Market Update

US equity markets are trading sharply lower on Monday, with the S&P 500 index on course to confirm a correction, a close of more than 10% below the recent highs printed back in the first week of 2022. The index slumped below the 4300 level on Monday, to hit its …

The US dollar has continued to rise since the beginning of Monday’s trading session, benefiting from the deterioration in risk appetite in global financial markets due to the Russian-Ukrainian tensions.The dollar index, which measures the performance of the US currency against a basket of major currencies, rose to 96.02 points, …

The EUR/USD pair has dropped to 1.1289, reaching lowest level since 10 January and then rebounded. It is back above 1.1320, still in negative territory but off lows and back above the critical 1.1300 area.If the pair manages to remain above 1.1300 it could remain in the current range with …

According to a preliminary January survey by IHS Markit, Service PMI fell to 50.9 this month from 57.6 in December. That was much larger than the expected decline to 55.0 and marked the lowest reading since July 2020.IHS Markit’s Manufacturing PMI also fell more than expected to 55.0 from 57.7 …

Goldman Sachs expected the US Federal Reserve to raise interest rates during its upcoming meetings, specifically starting from the next March meeting. The Fed may decide to raise rates 4 times during March, June, September and December. The US investment bank suggested that the US Federal Reserve would start reducing …

Bitcoin tumbled nearly 9 percent on Monday to a six-month low, as fears of a Russian attack on Ukraine kept selling risky assets at a rapid pace around the world. Bitcoin, the largest cryptocurrency, fell 8.8 percent to $ 33,058, its lowest level since July 23, to suffer losses of …

European shares fell in early trading on Monday, with technology shares falling as fears of monetary tightening sparked a sell-off in global stocks over the past week. The pan-European Stoxx 600 index was down 0.4 percent by 0814 GMT, with Asian markets also under pressure as investors awaited monetary policy …

Manufacturing PMI in the UK declined to 56.9 in early January from 57.9 in December, IHS Markit reported on Monday. This print came in worse than the market expectation of 57.9. Further details of the publication revealed that the business activity in the services sector expanded at a softer pace …

The economic activity in Germany’s manufacturing sector grew at its strongest pace in five months with Markit Manufacturing PMI jumping to 60.5 from 57.4 in December. This print surpassed the market expectation of 57. Additionally, Markit Services PMI advanced to 52.2 from 48.7 in December, showing that Germany’s service sector …

The Nikkei index reversed course to close higher on Monday as investors snapped up cheaper stocks after a rally in US stock futures, but the rally was limited by caution ahead of the US Federal Reserve’s policy meeting this week. The Nikkei rose 0.24 percent to 27,588.37 points. Earlier, the …