Market Update

U.S. pending home sales increased last month to its highest level since 2005, data showed on Wednesday. The Pending Home Sales Index rose by 8.0% in May to 114.7, according to data by the National Association of Realtors. The surge in the gauge of contracts signed last month came against …

U.S. private payrolls rose more than expected during June, with businesses filling more vacancies to increase production amid demand recovery with the economy reopening, data showed on Wednesday. Private payrolls increased by 692,000 jobs this month, compared with May’s reading of 886,000, which was revised downwards from an initially estimated …

Despite the positive US data on the labor market, and the advance of the US dollar index, the Turkish lira managed to rise strongly against the dollar after days of decline. The data released today also indicates that the trade balance deficit widened on an annual basis by 20.2% during …

Diplomats said EU governments have agreed to add 11 countries, including Saudi Arabia, Jordan and Qatar, to their list of countries that will allow non-essential travel from them. The ambassadors of the twenty-seven countries of the Union agreed to add these countries in today’s meeting, with the decision to take …

Canada’s Real Gross Domestic Product (GDP) contracted at 0.3% in April, the data published by Statistics Canada showed on Wednesday. This reading came in better than the market expectation for a decrease of 0.8%. In March, the Canadian economy grew by 1.3%.

Employment in the US’ private sector increased by 692,000 in June, the monthly data published by the Automatic Data Processing (ADP) Research Institute revealed on Wednesday. This reading followed May’s print of 886,000 (revised from 978,000) and surpassed the market expectation of 600,000.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, the group known as OPEC+, is expected to discuss a potential extension of the oil supply deal beyond April 2022 on Thursday, Reuters reported, citing two OPEC+ sources.

According to a report seen by Reuters, an OPEC+ committee warned of “significant uncertainty” and the risk of a possible disruption to the global oil market after April 2022. The report also showed that the committee, known as the Joint Technical Committee, expects a surplus of oil by the end …

The dollar is set to record its best monthly gain since March on Wednesday, June 30, supported by traders’ concerns ahead of hard-to-predict US jobs data and concern that the delta strain of the Coronavirus will delay the recovery from the pandemic. The dollar gained about 2.5% against a basket …

Eurozone’s annual CPI matched expectations at 1.9% but eased slightly for May as data showed on Wednesday from Eurostat. Core numbers also fell to 0.9% y/y in June versus 1.0% recorded in May. “Looking at the main components of euro area inflation, energy is expected to have the highest annual …