Market Update

Leaders of the Asia-Pacific Economic Cooperation (APEC) forum vowed on Friday to address economic recovery in the region by shoring up supply chains.The summit is tackling labour issues and continuing to respond to the COVID-19 pandemic. The summit is held amid heightened U.S.-China tensions.Biden and Xi expected to meet virtually …

USD/CHF tends to end Friday’s session flat slightly gaining at 0.9200 level. The pair had at one point been nearly as high as 0.9240, but a sharp, surprise worsening in Consumer Confidence in November according to the University of Michigan’s Index that pushed the pair from highs and back towards …

The USD/CAD pair is currently trying to hold below the support at 1.2550 while the U.S. dollar is losing some strength because of inflation and the retreat of customer sentiment.The U.S Dollar Index is stuck in the range between the support at 95 and the resistance at 95.20. In case …

The U.S. Securities and Exchange Commission on Friday rejected rule changes that would have allowed the listing and trading of the VanEck bitcoin exchange traded fund.In March, the Cboe BZX Exchange, Inc. filed a proposed rule change to list and trade shares of the VanEck Bitcoin Trust under BZX Rule.The …

Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil rose by four to 454 this week. That followed increases in each of the previous two weeks, including a climb of six oil rigs last week, Baker Hughes data show. The total active U.S. rig …

XAU/USD prices have recovered back to trading flat on the day, having at one point prior to the U. S. open been trading with losses of nearly 1.0%. Gold appeared to find good demand at $1850 as gold bulls and those seeking inflation protection bought the dip.As Fed encounters pressure …

Wall Street’s main indexes trade in the positive territory on Friday. Tech shares push higher after the opening bell.Major equity indexes in the U. S. started the last day of the week in the positive territory on the back of improving market sentiment. The CBOE Volatility Index, Wall Street’s fear …

Gold against the EUR is trying to extend its weekly uptrend for seven successive days, trading at €1,627 during the New York session.Early in the Asian session, the precious metal retreated to give back some of its weekly gains, as bears pushed gold towards the 50-simple moving average on the …

U.S. consumer sentiment fell in early November to the lowest level in 10 years as surging inflation cut into households’ living standards, with few believing policymakers are taking sufficient steps to mitigate the accelerating inflation.The University of Michigan’s Consumer Sentiment Index dropped to 66.8 in its preliminary November reading, released …

Most Treasury yields turned lower Friday morning, after the front-page readings from the University of Michigan’s consumer-sentiment report in at the lowest in a decade, had been released.According to the data released Friday, the University of Michigan’s Index fell to 66.8 in November from 71.7 in previous month, creating a …