Market Update

The Eurozone manufacturing sector activity boosted its pace of expansion in the reported month, the latest manufacturing activity survey from IHS/Markit research showed on Wednesday. The manufacturing purchasing managers index remained steady at 63.1 in June and beat 62.1 expectations. Services PMI jumped to 41-month highs of 58.0 in June …

The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) eased to 64.2 in June versus 64.0 expected and 65.6 – May’s final reading.

The U.S. Dollar (USD) showed a mostly negative performance on Tuesday, turning to losses against major peers after recent remarks by the Chairman of the Federal Reserve Jerome Powell. The Dollar Index (DXY), which measures the greenback against a basket of six international currencies, declined by about 0.18% to 91.73, …

Crude oil inventories in the United States fell by 7.2 million barrels last week, according to estimates by the American Petroleum Institute (API). Meanwhile, the stockpiles of gasoline and distillates rose by 959,000 and 992,000 barrels, respectively. Crude stocks at the storage hub in Cushing, Oklahoma, decreased by about 2.6 …

The New York Stock Exchange (NYSE) closed Tuesday with modest gains, while the Nasdaq index finished at a new record-high closing level. The Dow Jones Industrial Average gained 68.61 points, or 0.20%, to close at 33,945.58 points. The S&P 500 rose by 21.65 points, or 0.51%, and finished at 4,246.44. …

Oil prices declined on Tuesday, after rising for two consecutive days, amid expectations that the Organization of the Petroleum Exporting Countries (OPEC) and its OPEC+ allies might be raising production starting next August. Media reports pointed to discussions about more reductions into the current output cuts to raise production levels. …

Gold prices declined on Tuesday for the sixth time in eight sessions, as the U.S. Dollar (USD) rose against major currencies. Gold futures for August delivery finished lower by $5.50, or 0.31%, at $1,776.30 per ounce. The yellow metal’s most active contract has extended its losses month-to-date to 6.63%. Gold …

European stocks closed higher on Tuesday, with a rebound in commodity prices providing support for the mining and energy sectors. The pan-European STOXX 600 Index gained 0.26% and closed at 456.42 points. Similarly, the blue-chip STOXX 50 index finished higher by 0.26% at 4,123.13. Meanwhile, the UK’s FTSE100 ended the …

Bitcoin is showing recovery from a string of losses, which brought the world’s largest cryptocurrency below $30,000 for the first time in five months. However, the digital currency managed to flip the decline to rise by a little over 1% and reach a level above $33,100. Now, the cryptocurrency is …

Eurozone consumer confidence improved by 1.8 points in June compared with its previous monthly reading, according to data the European Commission released on Tuesday. A flash estimate of the consumer sentiment in the European bloc recorded -3.3 this month from -5.1 in May. On the broader level, consumer confidence across …