Market Update

European stocks maintained a downward trend on Friday, with the banking and energy stocks leading the losses following the hawkish change in tone by the U.S. Federal Reserve, which prompted concerns about raising interest rates sooner than expected. The STOXX Europe 600 index plunged by 1.58% as it closed at …

The Bank of England (BoE) is expected to begin raising interest rates in the second or third quarter of next year, according to recent forecasts by a number of major banks, Bloomberg reported. The Bank of America Merrill Lynch (BofA) and Credit Suisse previously ruled out a rate hike before …

The European Central Bank (ECB) has extended a EUR 70 billion capital relief measures for Eurozone banks for another nine months. ECB will allow 39 banks to continue excluding holdings at central banks in calculating the mandatory leverage ratios. The measure which helps lenders supply credit amid recovery from the …

OPEC sources said that OPEC officials have heard from industry experts that US oil production growth will likely remain limited in 2021 despite higher prices, giving the organization more leverage to manage the market in the short term before a possible strong increase in shale crude production in 2022. Officials …

Gold prices rose today, Friday, by 1%, as the pause in the dollar’s rise to catch its breath compensated for some of its large losses driven by the US Federal Reserve’s shift towards a monetary tightening tone. Spot gold rose 1.1% to $1,792 an ounce but fell 4.5% for the …

Data from the Public Health Authority in Britain revealed a significant new increase in weekly infections with the Delta strain of the Coronavirus after Prime Minister Boris Johnson decided to postpone the final lifting of the restrictions on the general closure. The Public Health Authority detected 33,630 new infections with …

Oil prices fell for the second session in a row Friday, June 18, as the US dollar rose thanks to the possibility of an increase in interest rates in the United States, but crude is on track to conclude the week with little change and just below its highest levels …

Data from the European Central Bank showed that the Eurozone’s current account surplus widened in April thanks to an increase in the trade surplus and primary income, which includes profits from foreign investment. The 19-nation Euro bloc posted a revised current account surplus of 22.8 billion euros in April, up …

Gold prices rose on Friday, June 18, but are heading towards recording the worst weekly performance since March 2020 after the US Federal Reserve’s shift towards a monetary tightening tone caused the dollar to rise and negatively affected the attractiveness of the yellow metal. And gold rose in spot transactions …

Friday, June 18th, the dollar is set to record its best weekly performance in nearly 9 months as investors raced to consider an end to US monetary stimulus sooner than expected in the days following a sudden shift in the US Federal Reserve’s tone. Since Wednesday, when US central bank …