Market Update

Oil prices continued to plummet, amid uncertainty about the outlook for the OPEC+ agreement and output policies. Major producers are in disagreement about extending the current output cuts, which are gradually being eased, with recent talks about quotas and production levels not leading to a consensus. Brent crude futures for …

Japanese stocks fell Thursday, July 8, before the country announced the re-imposition of a state of emergency to contain the rise in COVID-19 cases, which raised fears of an economic slowdown. The benchmark Nikki index fell by 0.88% to its lowest closing level in more than two weeks at 28,118.03 …

President of the Federal Reserve Bank of Atlanta, Raphael Bostic, has warned that a new wave of the coronavirus pandemic with the Delta variant might hinder or slow the economic recovery, with an impact on consumer demand. “If we see spikes in infections that will likely mean that people are …

The U.S. Dollar stabilized on Wednesday against most major peers, with last month’s Federal Reserve meeting minutes showing caution among monetary policymakers regarding tapering after a surge in inflation that exceeded expectations. The Dollar Index (DXY), which measures the greenback against a basket of six peers, rose by 0.18% to …

Oil prices continued to plummet on Wednesday, amid uncertainty about the outlook for the OPEC+ agreement and output policies. Major producers are in disagreement about extending the current output cuts, which are gradually being eased, with recent talks about quotas and production levels not leading to a consensus. Brent crude …

Gold prices maintained an upwards trend for the fifth consecutive session on Wednesday, despite the rise of the U.S. Dollar (USD) across the board. However, the yellow metal was supported by the drop in U.S. Treasury bond yields to their lowest level since February, amid higher demand for safe-haven investments, …

European stocks closed higher on Wednesday after the European Commission increased its expectations for economic growth in the Eurozone. The European Union is now projecting the Eurozone gross domestic product (GDP) to grow by 4.8% in 2021 and 4.5% for 2022. The STOXX Europe 600 index rose by 3.55 points, …

U.S. consumer confidence declined this month, as the IBD/TIPP Economic Optimism Index dropped 3.7% from 56.4 in June to 54.3 in July. Nevertheless, the index remained in the positive territory, above 50.0, for the seventh consecutive month. The Presidential Leadership Index fell by 8% from 61.2 last month to 56.3, …

Economic activity in Canada expanded last month showing more signs of recovery, Ivey Purchasing Managers Index (PMI) data showed on Wednesday. The Canadian seasonally adjusted Ivey Purchasing Managers’ Index (PMI) increased in June to 71.9 from 64.7 in May. This marked the highest reading for the index since March. The …

Job openings in the United States increased to hit a new record high in May, data by the U.S. Department of Labor showed on Wednesday. The Job Openings and Labor Turnover Survey (JOLTS) monthly report showed that job openings rose by 16,000 to reach 9.2 million by the end of …