Market Update

The UK manufacturing sector activity expanded less than expected in November, the final report from IHS Markit confirmed on Wednesday.  The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) was revised lower from 58.2 to 58.1 in November, missing an estimation of 58.2. “Manufacturers are facing a challenging …

Markets are still concerned about the Corona mutant, Omicron, and the first case was detected in Japan, despite the country closing its borders to arrivals from other countries. Spot gold rose 0.3 percent to $1,778.56 an ounce. US gold futures rose 0.2 percent to $1,780.60. On Tuesday, gold fell to …

Oil prices rose more than 3 percent on Wednesday, offsetting some sharp losses incurred during the previous session, as major producers prepare to discuss how to deal with the threat to fuel demand from the mutated Omicron. Brent crude futures rose $2.46, or 3.6 percent, to $71.69 a barrel by …

Japanese stocks closed higher in choppy trading on Wednesday after three consecutive sessions of heavy losses, but uncertainty over the impact of the omicron capped gains. The Nikkei index ended trading on Wednesday, up 0.41 percent to 27,935.62 points, after rising nearly 1 percent. The broader TOPIX index compensated for …

Uncertainty Behind Volatile US Session Risk-aversion is increasingly becoming a key word in the market context. The US dollar firstly fell but changed course during US trading hours to reach weekly highs against most major rival currencies.Concerns around the coronavirus pandemic rotated during the first half of the day, with …

Gold futures are currently traded lower by -2.20 at 1774.95 per ounce during on Tuesday after giving back some earlier gains because the precious metal got impacted by comments from U.S. Fed’s Powell sent buyers to selloff. According to the current market sentiment, Powell was able to send hawkish waves …

US showdown is looming again as Congress returns to the thorny issue facing urgent deadlines to avoid debt ceiling limit default. Failure to reach agreement on funding bills or debt ceiling would profoundly impact the country and Biden’s Administration, while failure to agree on a final form of the USD …

While wider optimism has spread believing the job market is getting better, a lot of US citizens believe the actual economy s getting worse and worse.Claims for unemployment benefits retreated to lowest point since 1969 the week before Thanksgiving in an amazing rebound from the levels earlier during the Covid-19 …

Speaking on State TV in Turkey on Tuesday, Turkish President Recep Erdogan said that he will boost investment, employment, growth and production by lowering interest rates.Interest rates are the cause and inflation is the result, he continued, adding that he thinks economic growth in 2021 will be about 10%. Hopefully …

Fed Vice Chair Richard Clarida said on Tuesday that the labour market right now is a lot tighter than it was following the previous two recessions and that wages gains are healthy but not out of line with productivity.Adverse supply shocks can be a challenge for monetary policy, he added, …