Market Update

The United States Federal Reserve Chairman, Jerome Powell, said on Tuesday that the coronavirus (COVID-19) pandemic is still with us and will likely continue for a while. Powell noted that people and businesses have improvised and learned how to adapt and live their lives despite COVID in what he described …

Gold prices declined on Tuesday, registering its biggest loss since the beginning of last week, as the U.S. Dollar (USD) rose against major peers. Markets are seemingly not paying the usual attention to today’s remarks by the Chairman of the United States Federal Reserve, who spoke in an academic virtual …

European stocks returned to gains on Tuesday, closing marginally higher with investors closely following recent economic data that renewed concerns over the pace of recovery with the spread of the Coronavirus Delta variant. The STOXX Europe 600 index added 0.33 points, or 0.07%, to close at 473.78 points. The healthcare …

Business inventories in the United States registered a large increase in June, the U.S. Department of Commerce reported on Tuesday. With a monthly increase of 0.8%, business inventories exceeded the 0.6% growth seen in May. On an annual level, business inventories rose by 6.6%. Retail inventories also leveled up by …

The United States Housing Market Index declined by 5 points to 75 in August, according to data by the National Association of Home Builders (NAHB) and Wells Fargo released on Tuesday. Although the reading remains positive as it is above the 50-point mark, the index has reached its lowest level …

Industrial Production in the United States expanded by 0.9% on a monthly basis in July, the data published by the US Federal Reserve revealed on Tuesday. This print followed June’s increase of 0.2% (revised from 0.4%) and came in better than the market expectation of 0.4%.

Retail Sales in the US declined by 1.1% on a monthly basis in July to $617.7 billion. This reading followed June’s expansion of 0.67% (revised from 0.6%) and came in worse than the market expectation for a decrease of 0.2%. Consumers make up nearly 70% of all activity in the …

On Tuesday, August 17th, the Turkish lira touched its strongest level against the US currency in nearly two weeks after investors’ concerns about a possible further easing in monetary policy eased. The lira reached 8.39 against the dollar, rising from a closing level of 8.4550 on Monday. Last week, Turkey’s …

The European Union statistics office Eurostat said on Tuesday that the eurozone economy grew by 2 percent in the second quarter of the year, confirming its previous reading, as the easing of restrictions related to the Coronavirus stimulated economic activity after a brief recession. In a separate statement, Eurostat said …

The New Zealand dollar fell to its lowest in nearly three weeks on Tuesday, August 17, after the country detected its first case of COVID-19 since February, prompting the government to announce new, short-term public isolation measures. The currency fell significantly in the early hours of trading in Asia, and …