Market Update

Oil prices declined on Monday, with economic data in the world’s two biggest economies renewing concerns over the pace of recovery from the coronavirus pandemic, especially with the spread of the Delta variant. Factory production and retail sales in China slowed sharply last month, while in the United States, the …

Gold prices rose on Monday, managing to register its second consecutive daily rise, amid a fluctuating performance by the U.S. Dollar (USD) that also remained mostly in the positive territory, with disappointing economic data giving support to the demand for safe havens. Gold futures for December delivery added $11.70, or …

European stocks finished lower on Monday, opening the week with a negative performance that ends a 10-session record-breaking tally, the longest in about 14 years. Weaker than expected economic indicators in China are weighing on investors’ sentiment and risk appetite, with continuous concerns over the resurgence of the coronavirus with …

Canadian wholesale sales declined by 0.8% on an annual basis in June to CAD 71.5 billion, but 2.1% for the month, below market expectations of a 2.5% increase, according to data by Statistics Canada on Monday. The wholesale sales of building materials and supplies dropped by 5.4%, while sales of …

Manufacturing Sales rose by 2.1% on a monthly basis in June to C$59.2 billion, the data published by Statistics Canada reported on Monday. This reading followed June’s contraction of 0.3% and missed the market expectation for an increase of 2.5%.

Gold prices retreated from their highest level in a week on Monday, August 16 with the dollar’s rise, but easing concerns about the US Federal Reserve’s early cut in stimulus policies, and fears of an outbreak of the Delta strain contributed to the price of the yellow metal remaining near …

The headline General Business Conditions Index of the NY Fed’s Empire State Manufacturing Survey fell sharply to 18.3 in August from 43 in July. This reading missed the market expectation of 29 by a wide margin.

The US dollar settled near a one-week low against the other major currencies on Monday, August 16th, while declining US consumer sentiment hurt bets on an early Federal Reserve monetary policy tightening, while the yuan and Australian dollar fell after disappointing Chinese economic data. There was little change in the …

The US Centers for Disease Control and Prevention (CDC) said that the United States had given more than 356 million doses of Corona vaccines in the country as of Sunday morning, August 15, and distributed more than 415 million doses. The CDC said about 198 million people had received at …

European stocks’ 10-day gains were halted Monday, August 16th, following an unexpected slowdown in China’s economic indicators, with commodity-related stocks posting the biggest loss. The STOXX 600 index of the most important European shares fell 0.5% in early trading, retreating from record levels last week. Oil and mining shares fell …