Market Update

The Russian President Vladimir Putin said on Friday that Russia will not sustain losses from oil price caps. Putin noted that “if consumer defines oil prices, this will lead to a collapse of the oil industry”, adding that this will lead to rising prices, this proposal is stupid.Crude oil prices …

The dollar was little changed against major currencies on Friday as concerns about the performance of the US economy returned, ahead of the release of producer price index data later on Friday and the Federal Reserve meeting to decide on interest rates next week. Investors are looking forward to a …

Russia’s Deputy Finance Minister said that Moscow will decide whether to increase its oil production based on the results of the first quarter of 2023, following the imposition of an EU embargo on Russian oil exports and a price cap from the West. Russian President Vladimir Putin criticized the West’s …

European stocks rose on Friday, as industrial and financial stocks rose on optimism related to China’s easing of anti-Covid-19 restrictions, while Credit Suisse jumped after news of a capital increase. The pan-European STOXX 600 rose 0.2 percent by 0810 GMT, and appeared to be heading for an increase after losing …

Gold prices rose on Friday, supported by a weak dollar, while investors prepared for important inflation data in the United States and the Federal Reserve’s decision to raise interest rates next week. Spot gold increased 0.2% to $1,793.16 an ounce by 0241 GMT, but has fallen 0.3% since the beginning …

Japanese stocks jumped on Friday, led by chip-related and other blue-chip stocks, after Wall Street closed higher Thursday night, supported by growing hopes of a recovery in global economic growth following China’s easing of anti-COVID-19 restrictions. The Nikkei index closed up 1.18 percent at 27,901.01 points, recording the largest daily …

According to US Treasury Sec. Janet Yellen, “recession is not inevitable”. But, Yellen declined to say whether the dollar had peaked against other currencies. US stocks benefited on Thursday and exhibited better performance on anticipations of slower pace of monetary policy tightening. The performance of stocks impacted the US Dollar, …

The US dollar has been declining against most major rival currencies since the beginning of the US trading session, on Thursday. The dollar’s performance is impacted by anticipations regarding the awaited US inflation.The dollar index, which measures the performance of the American currency against a basket of major currencies, fell …

US Treasury Secretary Janet Yellen said on Thursday that the Biden administration is listening to concerns raised by European allies over the US Inflation Reduction Act, a $430 billion green energy subsidy package.Many European Union countries fear their companies will be unfairly disadvantaged by the subsidies contained in the new …

Deputy BoC Governor Sharon Kozicki said on Thursday that the Bank of Canada will study the latest economic data to find out direction and accordingly decide whether or not to raise interest rates, adding it would move forcefully if necessary.At the time of writing. USD/CAD pair trades at 1.3583, namely …