Market Update

The main indices of the New York Stock Exchange (NYSE) finished Thursday higher, despite a weaker than expected GDP growth numbers registered in the second quarter, as Wall Street investors seemed more optimistic about the Federal Reserve vowing to maintain the low-interest rates for the time being. Accordingly, the Dow …

The Canadian Dollar (CAD) capitalized on the decline of the U.S. Dollar (USD) across the board and the surge in crude oil prices to rise to its highest level in about three weeks. The USD/CAD pair declined by about 0.64% and reached the level of 1.2448 by the end of …

Oil prices rose registered their largest rise in a week, joining an upward trend by most commodities amid a decline by the U.S. Dollar (USD). Crude oil futures also continued to be supported by the weekly decline in U.S. inventories, as official data showed on Wednesday, easing recent concerns about …

The Swiss Franc (CHF) surged against the declining U.S. Dollar (USD) on Thursday, amid a broad decline by the greenback that followed the release of the Federal Reserve policy statement. The Fed vowed to maintain its current accommodative policy, keeping interest rates and asset purchases unchanged, and expecting to hold …

Gold prices surged on Thursday, scoring its biggest daily rise in about five months, as the U.S. Dollar (USD) plunged across the board after the Federal Reserve vowed to maintain its accommodative policies until the economy recovers from the coronavirus crisis with a recovery in the labor market. The yellow …

A day after the U.S. Federal Reserve decided to maintain its current policy unchanged in support of economic recovery, the U.S. Dollar (USD) continues to hit multiple-week fresh lows against major currencies on Thursday. The Dollar Index (DXY) that measures the greenback against a basket of six major international currencies …

European stocks logged another record-high closing level on Thursday for the second consecutive session. A number of positive earnings reports helped further push investors’ sentiment and risk appetite. The STOXX Europe 600 index added 2.14 points, or 0.46%, to close at a new all-time closing high of 463.84 points, as …

Natural gas inventories in the United States increased by 36 billion cubic feet for the week ending July 23, the U.S. Energy Information Administration (EIA) reported on Thursday. The increase came below market expectations of a 40 bcf rise. Total natural gas stockpiles reached 2.714 trillion cubic feet, down by …

U.S. pending home sales declined in June by 1.9%, according to data by the National Association for Realtors released on Thursday. The decline came against market expectations of an increase amid a tight supply in the housing market. Meanwhile, May’s reading was revised upwards to show an increase of 8.3% …

The dollar fell to a one-month low on Thursday after the Federal Reserve reassured that a rate hike was still a long way off, giving a major boost to most other currencies from the Australian dollar to the Chinese yuan. China’s efforts to calm stock market jitters precipitated by its …