Market Update

White House is planning to launch a new “strike force” to combat unfair trade practices, mainly targeting China, Reuters reports, citing senior administration officials.

The German ZEW headline numbers for June showed that the Economic Sentiment Index worsened unexpectedly to 79.8 from 84.4 previous while beating estimates of 86.0. Meanwhile, the Current Conditions sub-index recovered firmly to -9.1 in June as against -40.1 recorded in the previous month and -27.8 expectations.

Data from cryptocurrency management CoinShares released Monday showed that bitcoin funds and products saw a record outflow of inflows last week as investors remained wary of the world’s largest cryptocurrency. Bitcoin outflows amounted to $141 million in the week ending June 4th, representing 8.3% of the net inflows it attracted …

German industrial output unexpectedly fell in April, data showed, in a sign that semiconductor shortages and other supply bottlenecks are undermining the recovery of Europe’s largest economy. The Federal Statistics Office said industrial output fell 1% compared to the previous month, after an increase that was revised down to 2.2% …

European shares rose on Tuesday, June 8, boosted by utilities and telecoms companies, but weak German industrial output and doubts about a UK lifting of restrictions later this month capped gains. The European Stoxx600 index rose 0.2% by euro morning, holding below its highest level ever, while sectors considered more …

Oil prices extended losses on Tuesday, June 8, as Chinese data revealing a decline in the country’s imports of crude in May highlighted concern about the fragility of the global recovery in demand for crude and fuel. Brent crude was down 49 cents, or 0.7%, at $71 a barrel, after …

Gold fell Tuesday, June 8 as the dollar rose, while investors cautiously awaited economic data due this week to assess inflation pressures and the US Federal Reserve’s stance on monetary policy. And gold fell in spot trading 0.1% to $ 1896.94 an ounce, while gold settled in futures trading in …

The New York Stock Exchange (NYSE) showed a mixed performance on Monday, with high Treasury bond yields and anticipation for the upcoming inflation data dominating the market in the beginning of the week. The Dow Jones Industrial Average closed down by about 126 points, or 0.36%, at 34,630.24 points. The …

Treasury bond yields in the United States rose on Monday, with markets gearing up in expectation for the upcoming inflation data. Reflation fears amid fiscal and monetary support with huge stimulus packages have recently resurfaced, despite the Federal Reserve expecting the recent surge in consumer prices to be temporary. The …

Oil prices closed lower on Monday, giving up their two-year highs that were registered by the end of last week. A drop in Chinese oil imports might have discouraged the positive expectations for demand recovery in the coming months. Brent crude futures for August delivery declined by 40 cents, or …