Market Update

The headline Regional Business Activity Index of the Federal Reserve Bank of Philadelphia’s Nonmanufacturing Business Outlook Survey fell sharply to 9.6 in September from 39.1 in August.

Housing Starts in the US rose by 3.9% on a monthly basis in August after declining by 7% in July, the data published jointly by the US Census Bureau and the US Department of Housing and Urban Development showed on Tuesday.

The Bank of Japan (BoJ) will announce its policy decision on Wednesday, September 23 at 05:00 GMT. here are the expectations forecast by three major banks. SocGen “Given that the fifth wave of the coronavirus has begun to be contained, we expect that the BoJ will maintain its current main …

UAE Minister of Energy Tuesday, September 21, said that low gas prices are not sustainable, stressing that the recent increase occurred because of the key factors of the market, in addition to the lack of investment in the sector. Minister Suhail Al Mazrouei said at a sector conference in Dubai …

Japanese stocks tracked the decline in global markets, closing lower on Tuesday, as investors abandoned risky assets on fears of a possible default by China’s Evergrande Group, but some buying to seize opportunities helped limit losses. The Nikkei index fell 2.17 percent to close at 2,9839.71 points, its biggest drop …

Oil prices rose on Tuesday, September 21, after analysts pointed to signs of tight US supplies, ending a series of losses that lasted for days, while global markets still haunted by the specter of the potential impact on the Chinese economy from the crisis of the debt-burdened real estate group …

A looming debt-related default by Chinese Evergrande Group has suddenly shook up financial markets from Asia to Europe and the United States. On Monday, major banks were told that they will not collect interest payments on loans that are outstanding, while interest payments of USD 84 million on the company’s …

American Fintech products launched to push EVs   Mainly to address climate change, Spring Free EV will launch fintech products to accelerate the adoption of electric vehicles. Led by entrepreneur and former Sidecar founder and CEO Sunil Paul, the company has assumed the bold mission to reduce carbon dioxide emissions …

Janet Yellen renewed, Monday, her call for Congress to raise or suspend the nation’s debt before October. The U. S. Treasury Secretary has warned that failure to do so may trigger an unprecedented financial crisis in the United States.“The U.S. has always paid its bills on time,” Yellen wrote in …

Euro declined against the U. S. dollar on Monday as dollar firmed ahead of a week that will witness several central bank meetings globally.Immediate resistance can be seen at 1.1738 (50%fib), an upside break can trigger rise towards 1.1771(61.8%fib).On the downside, immediate support is seen at 1.1697(38.2%fib), a break below …