Market Update

Russia’s central bank announced on Friday that it hiked its policy rate by 50 basis point to 5.5% following its June policy meeting.

After a week of anxious waiting, the markets received the high US inflation number they had been dreading, then shrugged it off and moved on, leaving the USD under pressure and most of the major currencies stuck in tight ranges. In early trading in the Asian session, the dollar incurred …

Oil prices fell on Friday, June 11, but are heading to rise for a third week, thanks to expectations of a recovery in fuel demand in Europe, China, and the United States, as increased vaccination rates lead to easing restrictions imposed due to the Corona pandemic. Brent crude futures were …

European shares extended gains for the sixth session Friday, June 11, supported by hopes that major central banks will continue to pursue an accommodative monetary policy despite signs of rising inflation, while gains in mining and travel companies lent support to indexes in the region. The Stoxx600 index of European …

Gold prices rose above $1,900 an ounce Friday, June 11th, supported by a weaker dollar and lower Treasury yields, after data showing high inflation in the United States was deemed insufficient for the US Federal Reserve to change its monetary policy. And gold rose in spot transactions 0.1% to $ …

Japanese stocks closed slightly lower Friday, June 11th as losses incurred by cyclical stocks, as well as banks and real estate companies offset gains made by the technical heavyweights in the market. The Nikkei index fell 0.03% to 28,948.73 points, while the broader Topix index fell 0.14% to 1954.02 points. …

The New York Stock Exchange (NYSE) finished higher on Thursday, with the S&P 500 closing at a new record high, with Wall Street investors seemingly showing no concern over the surge in inflation that was shown by the consumer price data for last month. The Dow Jones Industrial Average rose …

The Euro (EUR) registered marginal losses against the U.S. Dollar (USD) on Thursday, erasing most of its gains on Wednesday. The EUR/USD pair declined by about 0.02% to reach the 1.2177 level, following a series of fluctuations due to various factors affecting the market. On one hand, the European Central …

The British Pound (GBP) declined against the U.S. Dollar (USD) on Thursday, after data showed a surge in the inflation rate in the United States. The GBP/USD pair maintained its downward trend for the third consecutive day, failing by about 0.17% to 1.4094. The Sterling rose earlier in the session …

Oil prices closed higher on Thursday to recover from yesterday’s losses that followed the large surge in gasoline inventories in the U.S, and restore its highest level in more than two years. Brent crude futures for August delivery rose by 30 cents, or 0.4%, to close at $72.52 per barrel, …