Market Update

The U.S. Dollar (USD) finished Thursday nearly unchanged after fluctuations earlier in the session, following hawkish comments from the Federal Reserve. Recent remarks by Fed Governor Christopher Waller and Vice Chairman Richard Clarida suggested that the central bank could begin scaling back the accommodative policies and move to normalization in …

Oil snapped a three-session losing streak to close higher on Thursday, amid concerns about the spread of the Delta variant of the coronavirus. Brent crude futures for October delivery added 54 cents, or 0.8%, to close at $70.92 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures for September …

U.S. Federal Reserve Governor Christopher Waller said on Thursday that economic recovery is progressing with the labor market showing improvement signs, which could lead to scaling back the accommodative monetary policy soon. Speaking to the American Enterprise Institute, Weller said that he is sure the U.S. economy will recover. “We …

Gold prices declined on Thursday for the second time in three sessions, despite the U.S. Dollar (USD) fluctuating against major currencies. The yellow metal has been under some selling pressures due to profit making and a relative improvement in risk sentiment that provided support for stock markets, with investors monitoring …

European stocks continued to push higher into new record levels on Thursday, with investors monitoring economic data and earnings reports. The STOXX Europe 600 index added 1.74 points, or 0.37%, to close at 469.96 points. The pan-European index has maintained a rising trend for four consecutive sessions, breaking multiple record …

Natural gas inventories in the United States increased by 13 billion cubic feet for the week ending July 30, according to estimates by the U.S. Energy Information Administration (EIA) released on Thursday. Total natural gas stockpiles reached 2.727 trillion cubic feet, down by 542 billion cubic feet compared with the …

There were 385,000 initial claims for unemployment benefits in the US during the week ending July 31, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 399,000 (revised from 400,000) and came in slightly above the market expectation of …

“Remarkable how little headline news there has been on UK economic activity since May.” “Our view is inflation pressures will reduce.” “We don’t see a spike in unemployment when furlough ends.” “Number of unemployed people will be about 250,000 higher than before pandemic.” “Should economy grows as expected, some modest …

Following the Bank of England’s (BoE) decision to leave the policy rate and the Asset Purchase Facility unchanged at 0.1% and £895B, BoE Governor Andrew Bailey will deliver his remarks on the policy outlook.

The Bank of England’s (BoE) Monetary Policy Committee (MPC) decided to leave the benchmark interest rate unchanged at 0.10% following the August policy meeting and kept the Asset Purchase Facility steady at £895 billion as widely expected.