Market Update

The German economy shrunk by 0.7% inter-quarter in the fourth quarter of 2021 when compared to the expectations of -0.3% and 1.7% booked in Q3, the preliminary report published by Destatis showed on Friday. Meanwhile, the annualized GDP rate dropped to 1.4% in Q4 against the previous reading of 2.5% …

Apple reported record sales in the fourth quarter of 2021, the holiday season, with profits that beat expectations while overcoming an expensive global shortage of computer chips. Analysts said the iPhone maker, the world’s largest by market value, has handled supply chain challenges such as factory closures and shipping delays …

Japan’s Nikkei index recovered on Friday after falling to a 14-week low, and although it was supported by strong gains in Apple Inc, it recorded its biggest weekly decline in two months. The Nikkei stuck to the gains it recorded in the morning and did not witness any fluctuations after …

Although traders are still digesting Fed’s policy statement, Thursday’s US session closed on a positive note for both US stocks and the US dollar, seen rising at the same time.The interest rate policy statement and the remarks by Fed Chairman, Jerome Powell, were among the most important factors that continued …

Tensions are escalating in Eastern Europe as several reports refer to potential invasion of Ukraine. The crisis brought about several important developments that, in effect, throw heavy shadows on the financial markets, and, in turn, impact price movements as well as igniting concerns on oil supply disruption.The new developments include …

Gold was lower in midday markets on Wall Street, losing some 1.4% at $1,795. The price of gold fell from a high of $1,822.18 and had reached a low of $1,791.86. Equity markets initially bounced in the aftermath of the FOMC driven sell-off yesterday. However, they started to slide again …

After several bad months of economic reports showing high inflation, President Joe Biden received some welcome economic news at the White House Thursday.According to the Bureau of Economic Analysis, the economy grew at a faster-than-expected rate of 6.9% to close out 2021. This data represents the fourth quarter of 2021, …

The USD dollar marches firmly in the North American session, with the DXY surging 1.34%, above 97.00. The US dollar gains come on the back of the US central bank’s looming hike of interest rates, most probably in the March meeting.The USD/JPY pair is upward biased, though a break above …

Analysts from Rabobank expect no surprises from the European Central Bank at its February meeting. They expect 2022 to bring a reversal of pandemic policies, but not a broader tightening of policy. Main Quotes: “The ECB has recovered some policy flexibility in December, but this comes at the cost of …

A series of Q4 earnings and economic reports combined to pusg the stock market higher Thursday morning, a day after wide swings greeted the Federal Reserve’s latest views.The Nasdaq composite and S&P 500 climbed 1.3% at 10 a.m. ET. The Dow Jones Industrial Average rose 1%. Small caps were up …