Market Update

Annual inflation in Canada, as measured by the Consumer Price Index (CPI), advanced to 3.7% in July from 3.1% in June, the data published by Statistics Canada revealed on Wednesday. This reading came in higher than the market expectation of 3.4%. On a monthly basis, the CPI rose to 0.6% …

The dollar fell in Europe on Wednesday but remained at elevated levels as global growth concerns, caused by the ongoing outbreak of the Delta virus, prompted traders to reduce their positions on riskier currencies. At 07:55 GMT, the dollar index, which measures the greenback against a basket of six other …

According to Eurostat’s final reading of the Eurozone CPI report for July, the consumer prices came in at 2.2% on a yearly basis, meeting 2.2% expectations. While the core figures rose by 0.7%. Month-on-month inflation in the region fell 0.1%, in line with the median forecast of economists polled by …

British inflation slowed faster than expected in July, according to official data released on Wednesday, August 18, to 2% on an annual basis, compared to 2.5% in June. Economists polled by Reuters had expected inflation for July to be 2.3%. Official data showed that the rate of inflation in Britain …

Oil prices stabilized on Wednesday, August 18, after four days of decline, while investors were still concerned about the prospects for strengthening the demand for fuel, as the use of railways, aircraft, and other forms of transportation remained restricted in light of the high incidence of Covid-19 around the world. …

Gold prices rose on Wednesday, August 18, to approach a two-week high, as demand for the yellow metal, which is considered a safe haven, was boosted by growing concerns about the fast-spreading delta strain of Covid-19 and its economic impact. Spot gold rose 0.4% to $1,792.42 an ounce, after hitting …

Japanese stocks rebounded Wednesday, August 18th, led by gains in FUJIFILM and other defensive stocks, while the benchmark Nikkei index ended a four-day losing streak, but concerns about the delta strain kept investors on guard. The Nikkei index rose 0.59% to 27,585.91 points, reversing losses incurred earlier when it reached …

The President of the Federal Reserve Bank of Minneapolis, Neel Kashkari, has criticized cryptocurrencies led by Bitcoin, saying that what he saw in crypto assets so far is 95% fraud, hype, noise, and confusion. The Fed official said that he was more optimistic about crypto and Bitcoin five or six …

The U.S. Dollar (USD) rose on Tuesday for the second consecutive session and registered its biggest gains against major currencies since mid-June to settle at its highest closing level since November 4, 2020. The Dollar Index (DXY) measures the greenback’s performance against a basket of six major international currencies increased …

Minneapolis Fed President Neel Kashkari is seeing a lot of slack on the sidelines of the economy, with the U.S. labor market yet to recover, noting that the spread of the Coronavirus Delta variant could possibly slow the rebound. Speaking in an event in Montana on Tuesday, Kashkari reportedly said …