures fell $1.25, or 1.2 percent, to $106.26 a barrel by 0303 GMT. US …

Gold resumed its rally on Wednesday after a brief decline due to the release of US inflation data, with the dollar falling after data showing a slight slowdown in US consumer price growth. Spot gold rose 0.8% to $1,852.65 an ounce, and US gold futures rose 0.7% to settle at …

The US dollar closed with gains against most major rival currencies, although price action was choppy across the market. Economic DataThe US dollar rallied after the release of CPI data at 8.3%, higher than the estimates. The monthly figure was up 0.3% against the 0.2% expected. Finally, the annual core …

The West Texas Intermediate (WTI) for June delivery has added 1.51 US dollars to briefly touch USD 109.77 per barrel on the New York Mercantile Exchange, later in the day the American crude oil settled at USD 105.71. Oil closed with strong gains on Wednesday, reversing a prior-session selloff after …

US President Joe Biden on Wednesday criticized Republicans’ plan to combat US hot inflation, taking his speech as an opportunity to slam his opposition. Biden accused his predecessor of being responsible for the balance sheet deficit increase every single year Trump was president. “Right now, the majority of our Republican …

The USD/JPY pair is struggling around 130.00 but is likely to accelerate as the higher than expected CPI data boosts the bets of a mega rate hike by the US central bank in June. Market estimates conceived CPI at 8.1%, lower than the former reading of 8.5%. While the print …

President of the Federal Reserve Bank of St. Louis, James Bullard has commented on the latest CPI data saying that he ”won’t emphasize single inflation report too much but inflation is more persistent than many have thought.”The markets are in a freefall into the closing bell on Wall Street on …

Treasury yields have noticeably rebounded on Wednesday after US consumer price data revealed that the pace of inflation slowed in April but has not peaked as prices rose more than economists expected and ensured the Fed will go ahead with monetary policy tightening.The yield on 10-year Treasury notes rose 3.1 …

The White House’s website published a statement by US President Joe Biden, commenting on the CPI data released earlier on Wednesday. On Tuesday, in a proactive manner, Biden gave a speech on the US economic outlook, blaming high inflation on COVID-19 pandemic disruptions to the economy as well as the …