Market Update

Gold prices rose on Wednesday for the second consecutive session to close at their highest level in about two months, supported by the decline of the U.S. Dollar (USD). The rapid resurgence of the coronavirus with a third wave of the pandemic is increasing demand for safe havens and negatively …

European stocks rebounded on Wednesday, following their worst daily performance of the year yesterday, supported by a positive sentiment among investors about the earnings reports by major listed companies. The STOXX Europe 600 index rose by 0.65%, after plummeting by 1.9% on Tuesday amid profit making. The French CAC40 index …

The U.S. Dollar (USD) switched to losses on Wednesday, after rising earlier in the session against its peers, after the Bank of Canada (BoC) signaled a sooner than previously expected rate hike. Although the BoC held its key rate unchanged at 0.25%, it now expects to raise interest rates by …

The Bank of Canada (BoC) has decided to maintain its key interest rate unchanged at a record low of 0.25%, as the economy remains in need of support, according to the bank’s statement on Wednesday. Now the Canadian central bank expects to keep the current level of interest rates until …

Treasury bond yields in the United States rose on Wednesday, ahead of an anticipated auction for long-term debt instruments, namely 20-year government bonds. The benchmark 10-year Treasury bond yield increased by a single basis point to 1.572%. As for the 30-year bond yield, it leveled up by one basis point …

Canada’s Consumer Price Index (CPI) increased to 2.2% on an annual basis in March, data by Bank of Canada (BoC) showed on Wednesday. The acceleration in the inflation rate last month comes following a reading of 1.1% in February. Furthermore, the CPI stabilized at 0.5% on a monthly basis. As …

Annual inflation in Canada, as measured by the Consumer Price Index (CPI), rose to 2.2% in March from 1.1% in February. This reading came in slightly lower than the market expectation of 2.3%. On a monthly basis, the CPI stayed unchanged at 0.5%. Moreover, the Bank of Canada’s Core CPI, …

Germany’s Constitutional Court decided on Wednesday to dismiss legal appeals against the European Union’s recovery plan, effectively paving the way for unprecedented stimulus to be rolled out across the region. It is reported that Germany’s highest court raised questions in late March about the European Union’s plan to raise 750 …

Commenting on the bill passed by the US House Judiciary Committee that would open OPEC to antitrust lawsuits over production cuts, Russian Deputy Prime Minister Alexander Novak said that he sees no threat to OPEC+ for now, per Reuters.

The dollar weakened on Wednesday April 21, hovering just above the lowest level in seven weeks in light of the decline in US bond yields, which reduced the demand for currency returns. The US currency, which is considered a safe haven, has received some support from the decline in global …