Market Update

The Organization of the Petroleum Exporting Countries (OPEC) announced in its latest monthly report that it left the 2022 world oil demand growth forecast unchanged at 4.15 million barrels per day (bpd), as reported by Reuters. Crude oil prices showed no immediate reaction to this publication and the barrel of …

Oil prices continued to rise on Thursday after a sudden drop in US crude oil inventories in the previous session, while investors awaited the outcome of US-Iran nuclear talks that could lead to a rapid increase in crude supplies in global markets. The price of Brent crude rose 34 cents, …

Gold prices fluctuated within a limited range on Thursday, after hitting a two-week high earlier in the session, as investors awaited US inflation data for indications of the Federal Reserve’s next step towards tightening monetary policy. And the gold price settled in spot transactions at $ 1832.09 an ounce by …

European shares extended gains on Thursday, a day after achieving their best session since the beginning of the year, boosted by the rise of German shares that received a boost from strong quarterly earnings growth for Siemens. Siemens shares jumped 7.3 percent after the company said it was seeing “extraordinary” …

Statistics Canada will release January Consumer Price Index (CPI) data on Wednesday, February 16 at 13:30 and as we get closer to the release time, here are the forecasts by the economists and researchers of three major banks regarding the upcoming Canadian inflation data. NBF “While we expect strong print …

Japanese stocks rose on Thursday as technology shares followed their peers that made solid gains on Wall Street late Wednesday, although caution ahead of US data releases weighed on investor sentiment. The Nikkei index rose 0.42 percent to close at 27,696.08 points, after jumping more than one percent earlier in …

Easing government bond yields weighed on the US dollar, which anyway ended the day with mixed performance across the major currencies. The yield on the US 10-year Treasury note stands at around 1.93%, down from its weekly peak at 1.97%. The GBP/USD pair is unchanged on a daily basis trading …

WTI keeps the previous day’s bounce from short-term key supports around $89.00 during Thursday’s Asian session.Oil grinds higher towards the weekly resistance line, near $89.65 at the latest. Although a clear rebound from the 10-DMA and an upward sloping trend line from January 03, 2022, keeps buyers hopeful to overcome …

Bitcoin and other cryptocurrencies advanced on Wednesday, reversing an earlier pullback. Stocks were also higher, partly due to the decline in Treasury bond yields.Trading volume is starting to tick higher, but still below January highs. Most cryptocurrencies have been significant gainers in the last 24 hours, potentially signaling the market’s …

Oil prices could soar to $120 a barrel if Russia’s crude exports are derailed by tensions with Ukraine, according to projections from JPMorgan.The forecast underscores how a potential invasion of Ukraine would cause wide-ranging ripple effects that would be felt by inflation-weary consumers around the world. Any disruptions to oil …