Market Update

Retail Sales in Canada rose by 2.1% on a monthly basis in August, the data published by Statistics Canada showed on Friday. This reading followed July’s contraction of 0.6% and came in slightly better than the market expectation for an increase of 2%.

The Turkish lira is still recording a strong decline during trading and is heading towards the abyss, especially with the continued achievement of record low levels against the US dollar after the Turkish Central Bank’s decision to cut interest rates. During Friday’s trading, the dollar-lira exchange rate rose to the …

The dollar fell against its rival currencies and is heading towards recording the second weekly decline in a row, due to news that the debt-laden Chinese Evergrande Group avoided a default that supported the appetite for high-risk assets. Concerns about the real estate developer group, whose debt is equivalent to …

The yellow metal rose for the fourth consecutive session, supported by the weakness of the dollar, while inflationary pressures boosted demand for the precious metal as a safe haven. Spot gold rose 0.5% to $1,790.91 an ounce. US gold futures rose 0.6% to $1,792. The dollar index is heading down …

European markets opened the session higher, as global sentiment was unexpectedly boosted by interest payments from debt-laden China’s Evergrande Group, while L’Oréal’s strong earnings and tech shares further supported it. The Stoxx 600 index of European shares rose 0.2%, while Asian shares rose after news that the Chinese real estate …

The Eurozone manufacturing sector activity improved in the reported month, the latest manufacturing activity survey from IHS/Markit research showed on Friday. The Eurozone Manufacturing purchasing managers index (PMI) arrived at 58.5 in October vs. 57.0 expectations and 58.6 prior. The index hit eight-month lows. The bloc’s Services PMI dropped to …

On Friday, risk appetite returned to Asia after China’s Evergrande paid about $83.5 million in bond interest, Reuters reports citing China’s Securities Times. Reuters reported that the debt-laden Chinese real estate developer paid the amount on Thursday, October 21. Evergrande transferred the money to a trust account to pay the …

The German manufacturing sector expanded in October, the preliminary manufacturing activity report from IHS/Markit research showed this Friday. The Manufacturing PMI in Eurozone’s no.1 economy came in at 58.2 this month vs. 56.5 expected and 58.4 previous. The index reached its lowest in nine months. Services PMI dropped to six-month …

From Europe to the United States, market drivers ranged from unemployment, inflation-related concerns, earnings and alarming losses to inventories of energy, particularly natural gas. The USD managed to stop its Wednesday’s downtrend to advance anew on Thursday.   Risk turned off on Thursday leading the USD to reap the most …

Corporate earnings for Q3 continue to impact the performance of financial markets as well as the reactions of investors and traders. Higher than expected earnings have become the common trend on the market scene, this October, despite supply chain difficulties and cost issues.TeslaTesla posted Q3 profits that topped expectations, with …