Market Update

The dollar hit a four-month high against the single European currency on Tuesday after strong US jobs data boosted expectations that the Federal Reserve will begin to scale back its massive asset purchase program. Analysts said that the dollar could be supported by higher US bond yields as the likelihood …

Oil prices rose more than one percent, offsetting some of the losses incurred in the previous session when prices hit their lowest level in three weeks, but the gains were likely limited by fears that the rise in Covid-19 cases and the imposition of restrictions in China will negatively affect …

The German ZEW headline numbers for August showed that the Economic Sentiment Index dropped more than expected to 40.4 from 63.3 previous while missing estimates of 56.7. Meanwhile, the Current Conditions sub-index slipped to 29.3. in August as against 21.9 recorded in the previous month and 30.0 expectations.

European shares hit a record high Tuesday, August 10, extending gains for the seventh consecutive session, boosted by travel and leisure companies as investors welcomed reports of strong results. The STOXX 600 index of European shares rose 0.2%, hitting an all-time high of 471.67 points. The travel and entertainment sector …

Japanese stocks closed higher as corporate results continued to have a positive effect, but gains were limited by fears of a fast-spreading delta strain. The Nikkei index closed up 0.24% at 27,888.15 points, after hitting a mid-July peak of 28,128.61 points earlier. The broader Topix index rose 0.36% to 1936.28 …

The main indices of the New York Stock Exchange (NYSE) finished mostly lower on Monday, amid concerns about the spread of the coronavirus Delta variant, with some countries returning to lockdown and preventive measures, casting shadows on the prospects for a strong global economic rebound. The Dow Jones Industrial Average …

Oil prices declined on Monday for the second consecutive session to reach their lowest level in about three weeks. The decline comes amid a rise by the U.S. Dollar (USD) and concerns over the spread of the Delta variant of the Coronavirus, with some Asian countries restoring lockdowns and other …

Gains by the U.S. Dollar (USD) pushed gold prices into a third consecutive decline on Monday, with the yellow metal opening the week on a lower note, amid a weakened demand for safe-haven assets and an improvement in investors’ sentiment. Gold front-month futures declined by $36.60, or 2.08%, and finished …

European stocks finished Monday at another record-high closing level with investors closely monitoring economic indicators and earnings reports. The STOXX Europe 600 index gained 0.71 points, or 0.15%, to close at an all-time high of 470.68 points. The pan-European index has maintained an upwards trend for six consecutive trading sessions, …

The President of the Federal Reserve Bank of Atlanta, Raphael Bostic, said on Monday that the Fed should begin tapering the massive asset purchases following two consecutive months of strong job creation. He believes moving from the current accommodative stance to a more normal policy should be faster than previously …