Market Update

US Stocks abandoned an early stumble and rose in morning trading on Wall Street Thursday, keeping the market on track to break a three week losing streak.The Dow Jones Industrial Average rose 133 points, or 0.4%, to 31,720 and the Nasdaq rose 0.6%.The S&P 500 rose 0.5% as of 10:58 …

The European Central Bank raised key interest rates by 75 basis points on Thursday, in line with market expectations. The statement and Lagarde’s comments suggested more rate hikes ahead. The euro lost ground across the board after the meeting while the dollar rose boosted by Fed’s Powell remarks. Analysts believe …

The Canadian dollar was weakened following Fed Chair Jerome Powell’s speech that indicated Fed’s commitment to fight inflation. The market’s reaction has sent the US dollar higher, while the US 2-year yield, the most sensitive to interest rate increases, climbed.The USD/CAD pair is trimming some of Wednesday’s losses, climbing towards …

The European Central Bank raised interest rates by 75 basis points on Thursday as expected. According to analysts, the ECB is to hike 50bps in October, and 25bps at each of the three meetings from December to March, reaching a terminal of 2.00% at that meeting.Today’s decision suggests that the …

here were 222,000 initial jobless claims in the week ending September 3, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 228,000 (revised from 232,000) and came in better than the market expectation of 240,000. Further details …

Key takeaways from policy statement “This major step frontloads transition from prevailing highly accommodative level of policy rates towards levels that will ensure timely return of inflation to ECB’s 2% medium-term target.” “Based on current assessment, over next several meetings, ECB expects to raise interest rates further to dampen demand …

The European Central Bank (ECB) announced on Thursday that it raised its key rates by 75 basis points (bps) following the September policy meeting. With this decision, the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will be …

Oil prices fell on Thursday, after recording sharp losses in the previous session, as the extension of China’s closure measures to curb the spread of the Coronavirus exacerbated fears of a slowdown in global economic activity, which is hurting demand. Brent crude futures lost 40 cents, or 0.4 percent, to …

On Thursday, the euro hovered above the 20-year low hit two days ago as investors awaited the European Central Bank’s policy decision and comments from the Federal Reserve chief for indications on the path of global monetary tightening. The European Central Bank is expected to raise interest rates by 75 …

European shares opened higher on Thursday, ahead of what could be the largest interest rate hike ever announced by the European Central Bank. Mining and banking stocks led the gains. Markets are awaiting the size of the central bank’s increase in the main interest rate. The bank is studying a …