Market Update

Manufacturing Sales rose by 2.1% on a monthly basis in June to C$59.2 billion, the data published by Statistics Canada reported on Monday. This reading followed June’s contraction of 0.3% and missed the market expectation for an increase of 2.5%.

Gold prices retreated from their highest level in a week on Monday, August 16 with the dollar’s rise, but easing concerns about the US Federal Reserve’s early cut in stimulus policies, and fears of an outbreak of the Delta strain contributed to the price of the yellow metal remaining near …

The headline General Business Conditions Index of the NY Fed’s Empire State Manufacturing Survey fell sharply to 18.3 in August from 43 in July. This reading missed the market expectation of 29 by a wide margin.

The US dollar settled near a one-week low against the other major currencies on Monday, August 16th, while declining US consumer sentiment hurt bets on an early Federal Reserve monetary policy tightening, while the yuan and Australian dollar fell after disappointing Chinese economic data. There was little change in the …

The US Centers for Disease Control and Prevention (CDC) said that the United States had given more than 356 million doses of Corona vaccines in the country as of Sunday morning, August 15, and distributed more than 415 million doses. The CDC said about 198 million people had received at …

European stocks’ 10-day gains were halted Monday, August 16th, following an unexpected slowdown in China’s economic indicators, with commodity-related stocks posting the biggest loss. The STOXX 600 index of the most important European shares fell 0.5% in early trading, retreating from record levels last week. Oil and mining shares fell …

Chinese retail sales rose 8.5% in July, less than expected at 11.5%, according to analysts polled by Reuters. Chinese retail sales rose 12.5% in June. Auto-related sales, the largest component of retail sales by value, were the only category to decline in July, declining 1.8% year-on-year. Industrial production grew by …

Oil prices fell more than 1% on Monday, August 16, falling for a third session, after official data showed a slowdown in refining productivity and economic activity in China, in a sign that the new outbreak of Covid-19 is denting the world’s second-largest economy. Brent crude fell 90 cents, or …

The main indices on Wall Street showed a mixed performance this week, with investors focusing on earnings reports and economic indicators, and rising Treasury yields weighing on tech stocks. The Dow Jones Industrial Average rose modestly by 15.53 points to hit a new record high closing level at 35,515.38 points, …

U.S. Treasury bond yields declined on Friday, but still managed to register its biggest increase in two months. The benchmark 10-year Treasury bond yield reached 1.297% on Friday, down from 1.366% on Thursday, recording its highest weekly increase since June 25. Similarly, the two-year note return settled at 0.215% compared …