Market Update

Manufacturing Sales in Canada declined by 2.1% on a monthly basis in April, the data published by Statistics Canada revealed on Monday. This reading came in worse than the market expectation for a decrease of 1%.

Biotech company Novavax said today that its COVID-19 vaccine has been shown to be 90.4% safe and effective overall in phase 3 clinical trials for nearly 30,000 participants across the United States and Mexico. Also, it was found that the two-dose vaccine is 100% effective in preventing moderate and severe …

The Turkish lira rose about 0.6% against the US dollar on Monday, ahead of a meeting between the presidents of the United States and Turkey hoping to ease tensions in diplomatic relations. The lira settled at 8.34 per dollar as European markets opened, after closing at 8.4010 on Friday. The …

Today’s data showed that industrial production for the Eurozone exceeded expectations in April thanks to a more than doubled production of durable consumer goods compared to the previous year after economies reopened steadily. The European Union statistics office Eurostat said industrial production in the 19-country Eurozone rose 0.8% month-on-month and …

The dollar maintained its gains today, after recording the largest weekly gain in six weeks, as traders cut bets on the currency’s decline ahead of the upcoming Federal Reserve meeting, which may indicate future changes in US monetary policy. The US central bank begins a two-day policy committee meeting tomorrow, …

Oil prices rose today, continuing the gains that lasted over three weeks, thanks to improved expectations for fuel demand, as Covid-19 vaccinations contributed to lifting travel restrictions, as well as tight supplies. Brent crude rose 51 cents, or 0.7%, to $73.20 a barrel, the highest level since May 2019. West …

Japanese shares rose on Monday as cyclical stocks such as tire makers rose, while Toshiba advanced after the company announced that two board members would be retiring amid a crisis over its governance. The Nikkei index rose 0.74% to 2,9161.80, its highest closing level since May 10. The broader Topix …

It was a week full of data, from the European Central Bank to US inflation figures and Lagarde comments. Here are the week’s highlights and data. Last week’s session observed the US dollar abandon its two-week indecisive phase and establish moderate gains. Gold ended weekly trading in an upward trend, …

The main indices of the New York Stock Exchange (NYSE) finished higher on Friday, with Wall Street investors showing little concern over the recent surge in inflation, as it is likely to be temporary. The Dow Jones Industrial Average closed at 34,479.60 points, rising by 13.36 points, or 0.04%, failing …

Oil prices finished higher on Friday, registering their third consecutive weekly rise, at fresh two-year high levels. Expectations for demand recovery continue to provide support for crude prices as the global economy shrugs off the effects of the coronavirus pandemic. Brent crude futures for August delivery rose by 17 cents, …