Market Update

The U.S. Dollar (USD) is rebounding, after spending most of Tuesday in the negative territory, as investors are adjusting their positions, thus easing selling pressures. In addition, Treasury bond yields leveled up, providing support for the greenback. The Dollar Index (DXY) is now marginally higher for the day by 0.03% …

Canada’s Real Gross Domestic Product (GDP) expanded at a monthly rate of 0.7% in June, the data published by Statistics Canada showed on Tuesday. This reading came in line with the market expectation.

The Housing Price Index released by the US Federal Housing Finance Agency (FHFA) arrived at +1.6% in June following May’s increase of 1.8%. This reading fell short of the market expectation of 2.1%.

The dollar approached a 3-week low against a basket of currencies on Tuesday, August 31, as investors looked to this week’s US jobs data for clues about the timing of stimulus cuts. The dollar has been on the decline since US Federal Reserve Chairman Jerome Powell’s statement at Jackson Hole …

Gold rose on Tuesday to a four-week high hit in the previous session, supported by a weak dollar and falling US Treasury yields, as investors awaited the US non-farm payrolls data due later this week. Gold in the spot market rose 0.3% to $ 1815.11 an ounce by 0848 GMT, …

Official data revealed on Tuesday, August 31, that the unemployment rate in Germany fell more than expected in August, as the recovery continued in Europe’s largest economy despite the increase in Covid-19 infections. The Ministry of Labor stated that the number of unemployed decreased by 53,000, after adjusting for seasonal …

Data from the Turkish Statistical Institute showed that the country’s foreign trade deficit rose 51.3% year on year in July to $4.278 billion according to the general trade system. The institute said that after the damage to trade a year ago due to the Corona pandemic, Turkey’s exports rose 10.2% …

European shares rose on Tuesday, August 31, heading towards the seventh consecutive month of gains, as hopes of adopting more policies to support the economy outweighed the economic risks associated with the increase in cases of Covid-19 disease due to the spread of the delta strain around the world. The …

The main indices of the New York Stock Exchange (NYSE) closed mostly higher on Monday, with S&P 500 and the Nasdaq hitting new fresh closing record highs in the first session of the week. Wall Street investors showed an increased appetite for technology stocks. The Dow Jones Industrial Average lost …

Most cryptocurrencies are showing a negative performance on Monday, led by Bitcoin. The world’s largest digital currency in terms of market capitalization is trading down for the day by 3.87% at $46,761.30, extending its losses over the past seven days to 5.3%. Meanwhile, Ethereum and XRP are down by 0.7% …