Market Update

European shares settled on Thursday in volatile trading after a series of positive corporate results, while mining stocks fell more than two percent with Anglo American slumping after it cut production expectations. The pan-European Stoxx 600 index was little changed by 0723 GMT. Mining stocks fell 2.4 percent, leading the …

Japan’s Nikkei stock index rose on Thursday to its highest level in more than two weeks, supported by technology companies after the decline in long-term US bond yields Wednesday evening. The Nikkei index closed up 1.23 percent to 27,553.06 points, the highest level since April 5, when the broader Topix …

Fed Chair Jerome Powell’s remarks on Thursday will be closely monitored and are being flagged as having the potential to reignite the buck’s recent bull run. ECB President Christine Lagarde and BoE Governor Andrew Bailey will both also be speaking, so central bank policy divergence will be an important FX …

WTI pressured on Wednesday while futures rose marginally. Political standoff in Libya has highlighted the fragility of oil supply. Crude oil is down in late North American trade by some 1.28% and has fallen from a high of $103.92 to a low of $99.93 into the close. It posted a …

Stocks edged mostly higher in afternoon trading on Wall Street Wednesday but were held back by streaming entertainment giant Netflix, which lost more than a third of its value after reporting its first subscriber loss in more than a decade and predicting more grim times ahead.US stock indexes posted a …

Tesla has just reported Q1 results, 2022, and beaten analysts’ expectations on top and bottom lines. For the period ending March 31, 2022 Tesla reported $3.22 earnings per share, and revenue of $18.76 billion.Automotive revenue reached $16.86 billion, up 87% from the same period last year. Automotive gross margins jumped …

Supply chain bottlenecks, the highest inflation in decades and a persisting labour shortage are weighing on businesses across the country, according to a new Federal Reserve report. In its region-by-region roundup of anecdotal information known as the Beige Book, the Fed reported that while economic activity increased at a “moderate …

The Gold Price fall was capped by falling US Treasury yields amidst a risk-on market mood. US Treasury yields dropped from three-year highs and undermined the US dollar. Bulls start to engage at the start of a demand area, eyes on daily M-formation.Gold Price is higher in the US session, …

San Francisco Fed President and FOMC member Mary Daly on Wednesday said that the case for a 50 bps rate hike in May is now “complete” and that the Fed can also make an announcement on the reduction of its balance sheet at the next meeting, reported Reuters. Daly said …

A combination of factors assisted AUD/USD to gain strong positive traction on Wednesday. Hawkish RBA minutes extended support to the aussie amid a sharp USD corrective pullback. Bets for aggressive Fed rate hikes should limit the USD losses and cap the upside for the pair.The AUD/USD pair maintained its bid …