Market Update

Natural gas futures on the New York Mercantile Exchange (NYMEX) registered on Thursday its largest rise in about two weeks, maintaining an upward trend for three consecutive sessions, amid expectations for a recovery in the global energy demand. July futures gained 8.50 cents, or 2.55%, to settle at $3.4180 per …

Oil prices finished higher on Thursday, as markets anticipate the upcoming OPEC+ meeting that comes amid a surge in prices due to expectations for stronger demand during the second half of the year, as the global economy is recovering from the coronavirus crisis. Brent crude futures for August delivery rose …

European stocks closed higher on Thursday, as positive economic data provided support for expectations for recovery from the negative impacts of the pandemic. The STOXX Europe 600 index rose by 3.94 points, or 0.87%, to close at 457.04 points. The pan-European index rose for three out of the last our …

Gold prices declined on Thursday, as the U.S. Dollar (USD) rebounded against major currencies, following the release of positive economic data. Positive data also led to improved expectations for economic recovery, reducing demand for safe haven investments. Gold futures for August delivery fell by $6.70, or 0.38%, to finish at …

Working natural gas in storage in the United States rose by 55 billion cubic feet (bcf) last week, according to estimates by the U.S. Energy Information Administration (EIA). The EIA data showed on Thursday that natural gas supplies reached 2.482 trillion cubic feet in the week ended June 18, down …

Inflationary pressures in the United States are temporary but monetary policymakers must be careful in closely monitoring consumer prices, the President of the Federal Reserve Bank of Richmond, Thomas Barkin, said on Thursday. “I do believe we are in the middle of a temporary adjustment cycle during which workers will …

Mortgage rates in the United States surged this week amid expectations that the Federal Reserve could raise interest rates sooner than previously expected, according to data by Freddie Mac. The fixed-rate 30-year mortgage registered an average rate of 3.02% for the week ended June 24. This marked an increase of …

Durable Goods Orders in the United States rose by 2.3%, or $5.7 billion, to $253.5 billion in May, the data published by the US Census Bureau revealed on Thursday. This reading came in weaker than the market expectation for an increase of 2.7% and followed a 0.8% decline recorded in …

There were 411,000 initial claims for unemployment benefits in the US during the week ending June 19, the data published by the US Department of Labor (DOL) showed on Thursday. This reading came in weaker than the market expectation of 380,000 and followed the previous print of 418,000.

The United States’ Real Gross Domestic Product (GDP) expanded at an annual rate of 6.4% in the first quarter, the US Bureau of Economic Analysis reported on Thursday. This reading matched the previous estimate and the market consensus.