Market Update

Oil prices jumped more than 3% Monday, August 23, after a seven-day losing streak driven by a weaker dollar, despite demand concerns fueled by an increase in cases of the mutated delta strain of the coronavirus. Brent crude rose $2.17, or 3.2%, to $67.35 a barrel by 09:01 GMT, after …

Monday’s survey showed that the strength of business activity in the eurozone continued this month, but down from the highest pace in two decades recorded in July, as the pace of vaccination campaigns allowed more companies to open their doors and customers venture out of their homes. Activities could have …

European shares rose after their Asian counterparts rose on Monday, August 23 after a brutal sell-off last week on worries about global growth, while investors awaited a series of business data. The STOXX 600 index of European shares rose 0.6% by 07:14 GMT after fears of rising Covid-19 cases and …

Japan’s Nikkei index jumped Monday, August 23, after falling to an eight-month low in the previous session, as auto stocks rebounded from losses after Toyota Motor announced a 40% cut in global production next month. Nikkei climbed 1.78% to 27,494.24 thanks to bargain hunting, after hitting its lowest level since …

Dallas Fed President Robert Kaplan said on Friday that he could change his mind on scaling back the asset purchases soon due to the spread of the Coronavirus Delta variant, which might slow the economic rebound. So far, it is not having a material effect but it could be having …

The main indices of the New York Stock Exchange (NYSE) rebounded on Friday but Wall Street could not recoup their recent losses to finish the week down after the U.S. Federal Reserve signaled plans to scale back asset purchases possibly before the end of the year. Most market sectors showed …

Oil prices declined on Friday, keeping a downward trend that has so far lasted for seven straight sessions, with the rise of the U.S. Dollar (USD) and fears about the spread of the Coronavirus Delta variant and a possible negative impact on demand recovery. Despite the USD edging lower on …

Gold prices settled marginally higher on Friday, maintaining their second consecutive weekly rise despite the U.S. Dollar (USD) maintaining a mostly upward trend with some fluctuations. Gold front-month future contracts for August delivery rose by 80 cents or 0.04% to settle at $1781 an ounce. This marked the first rise …

European stocks rose on Friday but failed to recover from its biggest weekly losses since late February. The STOXX Europe 600 Index added 1.56 points, or 0.33%, in its biggest daily rise since August 11, to close at 468.80 points, snapping a four-week rising streak with a weekly loss of …

Cryptocurrencies are rising across the board with increased investors’ demand and news about investment inflows from institutions. Coinsbase reportedly plans to invest $500 million in cryptocurrencies and invest future returns in a portfolio of crypto assets. The world’s biggest and most famous cryptocurrency, Bitcoin, rose by about $3,228 or 7% …