Market Update

Oil prices declined on Friday falling to keep a perfect score this week after rising for four consecutive sessions, thus limiting their weekly gains. Brent crude futures for June delivery lost 17 cents, or 0.3%, to finish at $66.77 per barrel, registering a weekly rise of 6.1%. Meanwhile, the West …

Gold prices rose on Friday for the second consecutive session to expand their strong weekly gains. A fluctuating performance by the U.S. Dollar (USD) and a decline in Treasury bond yields helped the yellow metal notch its biggest weekly rise since the beginning of the year. Gold futures for June …

European stocks maintained its rally on Friday to new record highs, finishing the week with another positive performance on the back of strong economic data and recovery signs. The STOXX Europe 600 index rose by 0.9% to settle at a new all-time high of 442.20 points. The auto sector, which …

The number of active rigs drilling for crude oil in the United States increased by seven to reach a total count of 344 this week, according to data by Baker Hughes reported on Friday. With natural gas rigs unchanged, the total rig count went up by seven rigs to 439.

The U.S. Index of Consumer Sentiment rose by 1.9% this month to 86.5 from 84.9 in March, and by 20.5% on an annual basis compared with its level in April 2020, data by the University of Michigan showed on Friday. The Current Economic Conditions Index also increased by 4.5% to …

Building permits in the United States increased by 2.7% in March, data showed on Friday. The permits for future homebuilding reached a rate of 1.766 million units last month This increase comes following an 8.8% decline in February. Meanwhile, building permits surged by 30.2% on an annual basis.

Homebuilding starts in the United States surged during March, reaching their highest level in about 15 years, data by the U.S. Department of Commerce showed on Friday. Housing starts increased by 19.4% last month to reach a seasonally adjusted annual rate of 1.739 million units This is the highest reading …

After strong rallies in recent days, the largest cryptocurrency by market value, Bitcoin, has reached levels of $ 64,000. Bitcoin dropped below $ 63,000, but remained above $ 62,000 levels and closed above this level for two consecutive days. Bitcoin fell 3% at $ 62.3K, recording a high of 64.7K …

Data from the European Union statistics office Eurostat revealed today, Friday, that eurozone inflation accelerated, according to preliminary estimates in March, mainly driven by rising costs of services and energy. Eurostat confirmed its earlier estimates that consumer prices in the eurozone, which includes 19 countries, rose 0.9% on a monthly …

The Turkish Central Bank banned the use of cryptocurrencies assets in the purchase of goods and services, pointing to potential “irreparable” damages and great risks in those transactions. In the legislation published in the Official Gazette early Friday, the Turkish central bank said that cryptocurrencies and other digital assets based …