Market Update

The Turkish economy grew by 21.7% on an annual basis as expected in Q2, recovering strongly from a sharp slowdown a year ago driven by COVID-19 restrictions. Data from the Turkish Statistical Institute showed that the economy grew 0.9% from the previous quarter on an adjusted basis in light of …

Data on Wednesday showed that German retail sales fell much more than expected in July after two months of increases, in the first indication that a consumer-led recovery in Europe’s largest economy could lose some momentum in the third quarter. The Federal Statistics Office said retail sales fell 5.1% month-on-month …

Japanese shares jumped on Wednesday, with the Nikkei index hitting a one-and-a-half month high, as investors bet that a maneuver by Prime Minister Yoshihide Suga could help restore political stability. The Nikkei gained 1.29% to 28,451.02 points, the highest closing level since July 14, after it crossed important resistance levels …

European shares rose on Wednesday as hopes for more stimulus battled fresh signs of weakness in Asian economies, while investors shook off concerns about rising inflation. After seven consecutive months of gains, the pan-European STOXX 600 index started September with a gain of 0.7%, close to its record highs set …

The main indices of Wall Street closed marginally lower on Tuesday with anticipation for major economic data, but finished higher for the month The Dow Jones Industrial Average lost 39.11 or 0.11% to close August at 35,360.73, higher by 1.2%. The S&P 500 decreased by 6.11, or 0.13%, to end …

Oil prices declined on Tuesday, amid increases selling pressures, to end the month with the worst losses since last October. Brent futures for October delivery finished lower by 42 cents or 0.57% at $72.99 per barrel. For the month, Brent futures lost $3.34 per barrel or 4.38% in its worst …

The Vice Chairman of the Swiss National Bank (SNB), Fritz Zurbruegg, said on Tuesday that he expects global interest rates will remain low, Reuters reported. “It is to be expected that the global low interest rate environment will remain unchanged for some time to come.” “Such policy continues to be …

The United Nations has revised its expectations for economic growth in Latin America in 2021, according to the latest data by the Economic Commission for Latin America and the Caribbean (ECLAC). The region is now expected to register a growth rate of 5.9%, amid recovery from the Coronavirus crisis, with …

Silver futures closed nearly unchanged on Tuesday, finishing their third consecutive month in losses and the biggest drop since June. Silver futures lost 6.14% in August, as it closed at $23.960 per ounce. Over the last three months, silver declined by about 14.41%, in the worst losing streak since November …

Gold prices rose on Tuesday, maintaining modest monthly gains for the second month in a row. The yellow metal front-month futures added $6, or 0.33%, to close at $1,815 per ounce. Gold futures added about 0.13% for the month, extending their gains over the two months to 2.5%. However, gold …