Market Update

Gold prices declined on Tuesday, amid anticipation for major economic data, subsequent monetary policy adjustments, and a strong performance by the U.S. Dollar (USD) against major peers. Gold futures lost $35, or 1.91%, to finish at $1795.90 per ounce, giving up the $1,800 level. This is the lowest closing level …

Europe’s stocks markets declined on Tuesday, with investors anticipating Thursday’s meeting and rate decision by the European Central Bank (ECB). Today, the STOXX Europe 600 Index finished lower by 2.32 points or 0.49% at 472.87. The German DAX lost 89.03 points or 0.56%, its worst decline since August 19, closing …

The US stock market opened modestly lower after the Labor Day holiday on Monday.   US major indices opened modestly lower at the start of the North American session on Tuesday. The S&P 500 index was lower by 2.5 points at 4524, while Dow Jones was down by 26.5 points at …

Investor sentiment in Germany fell for the fourth consecutive month in September, a survey showed, as investors expected scarcity of raw materials to slow the recovery in Europe’s largest economy. German ZEW Economic Sentiment fell to 26.5 from 40.4 in August. A Reuters poll had forecast a decline to 30.0. …

Cryptocurrency sell-off widened Tuesday, September 7, while Bitcoin shed nearly 4% while its smaller rival, Ethereum, shed more than 6%. Bitcoin, the world’s largest and most popular cryptocurrency, fell 4% to $50,516, after rising to its highest level since mid-May above $52,000 earlier, in Asian trading. Ethereum fell more than …

A survey showed that investor sentiment in Germany fell for the fourth consecutive month in September, with investors expecting a scarcity of raw materials and a shortage of chips to slow the recovery in Europe’s largest economy. The ZEW Institute for Economic Research said its survey of investor sentiment fell …

German industrial production rose more than expected in July after a three-month decline, data showed, in a sign that factories were overcoming supply bottlenecks that slowed the recovery of Europe’s largest economy. The Federal Statistics Office said industrial production, which includes the construction and energy sectors, increased 1% month-on-month, after …

The European Central Bank’s Governing Council will meet this week to decide on the level of PEPP purchases; analysts expect a reduction after two-quarters of higher purchases. the amount will remain undetermined, but monthly purchases may be reduced to 60 billion euros from the current 80 billion euros. Statements made …

The dollar found support on Tuesday, September 7th, as investors awaited the European Central Bank meeting and US data to learn about policy expectations, while the Australian dollar rose briefly after the Reserve Bank of Australia stuck to its plans to reduce bond purchases. The US currency curbed the euro …

China’s exports grew faster than expected in August thanks to strong global demand, relieving some pressure on the world’s second-largest economy as it tries to overcome many problems on several fronts. The Asian giant made a strong recovery from the repercussions of the Coronavirus, but the economic momentum has weakened …