Market Update

The US dollar settled near a one-week low against the other major currencies on Monday, August 16th, while declining US consumer sentiment hurt bets on an early Federal Reserve monetary policy tightening, while the yuan and Australian dollar fell after disappointing Chinese economic data. There was little change in the …

The US Centers for Disease Control and Prevention (CDC) said that the United States had given more than 356 million doses of Corona vaccines in the country as of Sunday morning, August 15, and distributed more than 415 million doses. The CDC said about 198 million people had received at …

European stocks’ 10-day gains were halted Monday, August 16th, following an unexpected slowdown in China’s economic indicators, with commodity-related stocks posting the biggest loss. The STOXX 600 index of the most important European shares fell 0.5% in early trading, retreating from record levels last week. Oil and mining shares fell …

Chinese retail sales rose 8.5% in July, less than expected at 11.5%, according to analysts polled by Reuters. Chinese retail sales rose 12.5% in June. Auto-related sales, the largest component of retail sales by value, were the only category to decline in July, declining 1.8% year-on-year. Industrial production grew by …

Oil prices fell more than 1% on Monday, August 16, falling for a third session, after official data showed a slowdown in refining productivity and economic activity in China, in a sign that the new outbreak of Covid-19 is denting the world’s second-largest economy. Brent crude fell 90 cents, or …

The main indices on Wall Street showed a mixed performance this week, with investors focusing on earnings reports and economic indicators, and rising Treasury yields weighing on tech stocks. The Dow Jones Industrial Average rose modestly by 15.53 points to hit a new record high closing level at 35,515.38 points, …

U.S. Treasury bond yields declined on Friday, but still managed to register its biggest increase in two months. The benchmark 10-year Treasury bond yield reached 1.297% on Friday, down from 1.366% on Thursday, recording its highest weekly increase since June 25. Similarly, the two-year note return settled at 0.215% compared …

Oil prices declined on Friday, finishing the week on a mixed note with growing concerns about the spread of the coronavirus Delta variant and the subsequent effect on the recovery of demand for energy. Brent crude futures for October delivery lost 72 cents, or 1%, to finish at $70.59 per …

Gold prices rose on Friday after the dollar declined as the U.S. consumer sentiment dropped to its lowest level in a decade. Accordingly, the yellow metal turned higher for the week as demand for safe havens improved. The U.S. Dollar Index (DXY) which measures the greenback against a basket of …

The U.S. Dollar (USD) declined to its lowest level in about a week against the Japanese Yen (JPY) on Friday, as the greenback declined across the board after data showed a drop in consumer confidence in the United States. The USD/JPY is down for the day by about 0.74% at …