Market Update

The British Pound (GBP) declined on Thursday for the fourth consecutive day, maintaining a negative performance against the U.S. Dollar (USD) since the beginning of the week. The GBP/USD lost 0.82%, its biggest daily loss since June 18, to reach 1.3641, its lowest level since July. Month-to-date the pair is …

The Central Bank of Norway plans to begin tightening its monetary policy as soon as next month. The Norges Bank plans to raise interest rates in September after the Norwegian economy showed more signs of a rebound with the ease of coronavirus lockdown restrictions. As the bank decided to maintain …

Three members of the United States Senate have reportedly tested positive for coronavirus (COVID-19), Bloomberg reported. Roger Wicker (R) of Mississippi, Angus King (I) of Maine, and John Hickenlooper (D) of Colorado announced the test results on Thursday. The three Senators are said to have all been vaccinated against the …

The main indices of the New York Stock Exchange (NYSE) finished Thursday with a mixed performance. Despite a rebound by tech stocks, with the decline in Treasury bond yields, Wall Street remained negatively impacted by the Federal Reserve’s July meeting minutes that indicated plans to scale asset purchases sooner than …

Oil prices dropped again for the sixth consecutive session, falling to its lowest closing level in about three months. With concerns over economic recovery and the prospects of the U.S. Federal Reserve scaling back support measures, vowing to cut asset purchases soon, and the spread of the Coronavirus Delta variant, …

Gold prices finished lower on Thursday for the third consecutive session as the U.S. Dollar strengthened against major currencies, a day after the release of the Federal Reserve’s July meeting minutes. The yellow metal futures for December delivery lost $1.30, or 0.08%, to finish at $1,783.10 per ounce. The Dollar …

Europe’s stock plunged on Thursday, with markets reacting to the release of the U.S. Federal Reserve’s July meeting minutes that showed plans to cut the massive asset purchases later this year or early the next. A drop in commodity prices also contributed to the losses of the mining sector, with …

U.S. natural gas supplies increased by 46 billion cubic feet (bcf) for the week ending August 13, according to data by the United States Energy Information Administration reported (EIA) on Thursday. The EIA weekly report showed an adjustment stocks classification, reflecting an increase of 42 bcf to a total of …

USD/JPY rose to a one-week high of 110.22 on Thursday but is having trouble maintaining bullish momentum, the pair was little changed on a daily basis at 109.72. The sharp decline in the major European stock indices drove the demand for the Japanese yen on Thursday due to risk aversion …

US stocks opened lower on Thursday on concerns that the Federal Reserve may begin to rein in its massive monetary stimulus program, while commodity-related stocks tumbled as oil and metals prices sank to a multi-month low. The Dow Jones Industrial Average fell 86.02 points, or 0.25 percent, to 34,874.67 points, …