Market Update

The Iraqi Oil Minister said that the price of oil between 75 and 80 dollars per barrel is a fair price for producers and consumers, adding that his country seeks to raise its production and export capacity in the coming years. Oil prices topped $83 a barrel on Wednesday, their …

The dollar rose on Wednesday, on concern that higher energy prices would spur inflation and raise interest rates, as traders awaited US jobs data for clues about the timing of the Federal Reserve’s tightening of policy. The New Zealand dollar fell 0.9% to $0.6891, and the Australian dollar fell 0.7% …

As expected, the Reserve Bank of Australia (RBA), at its October meeting, decided to maintain the cash rate target at 0.10% and the interest rate on Exchange Settlement balances of 0%; maintain the target of 0.10% for the April 2024 Australian Government bond; continue to purchase government securities at the …

Data showed that retail sales in the eurozone missed expectations in August, as consumers curbed spending on food, beverages, and tobacco. The European Union statistics office Eurostat said retail sales, an indicator of consumer demand, in the 19 euro-denominated countries rose 0.3 percent month-on-month in August, unchanged from the previous …

European shares fell more than 1% on Wednesday, as rising oil prices intensified concerns about rising inflation, and investors shifted from high-growth technology stocks to banking stocks. After rising late on Tuesday, the pan-European STOXX 600 index fell 1.2%, with the technology sector down more than 2%. Banking shares fell …

Gold prices retreated to extend losses, affected by the rise in the dollar and US Treasury bond yields ahead of the release of US non-farm payrolls data. And gold fell in spot transactions 0.5% to $ 1750.51 an ounce, while US gold futures fell 0.7 percent to $ 1749.40. The …

Japan’s Nikkei index reversed course to close at its lowest level in more than 6 weeks, weighed by concerns about rising interest rates, a slowdown in China, and the country’s new prime minister with low approval ratings. The Nikkei index fell 1.05% to close at 2,7528.87 points, its lowest level …

During a White House speech on the government debt conflict, U. S. President Joe Biden warned the U.S. is at risk of exceeding the legal limit on its debt in two weeks and running out of cash.A measure has been recently passed to temporarily suspend the debt limit and fund …

Treasuries fell on Tuesday as investors focus on the assessment of the state of the U. S. economy before important payroll report Friday.Rising yields have increased market-implied inflation expectations. Breakeven inflation rate for 10-year TIPS approaches 2.5%. The U.S. Treasury yields climbed Tuesday as rising energy prices stoked inflation fears. …

Facebook shares have bounced by 2.1% one day after taking a beating as services resumed following outage.Tech and financial companies Apple, Microsoft, Amazon and Alphabet are significantly among top advancers, each rose more than 1% following a selloff in growth stocks the day before. PepsiCo gains on raising annual revenue …