The Turkish lira fell after record highs over five days, disregarding the messages of reassurance from the government. The currency fell 6.2% to 11.3399 per dollar, on a weak trading day, and since the beginning of the year, the lira has lost 34% of its value, which is the largest …
Read More »European Shares Decline in Limited Rrading
European shares fell in limited trading due to the Christmas holiday on Monday as risk appetite was hit after the mutant Omicron led to a spike in COVID-19 cases globally. The pan-European Stoxx 600 index fell 0.2 percent after Asian shares were mixed. Banks and technology stocks were among the …
Read More »Market Drivers – Asian Session 27-12-2021
Japanese stocks closed lower on Monday with SoftBank Group leading losses as concerns over the fallout from the mutated Omicron from the coronavirus outweighed the positive impact of gains in technology heavyweights. The Nikkei index fell 0.37 percent to close at 28,676.46 points, while the broader Topix index fell 0.45 …
Read More »Japanese Stocks Close Lower on Omicron Fears
Japanese stocks closed lower on Monday with SoftBank Group leading losses as concerns over the fallout from the mutated Omicron from the coronavirus outweighed the positive impact of gains in technology heavyweights. The Nikkei index fell 0.37 percent to close at 28,676.46 points, while the broader Topix index fell 0.45 …
Read More »Oil Prices Fluctuated And US Crude Fell
Oil prices were mixed on Monday, with Brent crude rising, while US crude futures fell after airlines canceled thousands of flights in the United States over the Christmas holidays amid a surge in Covid-19 infections. US West Texas Intermediate crude futures fell 41 cents, or 0.6 percent, to $73.38 a …
Read More »Gold Prices Settled After The Decline in US Treasury Yields
Gold prices stabilized on Monday above the key level of 1,800 dollars an ounce, while a slight decline in US Treasury yields was offset by a rise in the dollar. Spot gold rose 0.1% to $1,809.95 an ounce and has mostly remained above $1,800 since closing above that level for …
Read More »Weekly Recap 20 – 24 Dec.
The financial markets closed the trading week ending on December 24, with the progress of risk assets, led by global stocks, over the rest of the safe-haven assets, led by the US dollar. Over that week, the main drivers of the markets were the economic data and positive developments regarding …
Read More »Market Drivers – US Session – 24-12-2021
Gold rose for the second successive week and finished slightly below $1810 after rebounding from $1783. It was unable to hit fresh monthly highs.The precious metal continued to improve its outlook, with a close above the 55-week simple moving average. The upside continues to face resistance around $1810/15. A break …
Read More »Why IMF’s Worries About Cryptocurrencies
The International Monetary Fund is concerned about cryptocurrencies, chiefly because the promising market is growing at a noteworthy pace and regulation is not coping with such a pace.The total market value of all crypto assets surpassed USD 2 trillion in September this year, representing a 10-fold jump from levels seen …
Read More »Latest inflation Wave Worst Obstacle Ahead US Economic Recovery
Over the course of a year, consumer prices rose by 5.7%, the fastest surge of inflation seen in decades. Now, the omicron variant of COVID-19 is threatening any progress the country’s economy has made.In the late 1970s when inflation surged to 7, 8, 9, up to 11%, it was a …
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