Market Update

Japanese shares extended their tech rally in overnight trading after the prime minister said he is not currently considering imposing a new state of emergency in the country. The rise in chipmaker Sony and SoftBank Group helped lift the Nikkei index, after US stocks rose at the end of last …

Oil prices rose on Monday to close to more than seven-year highs hit in the previous session, as political turmoil in Eastern Europe and the Middle East raised concerns about supply shortages. Brent crude, the benchmark, rose 92 cents, or 1.0 percent, to $90.95 a barrel, after gaining 69 cents …

US Data released on Friday showed the Employment Cost Index (ECI) rose 1% during the fourth quarter, and 4% during the year. Analysts at Wells Fargo point out the quarterly increase was more restrained than Q3’s 1.3% gain, and they consider that may tamp down fears of a wage-price spiral …

US Treasury yields ended Friday’s trading in a bearish trend, affected by the relative stability in US inflation rates, which was reflected by fresh data. Bond yields for ten years fell to 1.782%, compared to the last daily close, which recorded 1.804%.Economic DataThe oil and gas rig count, an early …

The oil and gas rig count, an early indicator of future output, rose six to 610 in the week to Jan. 28, its highest since April 2020, energy services firm Baker Hughes Co said in its closely followed report on Friday.US energy firms added oil and natural gas rigs for …

Front-month WTI futures touched fresh seven-year peaks on Friday, reaching $88.82 for the first time since October 2014, before pulling back somewhat to just below $88.00 again. Still, that leaves WTI trading more than 50 cents higher on the session and about $3.0 higher on the week. WTI is on …

The US equities surged in late trade after a broadly positive session as Fed bets eased after softer wage data. The S&P 500 leapt to close above the 4400 level again to close 2.4% higher and end the week positive. Apple led the charge after positive Q4 earnings and record …

Global equity markets reap gains on Friday at the end of a tumultuous week dominated by concerns over the Federal Reserve’s monetary policy and geopolitical tensions between Russia and the West.Strong earnings from Apple and other tech firms buoyed the US equities during Friday’s session but the major indexes remained …

France has posted its strongest growth in over 50 years, as the economy recovered from the economic shock of the pandemic. The French GDP expanded by 7% last year, data just released shows; the strongest annual expansion since 1969, as the economy showed resilience in the face of supply chain …

The EUR/USD pair is under heavy downward pressure, as the pair eyes May 2020 swing lows. The EUR/USD’s bulls failure to defend 1.1100, it would open the door towards 1.0775.After holding above 1.1200 for too many days before USD bulls launched an attack to 2021 yearly low, however, the shared …