Market Update

European natural gas prices surged for a second trading day as investors, market participants and traders are watching Russia’s Nord Stream 1 pipeline on maintenance, speculating when it could be completed and thereafter reopened. The pipeline was shut for planned maintenance that is scheduled to last for 10 days, but …

Wall Street stocks dropped and short-dated Treasuries came under pressure on Wednesday after hotter than expected US inflation data fueled expectations of aggressive Federal Reserve rate hikes.US stocks opened sharply lower after the Consumer Price Index reading in June showed inflation surged in June more than expected, with the annual …

The USD/JPY pair jumped after the release of the US June CPI to 137.86, reaching a fresh 24-year high. After the beginning of the US trading session pulled back to 137.10. As of writing, it is moving back to the 137.50 area.Inflation keeps rising, so does the US dollar. Inflation …

Following the Bank of Canada’s (BOC) decision to hike the policy rate by 100 basis points to 2.5% in July, Governor Tiff Macklem is delivering his remarks on the policy outlook and responding to questions from the press.Meanwhile, Senior Deputy Governor Carolyn Rogers argued that part of restoring the balance …

Data on Wednesday showed that Turkey’s unemployment rate fell 0.3 percentage point on a monthly basis in May, while the seasonally adjusted disguised unemployment rose 0.8 percentage point to 22.4 percent. Disguised unemployment was declining for most of the past year, after it peaked at 29.6 percent in January 2021 …

The euro hovered above parity with the US dollar on Wednesday as traders focused on US data due later on Wednesday that is expected to show inflation at a 40-year high. European stocks witnessed a decline and the currency markets were calm in early European trading, with the dollar index …

Eurozone’s Industrial Production increased more than expected in May, the official data published by Eurostat showed on Wednesday, suggesting a gradual upturn in the bloc’s manufacturing sector activity. The industrial output in the old continent arrived at 0.8% MoM vs. a 0.3% rise expected and 0.5% last. On an annualized …

European shares fell on Wednesday as investors awaited US inflation data expected to reach its highest level in 40 years, which supports a large interest rate hike and may push the euro to parity with the dollar. The pan-European Stoxx 600 index fell 0.8 percent after closing higher in a …

The International Energy Agency said on Wednesday that the global oil market was walking a “tightrope” between a supply shortage and a possible economic recession, with demand already affected by higher prices and deteriorating economic conditions. Rarely has the outlook for oil markets been more uncertain. A worsening macroeconomic outlook …

China’s exports grew at the fastest rate in 5 months in June, exceeding analysts’ expectations, confirming that China, the world’s second largest economy, is slowly recovering from the effects of the restrictions it imposed to contain the Corona virus pandemic. But imports grew at a slower rate that did not …