Market Update

US mortgage applications fell more than 6% last week compared to the previous week, according to the seasonally adjusted Mortgage Bankers Association index, with interest rates hiked by the US Federal Reserve. The trading volume is down about 40% compared to the same week a year ago. Higher interest rates …

Credit rating agency Standard & Poor’s Global said in a report that global sovereign borrowing will reach $10.4 trillion in 2022, about a third more than the average before the coronavirus pandemic.

Oil futures rose on Wednesday to recoup losses early in the session as supply concerns increased after new sanctions against Russia were threatened, outweighing concerns of weak demand after an increase in US crude stocks and the extension of the general closure in China’s Shanghai. Brent crude futures rose 49 …

European shares retreated from more than six-week highs on Wednesday as the United States and its allies are likely to further isolate Russia’s economy with more sanctions, boosting global inflation. The pan-European STOXX 600 index fell 0.3 percent, joining Wall Street and Asia markets, as concerns about a tightening from …

The German Factory Orders declined more than expected in February, suggesting that the recovery in the manufacturing sector of Europe’s economic powerhouse is in the doldrums. Contracts for goods ‘Made in Germany’ dropped by 2.2% on the month vs. -0.2% expected and 1.8% last, the latest data published by the …

Japan’s Nikkei index posted its biggest decline in nearly four weeks on Wednesday, tracking Wall Street as hawkish comments from US Federal Reserve officials raised the prospect of a further interest rate hike and fueled fears of slowing economic growth. The Nikkei lost 1.58 percent to close at 27,350.30 points, …

The US dollar is the most prominent winner on Tuesday, firmly up against all of major rival currencies. Diminishing chances of a diplomatic solution to the Russia-Ukraine conflict and central banks’ aggressiveness were behind the market’s movements during the US trading session.Economic DataUS Institute for Supply Management (ISM) has unfolded …

The US dollar index has finally turned imbalance after consolidating in a range of 97.68-99.42 over one month. The strength of the dollar as a robust asset amid an aggressive hawkish stance from Fed policymakers has supported the Index to establish above 99.00 and has also exposed it to touch …

Investors, traders and market participants are eying minutes of the Federal Reserve’s March meeting to find direction as well as to gauge US central bank policymakers’ appetite for a half percentage point increase in interest rates in May. The stock market remains within a specific range for now, which should …

Amid a looming new sanctions package, the US Treasury Department’s new move would prohibit Russia from using funds held in American banks to pay debt obligations. The Treasury Department on Monday prohibited Russia from withdrawing funds held in American banks to pay its debt obligations, a major escalation aimed at …