Market Update

Gold prices rose on Thursday, recovering from a brief earlier decline, extending its rising trend to the sixth consecutive session. This is the longest rising streak for the yellow metal contracts since the beginning of the year. Gold is maintaining its gains despite the improvement in risk sentiment, as evident …

European stocks finished Thursday on a higher note, supported by an improved risk appetite and investors seeking to purchase shares at relatively low prices, following the recent drop due to inflation fears. After recent selling pressures, the European stocks markets regained some ground in today’s session, with the pan-European STOXX …

The Federal Reserve Bank of Philadelphia’s business activity index declined to 31.5 this month from 50.2 in April, showing a steep decline in activity. The survey results, published on Thursday, indicated that factory activity plummeted this month, following its best increase in about 50 years last month. The employment index …

Industrial orders in the United Kingdom (UK) rose this month by the fastest pace since December 2017, data showed on Thursday. The industrial orders balance increased to 17 in May from -8 in April, according to the Confederation of British Industry (CBI). During the past three months, the total growth …

Japanese exports recorded in April its largest increase since 2010, increasing hopes for recovery from the impacts of the coronavirus pandemic, official data showed on Thursday. Last month, Japan’s exports grew by 38% on an annual basis, exceeding market expectations of a less than 31% increase, and more than double …

Producer prices in Germany surged in April by 5.2% on an annual basis, official data showed on Thursday. Recent supply disruptions are leading to rising inflation pressure, following a 3.7% increase in producer prices in March, according to the Federal Statistical Office of Germany. On a monthly basis, producer prices …

Applications for new claims of unemployment benefits in the United States declined below 500,000 last week, data showed on Thursday. The initial claims for state unemployment benefits decreased by 34,000 to a seasonally adjusted 444,000 for the week ended May 15, according to the U.S. Department of Labor. This marked …

The new leader of the Office of the Comptroller of the Currency (OCC), an independent bureau within the United States Department of the Treasury, has warned against overconfidence in the banking sector, calling for caution. Michael Hsu, pointed to the recent Archegos Capital fund crisis, which negatively impacted a number …

The Financial Stability Review by the European Central Bank (ECB) showed on Wednesday that the low interest rates are adding to the challenge of zombie companies, noting that recovery will reveal the extent of the problem. According to the report, risks of financial stability are increasing in Europe, especially with …

The main indices of the New York Stock Exchange (NYSE) finished lower on Wednesday, following the release of the United States Federal Reserve’s April meeting minutes, which showed an intention to discuss the future of the large asset purchases in upcoming meetings. Recent mixed economic data and the Fed’s remarks …