Market Update

Oil prices declined on Monday for the second consecutive session to reach their lowest level in about three weeks. The decline comes amid a rise by the U.S. Dollar (USD) and concerns over the spread of the Delta variant of the Coronavirus, with some Asian countries restoring lockdowns and other …

Gains by the U.S. Dollar (USD) pushed gold prices into a third consecutive decline on Monday, with the yellow metal opening the week on a lower note, amid a weakened demand for safe-haven assets and an improvement in investors’ sentiment. Gold front-month futures declined by $36.60, or 2.08%, and finished …

European stocks finished Monday at another record-high closing level with investors closely monitoring economic indicators and earnings reports. The STOXX Europe 600 index gained 0.71 points, or 0.15%, to close at an all-time high of 470.68 points. The pan-European index has maintained an upwards trend for six consecutive trading sessions, …

The President of the Federal Reserve Bank of Atlanta, Raphael Bostic, said on Monday that the Fed should begin tapering the massive asset purchases following two consecutive months of strong job creation. He believes moving from the current accommodative stance to a more normal policy should be faster than previously …

The U.S. Dollar (USD) extended gains on Monday, after data showed another surge in job openings in the United States, giving more positive signs of a recovery in the labor market. Data by the U.S. Department of Labor showed that the number of available jobs increased to 10.1 million in …

Bitcoin continued its rally on Monday, surging to its highest level in about three months. Recent news has reassured investors in crypto-assets and improved their appetite for digital currencies, allowing Bitcoin to recover some of its recent losses. The world’s largest cryptocurrency in terms of market capitalization is up for …

The US dollar index managed to maintain the rising pace that it started at the end of the last week’s trading following the release of US labor market data during the month of July, which came in a very strong way better than the market expectations and pushed the US …

China’s central bank said it will maintain a flexible and accommodative prudent monetary policy while prioritizing stability. In its monetary policy implementation report for the second quarter of the year, the People’s Bank of China said it will keep liquidity reasonably plentiful and boost support for technology innovation, small businesses, …

Oil prices tumbled 4% on Monday, continuing their sharp losses incurred last week against the backdrop of the rise in the US dollar and fears that the global recovery in fuel demand may slow due to new restrictions to confront the pandemic in Asia, especially in China. The sentiment was …

Eurozone’s investor sentiment snapped its uptrend and dropped more than expected in August, the latest data published by the Sentix research group showed on Monday. The gauge dropped to 22.2 in August from 29.8 in July vs. a reading of 29.0 expected. The index ended its fifth straight month of …