Market Update

The U.S. Dollar (USD) was little changed on the first session of the week against major currencies, leveling up for the third consecutive session with a modest rise. The greenback leveled up by about 0.03% against major currencies. Against the Euro (EUR), the USD lost 0.02%, with the EUR/USD pair …

Oil prices closed higher on Monday, with markets anticipating the results of the upcoming OPEC+ meeting, which will likely result in maintaining the current gradual approach in easing output curbs. Crude prices increased after Hurricane Ida led to the shut down of most refineries in the Gulf Coast. Brent crude …

European stocks finished Monday higher, opening the week with a positive performance, maintaining an upward trend for the second day in a row. The STOXX Europe 600 Index rose 0.34 point or 0.07% to 472.68 points. This is the highest closing value for the pan-European index since August 18. In …

The United States Pending Home Sales Index declined by 1.8% last month, according to data by the National Association of Realtors on Monday. The reading comes against market expectations of a modest increase, while the June reading was revised upwards to 2%. On an annual level, pending home sales decreased …

The growth of factory activity in Texas slowed in August, according to the Texas Manufacturing Outlook Survey, by the Federal Reserve Bank of Dallas. The production index decreased by 10 points to 20.8, while the new orders index retreated to 15.6 from 26.8. The growth rate of orders declined by …

At their meeting on September 1, the OPEC and its allies (OPEC+) are likely to maintain the oil output policies, Reuters reports, citing sources familiar with the cartel’s thinking. The sources said that OPEC+ will kick off with the planned 400K barrel per day (bpd) hike from September. “Current oil …

According to the preliminary estimate published by Destatist on Monday, consumer inflation in Germany, as measured by CPI, decelerated sharply in August and remained flat as compared to the 0.9% rise recorded in the previous month. On a yearly basis, the CPI edged higher to 3.9% from 3.8% in July.

The dollar held near two-week lows on Monday, held in check by a message from the US Federal Reserve chairman that there is no rush to withdraw massive stimulus. The US currency’s allure took a hit since Friday, when Federal Reserve Chairman Jerome Powell said a gradual reduction of stimulus …

Gold prices fell on Monday, August 30, as risk appetite improved after US Federal Reserve Chairman Jerome Powell calmed market fears of a rapid withdrawal of stimulus applied to mitigate the impact of the Coronavirus pandemic, reducing the yellow metal’s safe-haven appeal. Spot gold fell 0.2% to $1,813.76 an ounce …

Japanese stocks rose on Monday, August 30, due to a rebound on Wall Street, after US Federal Reserve Chairman Jerome Powell’s remarks at the Jackson Hole forum eased market concerns about a rapid withdrawal of stimulus measures due to the epidemic. The broader TOPIX index rose near the close to …