Market Update

The annual rate of headline Consumer Price Inflation (CPI) in Canada rose to 4.7% in October, in line with median economist forecasts and up from 4.4% in September, according to data published by Statistics Canada on Wednesday. MoM, headline CPI rose at a pace of 0.7%, also in line with …

The dollar traded higher on Wednesday, benefiting from the strong retail sales during the previous session, while the Pound rallied after the release of sharp inflation that signaled a December rate hike from the Bank of England. The dollar index, which measures the greenback against a basket of six other …

Target said fiscal third-quarter 2021 sales jumped 13% as shoppers head for Halloween costumes and back-to-school supplies and look for holiday gifts early. Earnings per share amounted to $3.03, adjusted against expectations of $2.83, and the company recorded revenues of $25.65 billion, compared to $24.78 billion.

European shares rose Wednesday, November 17th for the sixth day in a row, approaching their highest levels ever, as some positive business results helped to overcome fears of increasing inflation pressures caused by higher natural gas prices. The Stoxx600 rose 0.1%, after better-than-expected US retail trade data lifted shares on …

Gold prices rose on Wednesday, as concerns about inflation kept some investors wary, but the gains were limited by expectations that higher prices could prompt central banks to raise interest rates, which also lifted the dollar. And gold rose in spot transactions 0.6 percent to $ 1860.21 an ounce by …

The UK Consumer Prices Index (CPI) 12-month rate came in at 4.2% in October when compared to 3.1% booked in September while beating expectations of 3.9%, the UK Office for National Statistics (ONS) showed on Wednesday. The core inflation gauge (excluding volatile food and energy items) rose by 3.4% YoY …

Japanese stocks reversed course to close as well on Wednesday 17th November, as concerns about rising costs and a weaker yen outweighed the positive impact of a rally in technology stocks. The Nikkei index fell 0.4% to 2,9688.33 points, while Topix fell 0.6% to 2,038.34 points. Speaking of currency splits, …

The first virtual Chinese-US summit, Tuesday, shadowed the markets as investors eyed easing tensions between the two world’s biggest economies. US President Joe Biden said that he had a “good meeting” with Chinese counterpart Xi Jinping, in which the two leaders discussed tariff and economic competition among other issues after …

The American Petroleum Institute (API) reported a small inventory build in crude oil that was just enough to keep the market from panicking because of declining inventories. This week, the API estimated the inventory for crude oil to be 655,000 barrels.U.S. crude inventories are now 60 million barrels below the …

The British pound has a very busy week as traders digest employment data, Tuesday, inflation on Wednesday and retail sales on Friday.Economists expect 3.9% UK inflation for October, strengthening rate hike by BoE’s December meeting to suggest three scenarios:1. Within expectations: A reading between 3.6% to 4.4% meets estimates. In …