Market Update

Gold prices surged on Thursday, scoring its biggest daily rise in about five months, as the U.S. Dollar (USD) plunged across the board after the Federal Reserve vowed to maintain its accommodative policies until the economy recovers from the coronavirus crisis with a recovery in the labor market. The yellow …

A day after the U.S. Federal Reserve decided to maintain its current policy unchanged in support of economic recovery, the U.S. Dollar (USD) continues to hit multiple-week fresh lows against major currencies on Thursday. The Dollar Index (DXY) that measures the greenback against a basket of six major international currencies …

European stocks logged another record-high closing level on Thursday for the second consecutive session. A number of positive earnings reports helped further push investors’ sentiment and risk appetite. The STOXX Europe 600 index added 2.14 points, or 0.46%, to close at a new all-time closing high of 463.84 points, as …

Natural gas inventories in the United States increased by 36 billion cubic feet for the week ending July 23, the U.S. Energy Information Administration (EIA) reported on Thursday. The increase came below market expectations of a 40 bcf rise. Total natural gas stockpiles reached 2.714 trillion cubic feet, down by …

U.S. pending home sales declined in June by 1.9%, according to data by the National Association for Realtors released on Thursday. The decline came against market expectations of an increase amid a tight supply in the housing market. Meanwhile, May’s reading was revised upwards to show an increase of 8.3% …

The dollar fell to a one-month low on Thursday after the Federal Reserve reassured that a rate hike was still a long way off, giving a major boost to most other currencies from the Australian dollar to the Chinese yuan. China’s efforts to calm stock market jitters precipitated by its …

There were 400,000 initial claims for unemployment benefits in the US during the week ending July 24, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 424,000 (revised from 419,000) and came in worse than the market expectation of …

The United States’ Real Gross Domestic Product (GDP) expanded at an annual rate of 6.5% in the second quarter of 2021, the US Bureau of Economic Analysis’s first estimate showed on Thursday.

Inflation in Germany, as measured by the Consumer Price Index (CPI), jumped to 0.9% (preliminary) on a monthly basis in June from 0.4% in May. On a yearly basis, the CPI rose to 3.8% from 2.2%. Both of these readings came in higher than market expectations.

Estimates from the European Commission showed Thursday, July 29 that economic sentiment in the Eurozone hit a record high in July, but waning consumer optimism and a slowdown in the rate of increase may indicate that the peak is fast approaching. The Commission said in its monthly survey that sentiment …