Gold prices rose on Wednesday as investors looked for a shield in the face of sharply rising inflation and the uncertainty that events in Ukraine are imposing on the markets, and falling US bond yields provided support for the yellow metal. And gold rose in spot transactions 0.6 percent to …
Read More »European shares rise, boosted by commodity-related shares
European shares opened slightly higher on Wednesday, extending gains for the sixth consecutive session, despite continuing concerns about the economic fallout from the Ukraine crisis. Shares of energy and basic materials companies were among the biggest gainers, as fears of supply shortages due to the war between Russia and Ukraine …
Read More »America and Britain agree to remove duties on products including steel and aluminum
On Tuesday, March 23rd, the United States ended a long-running dispute with Britain over US steel and aluminum tariffs. America said that the two allies will work closely to confront the excess capacity in the market from economies that do not work with their mechanisms, such as China. US Commerce …
Read More »Turkish Consumer Confidence Rises 72.5% in March
Turkish consumer confidence rose 1.3 percent to 72.5 points in March, official data showed on Wednesday, rebounding from a dip last month and ignoring any impact of the conflict in Ukraine. Turkish consumer confidence hit a record low in December due to the depreciation of the lira. It had plunged …
Read More »The Dollar Index is Losing The Bullish Momentum
The dollar index settled near 98.4 during trading on Wednesday, after it failed to achieve sharp daily gains in the previous session, as investors weighed up optimistic statements from Federal Reserve officials in exchange for improved risk appetite that sent global stocks higher. The dollar jumped last Monday after Federal …
Read More »A new jump in inflation in Britain to reach its highest level in 30 years
Britain’s inflation rose to a 30-year high of 6.2 percent last month, official data showed on Wednesday, the highest end of analysts’ expectations. The median forecast in a Reuters poll of economists had called for a reading of 5.9 percent.
Read More »Japan shares close at the highest level in two months
Japanese stocks closed on Wednesday at their highest levels in more than two months, as technology shares rose, following in the footsteps of their US counterparts, and auto stocks gained as the yen weakened. The Japanese Nikkei index closed up by three percent to record 28,040.16 points. The broader Topix …
Read More »Market Drivers – US Session – Tuesday 22 March
The US dollar edged lower against most major rivals on Tuesday, except against the Japanese yen, with USD/JPY soaring to 121.02, its highest since February 2016. Economic DataManufacturing activity in the US central Atlantic region rebounded in March after growing marginally in February, according to a survey from the Federal …
Read More »Nike, Pfizer, Alibaba Stocks Among North America Session’s Winners
Shares of Nike jumped 2.2% after the company reported a beat on the top and bottom lines in the third quarter. The retailer reported earnings of 87 cents per share on revenues of $10.87 billion, topping estimates of 71 cents per share on revenues of $10.59 billion. Nike delayed giving …
Read More »US companies’ revenue impacted by slower growth in China
China’s economic growth is forecast to slow amid fresh coronavirus outbreaks, denting profits for US firms. But disruptions to Chinese manufacturing could steer factory orders to Southeast Asia.US companies stand to earn less this year in China as growth slows in the world’s second largest economy. Slowing growth in the …
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