Market Update

The US dollar reached a 9-and-a-half month high against its counterparts on Friday, buoyed by concerns that the mutated delta strain of the Coronavirus may delay global economic recovery as central banks begin to roll back pandemic-era stimulus. While moves in the currency markets were much calmer than on Thursday …

Gold prices rose on Friday, as growing concerns about the spread of the delta strain of the Coronavirus and its impact on the economic recovery damaged risk sentiment. And gold rose in immediate transactions 0.3% to $ 1785.93 an ounce before the opening of the European stock exchanges, to rise …

Oil prices stabilized today, moving away from 3-month lows, but still on track for a weekly loss of more than five percent as new lockdowns in countries facing increasing cases of the mutated delta strain of coronavirus dampened the outlook for fuel demand. Investors’ aversion to risks in general also …

European shares halted their decline today, but their main index is still on track to record the worst week since February, due to signs of slowing growth, rising Covid-19 infections, and fears of reducing monetary stimulus earlier than expected. The pan-European Stoxx 600 index rose 0.1 percent, after falling 1.5 …

The Japanese Nikkei index closed at its lowest level in nearly eight months on Friday, led by the decline in shares of automakers and related sectors due to growing concern about the recovery after Toyota cut its global production. The Nikkei index fell 0.98 percent to close at 27,013.25 points, …

Bitcoin was the first cryptocurrency and remains the biggest in terms of market capitalization, however, some market experts now believe that Ethereum (Ether) with its recent surge could one day overtake the number one spot. Ethereum will continue to outperform Bitcoin, said Nigel Green the head of a financial institution, …

The British Pound (GBP) declined on Thursday for the fourth consecutive day, maintaining a negative performance against the U.S. Dollar (USD) since the beginning of the week. The GBP/USD lost 0.82%, its biggest daily loss since June 18, to reach 1.3641, its lowest level since July. Month-to-date the pair is …

The Central Bank of Norway plans to begin tightening its monetary policy as soon as next month. The Norges Bank plans to raise interest rates in September after the Norwegian economy showed more signs of a rebound with the ease of coronavirus lockdown restrictions. As the bank decided to maintain …

Three members of the United States Senate have reportedly tested positive for coronavirus (COVID-19), Bloomberg reported. Roger Wicker (R) of Mississippi, Angus King (I) of Maine, and John Hickenlooper (D) of Colorado announced the test results on Thursday. The three Senators are said to have all been vaccinated against the …

The main indices of the New York Stock Exchange (NYSE) finished Thursday with a mixed performance. Despite a rebound by tech stocks, with the decline in Treasury bond yields, Wall Street remained negatively impacted by the Federal Reserve’s July meeting minutes that indicated plans to scale asset purchases sooner than …