Market Update

Oil prices rose on Wednesday, extending gains from the previous day as investors remained skeptical about the effectiveness of a US-led move to draw down strategic oil reserves and shifted their focus to the next step for oil producers. Brent crude futures rose 13 cents, or 0.2 percent, to $ …

The Turkish lira fell back to a new record low on Wednesday amid fears of high inflation and other economic repercussions, after it plunged 15 percent the previous day after President Recep Tayyip Erdogan defended recent interest rate cuts. The lira fell to 13.1500 against the dollar, before falling to …

Gold prices rose marginally on Wednesday, despite the strength of the US dollar and speculation that the Federal Reserve will raise interest rates soon, keeping the metal below $1800. Spot gold rose 0.3% to $1,794.96 an ounce by 02:39 GMT, after losing 1.4% on Tuesday to its lowest since November …

Japan’s Nikkei index fell at the end of trading on Wednesday, after shares of companies that are expected to achieve high growth suffered losses amid investors’ fears that the Federal Reserve may accelerate policy tightening to counter the rising inflation risks. The Nikkei index closed down 1.58 percent at 2,9302.66 …

Japan’s Nikkei index fell at the end of trading on Wednesday, after shares of companies that are expected to achieve high growth suffered losses amid investors’ fears that the Federal Reserve may accelerate policy tightening to counter the rising inflation risks. On Monday, US President Joe Biden re-nominated Jerome Powell …

Wall Street major indices edged lower with the exception of Dow Jones Industrial that was the main winner of Tuesday’s US session. Higher US Treasury yields have impacted heavy-tech company earnings, spurring a selloff of tech stocks. Sector-wise, the main winners are energy, financials, and real-estate, rising 3.06%, 1.24%, and …

The Canadian dollar benefited from the rise in global oil prices, despite the Biden administration’s announcement to release 50 million barrels of US strategic oil reserves in an attempt to tame the sharp rises in fuel prices in the United States.The Canadian dollar rose, pushing the USD/CAD pair down, to …

The Dow Jones Industrial is the main winner of Tuesday’s US session. Higher US Treasury yields have impacted heavy-tech company earnings, spurring a selloff of tech stocks. During the New York session, major US equity indices edged lower as Wall Street approaches the close. The S&P 500 loses 0.35%, sitting …

Oil futures rose sharply Tuesday after the Biden administration announced a coordinated, US-led effort by energy consuming countries to release strategic crude reserves.The coordinated move had been well-telegraphed. News reports speculating on potential releases from the Strategic Petroleum Reserve and talk of a coordinated effort, lately joined by India, and …

The US dollar extended its gains, reaching fresh 2021 highs vs the EUR and the GBP. EUR/USD bottomed for the day at 1.1225, while GBP/USD fell to 1.3341. The sour tone of global indexes and higher government bond yields fueled demand for the safe-haven dollar.Bank of England governor Andrew Bailey …