Market Update

Gold prices try to hold on humble gains impacted by economic data showing steady momentum in the U.S. manufacturing sector.U.S. durable goods orders declined by 0.4% in September, following August’s increase of 1.3%. The data was better than expected; namely a decline of 1.1%.Excluding transportation, new orders rose by 0.4% …

Short term U.S. Treasury yields leapt higher Wednesday after the Bank of Canada shut down its QE program and signaled for an early 2022 interest rate hike only some days before November’s awaited Fed policy meeting.Treasury yields jumped higher Wednesday, pushing major stock indices into the red zone, after the …

The Bank of Canada took a new major step to pull back on the amount of stimulus it has been providing to support the domestic economy on Wednesday.The latest step constitutes ending net new purchases through its quantitative easing program and moving up its forecast for when it could decide …

German 10-year bond yield retreated to the lowest in more than a week, a development that caused yield curve to be flattened on Wednesday.After a brief break, the government yield curves across developed markets are back to flattening over the last couple of successive sessions.This low reflects concern that central …

The Bank of Canada (BoC) announced on Wednesday that it left its key rate unchanged at 0.25% following the October policy meeting as expected. More importantly, the BoC decided to end its weekly purchases of the government of Canada bonds, the quantitative easing program. The policy statement revealed that the …

US stocks rose slightly at the open on Wednesday, supported by a fresh batch of strong earnings reports. The Dow Jones Industrial Average rose 78.55 points, or 0.22 percent, to open at 35,835.43 points. The Standard & Poor’s 500 index rose 5.43 points, or 0.12 percent, to 4,580.22 points. The …

Durable Goods Orders in the United States declined 0.4%, or $1 billion, in September to $261.3 billion, the data published by the US Census Bureau showed on Wednesday. This reading followed August’s increase of 1.3% and came in better than the market expectation for a contraction of 1.1%.

Germany’s economy ministry announced on Wednesday that they have lowered the 2021 growth forecast to 2.6% from 3.5% reported in April, per Reuters. Raised 2022 GDP forecast to +4.1% from April forecast of +3.6%. Expecting GDP growth of +1.6% in 2023.

The Bank of Canada (BoC) will announce its monetary policy decisions at 14:00 GMT. here are the expectations as forecast by the economists and researchers of Three major banks TDS “We expect the BoC to argue that the inflation surge is largely transitory, and to hold forward guidance for the …

European shares fell on Wednesday, with mining stocks leading losses after concerns about Chinese government intervention impacting metal prices, while mixed corporate earnings data kept investors on the alert. The pan-European Stoxx 600 index fell 0.2 percent but settled just below its August high. Asian technology stocks fell on an …