Market Update

The Federal Reserve Bank of Philadelphia reported on Thursday that the headline Manufacturing Activity Index of the Manufacturing Business Outlook Survey dropped to 19.4 in August from 21.9. This reading came in weaker than the market expectation of 23.

There were 348,000 initial claims for unemployment benefits in the US during the week ending August 14, the data published by the US Department of Labor showed on Thursday. This reading followed the previous print of 377,000 and came in better than the market expectation of 363,000.

Moody’s, the credit rating agency, expected in a research note issued today, Thursday, that the global economy is likely to recover by 5.7% this year, after it contracted by 3.6% last year, with the expansion of vaccinations with the Corona vaccine, despite the uneven economic recovery in many regions of …

The eurozone’s current account surplus more than halved in June compared to the previous month, driven by an increase in the services trade surplus. According to data from the European Central Bank on Thursday, August 19, the bloc, which includes 19 countries that deal in the euro, recorded a current …

Oil fell to $66 a barrel on Thursday, the lowest level since May, under the weight of fears of weak demand with an increase in Covid-19 cases, a rise in the US dollar, and a sudden jump in US gasoline stocks. The World Health Organization has warned of the spread …

The dollar rose to a 9-month high on Thursday, as global markets fell after the minutes of the latest US Federal Reserve meeting revealed that policymakers expect to reduce the stimulus related to the Corona pandemic period before the end of the year. The dollar index, which measures the performance …

European shares retreated more than 1%, amid fears of a faster-than-expected global monetary policy tightening, while lower commodity prices dented mining stocks to their lowest level in a month. The pan-European STOXX 600 index fell 1.5%, to its lowest level in two weeks, while mining shares fell 4.2%. Asian stocks …

Gold prices fell today, with the dollar rising to its highest level in months after the minutes of the US Federal Reserve meeting indicated that it will start reducing its pandemic-related stimulus this year. And gold fell in spot transactions 0.5% to $ 1779.52 an ounce. US gold futures fell …

The benchmark indices in the New York Stock Exchange (NYSE) finished lower for the second consecutive session on Wednesday, with Wall Street responding to the Federal Reserve’s July meeting minutes that showed a path to cut back the massive asset purchases before the end of 2021 or in January. The …

Oil prices declined on Wednesday, finishing at the lowest closing level since May, amid concerns over the spread of the coronavirus Delta variant and an expected negative impact on the recovery of energy demand. Earlier today, data showed a large drop in U.S. crude inventories to their lowest level since …