Market Update

The German Federal Statistics Office said in a revision of an earlier estimate that private consumption and government spending led to a stronger-than-expected economic recovery in Germany in the second quarter, following the easing of anti-Covid-19 restrictions. The bureau added that gross domestic product grew 1.6% in the April-June quarter, …

The main indices of the New York Stock Exchange (NYSE) finished higher on Monday, with the Nasdaq hitting a new all-time closing high and the S&P 500 nearing its record high. Meanwhile, Wall Street investors seemed more optimistic about efforts to combat the coronavirus pandemic, after the Food and Drug …

The British Pound (GBP) rose on Monday against the U.S. Dollar (USD) recovering some of its recent losses last week. The GBP/USD pair gained 0.70% to reach 1.3722, in its biggest rise in a single session since July 9. The Sterling was able to snap a two-session losing streak, but …

Oil prices closed higher on Monday with their best performance in five months, recovering most of their losses last week, despite lingering concerns over the spread of the Coronavirus Delta variant. Today’s rebound, the highest since March 24, snaps a seven-session declining streak for oil futures, which brought them to …

Gold prices rose for the second straight session on Monday, building on the U.S. Dollar’s (USD) decline across the board against major currencies amid selling pressures following its surge to a nine-month high by the end of last week. Gold’s front-month futures added $22.20, or 1.25%, to finish at $1803.2 …

European stocks continued to rebound for the second consecutive session on Monday, starting the week with a positive performance to recoup some of its recent losses. The STOXX Europe 600 index rose by 3.08 points or 0.66% to finish at 471.88 points. Today marked the biggest daily gain for the …

Dubai TV interview with Mohamed Hashad, R&D Director at Noor Capital Speaking to Dubai TV on Monday, Mohamed Hashad, Director of Research and Development at Noor Capital, discussed the current situation across global markets, with anticipation for a number of developments over the course of the week. USD The U.S. …

The Euro (EUR) is trading higher on Monday, opening the week with a positive performance amid a decline by the U.S. (USD) that is seeing increased selling pressures for profit-making after surging to a nine-month high last week. The European currency’s rise comes despite a recent slump in Eurozone consumer …

Home sales in the United States continued to rise for the second consecutive month against market expectations, data by the National Association of Realtors showed on Monday. U.S. existing home sales rose by 2% to a seasonally adjusted annual rate of 5.99 million units in July from 5.87 million units …

For the first time since the beginning of last May, Bitcoin, the largest cryptocurrency by value, succeeded in surpassing the $50,000 levels, which served as an important psychological resistance point for the bulls. According to analysts, testing the levels of $50,000 establishes new support levels above the $48,000 in an …