Market Update

The sales of new single-family homes in the United States declined last month, data showed on Monday. New home sales fell by 6.6% to a seasonally adjusted annual rate of 676,000 units in June, according to the U.S. Department of Commerce. In addition, May’s reading was revised downwards to 724,000 …

The benchmark 10-year US Treasury yield fell to 1.23% on Monday, returning to a 5-month low. Investors await the Federal Open Market Committee’s meeting later in the week for more clues on the Fed’s next moves, stimulus, and the economic outlook. Concerns about the rapid spread of the delta variant …

Gold prices surged, boosted by lower US bond yields and worries about higher delta infections, as investors look ahead to this week’s fed meeting. Spot gold rose 0.3% to $1,806.80 an ounce. And US gold futures rose 0.3% to $ 1806.70. The rise in Covid-19 infections continued at the weekend, …

A survey showed on Monday that the IFO index of business confidence recorded a surprise decline in July, as concerns about the supply chain persisted and amid a rise in Coronavirus infections. The Ifo institute said its business climate index fell to 100.8 from 101.7 after being revised in June. …

European shares fell from their highest levels ever, after fears of regulation plunged into stock markets in Asia, while shares of automakers fell after a strong performance last week. The pan-European Stoxx 600 index fell 0.4%, with auto stocks leading losses. Porsche shares fell 4.5% as shares were traded without …

Oil prices fell nearly a dollar on Monday as concerns about demand caused by the spread of mutated strains of the Coronavirus, as well as torrential rains in China, dispelled expectations of tight supplies for the rest of the year. Brent crude futures for September delivery fell 95 cents, or …

Japanese shares closed higher on Monday, tracking gains in global stock markets thanks to positive corporate results, but the gains were curbed by concerns about global Covid-19 cases that could weaken the country’s economic recovery further. The Nikkei rose 1.77% in early trading after a four-day weekend that saw the …

The safe-haven yen and the US dollar started the week on the rise against more risky currencies such as the Australian dollar, as the rise in Covid-19 cases and the decline of stocks in Asia led to a state of caution ahead of the Federal Reserve (US Central Bank) meeting …

The United States is the “inventor of coercive diplomacy”, China’s vice foreign minister Xie Feng told U.S. Deputy Secretary of State Wendy Sherman on Monday, according to a statement on the foreign ministry website.

Cryptocurrencies rallied strongly today, with Bitcoin surge during the morning by more than 15%, on news that Amazon may be adding cryptocurrencies as a payment method. Elon Musk tweeted that this is the “big bang.” The e-commerce giant is reportedly hiring experts for blockchain and cryptocurrency payments among the latest …