Market Update

The United States Secretary of the Treasury, Janet Yellen, is calling for higher tax rates, urging business leaders to pay their fair share amid increased government spending on stimulus and economic relief packages to stimulate the economic recovery from the coronavirus pandemic. Yellen said in her speech to the U.S. …

European stocks finished higher on Tuesday, as markets attempt to recover from the recent losses that resulted from concerns about the surge in inflation in the United States. The STOXX Europe 600 index closed higher by 0.28% at 443.55 points, with the travel and leisure sector recovering some of its …

The Canadian market is seeing increasing expectations that the Canadian Dollar (CAD) will maintain its recent against the U.S. Dollar (USD), which is prompting more exporters to adjust their currency hedges, according to a recent report by Bloomberg. Since the beginning of 2021, the loonie gained about 6% against its …

The European Central Bank (ECB) President, Christine Lagarde, said on Tuesday that the economic recovery in the Eurozone remains challenged by uncertainty, which requires continuous support from market authorities. Lagarde believes it is essential that the “monetary and fiscal support are not withdrawn too soon,” ruling out expectations of reducing …

The U.S. Dollar (USD) maintained a negative performance on Tuesday, failing to recover his recent losses against major peers for the third consecutive session as Treasury bond yields stalled. Federal Reserve officials, including Robert Kaplan and Richard Clarida, recently reiterated the message that the central bank does not expect to …

European stocks made new highs after the pandemic, and cyclical heavy national indices benefited from the gradual shift in global investor preferences for value overgrowth. The German DAX also hit an all-time high as the country’s Constitutional Court effectively drew a line under the euro critics’ attempts to halt the …

Housing Starts in the US declined by 9.5% on a monthly basis in April following March’s sharp increase of 19.8% (revised from 19.4%), the data published jointly by the US Census Bureau and the US Department of Housing and Urban Development showed on Tuesday. Further details of the publication revealed that …

The price of gold rose today after the less-than-expected home building permits data. Homebuilding permits decreased to 1,760 million, compared to an expected 1,770 million. Housing Starts fell 9.5% in April. Gold is receiving from the increasing US dollar index its weakness, in light of weak US data, and expectations …

The dollar fell to its lowest level in six years against the Canadian dollar and near its lowest level in several months against European currencies on Tuesday, as US Treasury yields stabilized amid renewed expectations that the United States will not raise interest rates soon. Robert Kaplan, head of the …

Gold prices rose on Tuesday and reached their highest levels in nearly four months during the session, supported by the weakening of the US dollar and investors’ use of the metal, which does not yield a return, to hedge against rising inflation. Spot gold rose 0.2% to $ 1868.30 an …