The US data was the highlight during the previous period. There were 223,000 initial claims for unemployment benefits in the US during the week ending February 5, the data published by the US Department of Labor revealed This reading came in better than the market expectation of 230,000. Inflation in …
Read More »US Annual CPI Inflation Jumps to 7.5% in January
Inflation in the US, as measured by the Consumer Price Index (CPI), rose to 7.5% on a yearly basis in January from 7% in December, the US Bureau of Labor Statistics reported on Thursday. to be updated…
Read More »OPEC leaves Full-Year 2022 World Oil Demand Growth Unchanged
The Organization of the Petroleum Exporting Countries (OPEC) announced in its latest monthly report that it left the 2022 world oil demand growth forecast unchanged at 4.15 million barrels per day (bpd), as reported by Reuters. Crude oil prices showed no immediate reaction to this publication and the barrel of …
Read More »Oil Rises as US Inventories Fall And Concerns Persist Over Talks With Iran
Oil prices continued to rise on Thursday after a sudden drop in US crude oil inventories in the previous session, while investors awaited the outcome of US-Iran nuclear talks that could lead to a rapid increase in crude supplies in global markets. The price of Brent crude rose 34 cents, …
Read More »Gold is Confined to a Narrow Range Ahead of The Release of US Inflation Data
Gold prices fluctuated within a limited range on Thursday, after hitting a two-week high earlier in the session, as investors awaited US inflation data for indications of the Federal Reserve’s next step towards tightening monetary policy. And the gold price settled in spot transactions at $ 1832.09 an ounce by …
Read More »European Shares Rise After Strong Gains For Siemens
European shares extended gains on Thursday, a day after achieving their best session since the beginning of the year, boosted by the rise of German shares that received a boost from strong quarterly earnings growth for Siemens. Siemens shares jumped 7.3 percent after the company said it was seeing “extraordinary” …
Read More »Canadian CPI Preview: Forecasts From Three Major Banks
Statistics Canada will release January Consumer Price Index (CPI) data on Wednesday, February 16 at 13:30 and as we get closer to the release time, here are the forecasts by the economists and researchers of three major banks regarding the upcoming Canadian inflation data. NBF “While we expect strong print …
Read More »Japan Shares Rise Supported by Strong Gains in The Technology
Japanese stocks rose on Thursday as technology shares followed their peers that made solid gains on Wall Street late Wednesday, although caution ahead of US data releases weighed on investor sentiment. The Nikkei index rose 0.42 percent to close at 27,696.08 points, after jumping more than one percent earlier in …
Read More »Market Drivers – US Session- 9 February
Easing government bond yields weighed on the US dollar, which anyway ended the day with mixed performance across the major currencies. The yield on the US 10-year Treasury note stands at around 1.93%, down from its weekly peak at 1.97%. The GBP/USD pair is unchanged on a daily basis trading …
Read More »Wti Steadies At Five-Week Support Line
WTI keeps the previous day’s bounce from short-term key supports around $89.00 during Thursday’s Asian session.Oil grinds higher towards the weekly resistance line, near $89.65 at the latest. Although a clear rebound from the 10-DMA and an upward sloping trend line from January 03, 2022, keeps buyers hopeful to overcome …
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