Market Update

The European Union has imposed a huge fine on Amazon.com due to violating data protection rules. The e-commerce giant will have to pay a record $886.6 million for processing personal data in violation of the EU’s General Data Protection Regulation (GDPR). A ruling was issued by the Luxembourg National Commission …

Gold prices declined on Friday, as the U.S. Dollar (USD) rebounded from its recent losses, but the yellow metal was able to maintain the key $1,800 level by the end of the week to register weekly gains. Front month futures closed lower by $18.60 or 1.02% at $1812.60 per ounce. …

Europe’s stocks declined on Friday, retreating after closing Thursday’s trading session at a new all-time high, following the release of inflation data and more earnings reports. The STOXX Europe 600 Index lost 2.10 points or 0.45% and closed at 461.74 points. Travel and leisure stocks led today’s decline and plunged …

The U.S. Dollar (USD) is showing some recovery signs on Friday, following steep declines over the past four sessions, which brought the greenback to its lowest level in about six weeks against major currencies. The Dollar Index (DXY) that measures the greenback against a basket of six major international currencies …

Canada’s Real Gross Domestic Product (GDP) contracted at a monthly rate of 0.3% in May, the data published by Statistics Canada showed on Friday. This print followed April’s decline of 0.5% and came in line with the market expectation.

Inflation in the US, as measured by the Personal Consumption Expenditures (PCE) Price Index, stayed unchanged at 0.5% in June, the US Bureau of Economic Analysis reported on Friday. On a yearly basis, the PCE Price Index remained steady at 4%. The annual Core PCE Price Index, the Federal Reserve’s …

Data from the Turkish Statistical Institute showed on Friday that the country’s foreign trade deficit shrank 0.2% year on year in June to $2.853 billion, according to the general trade system. After the trade was severely affected in the same period a year ago by the COVID-19 pandemic, Turkey’s exports …

Japan has decided to expand the scope of the state of emergency to three prefectures near Tokyo, which hosts the Olympic Games, and Osaka prefecture in the west of the country, with an increase in cases of COVID-19 that severely affected the summer games. Tokyo is already subject to its …

The Eurozone economy rebounded 2.0% on quarter in the three months to June of 2021, beating 1.5% expected and -0.3% prior, the first estimate showed on Friday. On an annualized basis, the bloc’s GDP rate expanded by 13.7% in Q2 vs. -1.3% booked in the first quarter of 2021 while …

According to Eurostat’s preliminary reading of the Eurozone CPI report, the annual figure came in at 2.2% in July, outpacing expectations of 2.0% while rising from June’s reading of 1.9%.