Market Update

Gold prices rose Thursday, April 15th, supported by the weak dollar and declining US bond yields, while investors awaited the weekly US jobless claims report and March retail sales data for more clarity on the recovery of the world’s largest economy. Spot gold rose 0.5% to $1744.60 an ounce. US …

European stocks hit a record high Thursday (April 15th) as rising commodity prices lifted mining companies’ shares, while some positive earnings reports dispelled concerns about the pace of immunization from COVID-19 on the continent. The European Stoxx600 index rose 0.3%, gaining for the third session, while mining and travel stocks …

Oil prices stabilized Thursday, April 15th, to hold near the highest level in a month after jumping about 5% in the previous session after the International Energy Agency and OPEC raised oil demand forecasts as major economies recovered from the pandemic. Brent crude rose 4 cents to 66.62 dollars a …

Japanese stocks closed slightly higher Thursday, April 15th, led by cycle-related companies that will benefit from the global economic recovery and banks that have tracked their US counterparts, while a decline in technology shares curbed gains. The Nikkei index rose 0.07% to 29,642.69 points, after briefly retreating after a major …

The New York Stock Exchange (NYSE) finished Wednesday trading session on a mixed note. A rise in Treasury bond yields and the release of the Federal Reserve’s Beige Book, which lowered expectations for economic growth this spring, pressured stocks, especially the tech sector. Moreover, the Beige Book expected a rise …

Oil prices continued to rise in Wednesday, supported by the improved outlook demand from the International Energy Agency (IEA), which raised expectations for global demand for crude this year by 230,000. The IEA expects a 5.7 million-barrel a day growth in the global demand for oil in 2021 compared with …

Forecasts for Germany’s economic growth for this year are expected to be revised lower to 3.7% from 4.7%, Reuters reported citing sources in German economic institutes. The move comes amid preventive measures against the coronavirus pandemic and lockdowns taking longer than previously expected. Meanwhile, the estimated growth rate for 2022 …

The Central Bank of Russia said on Wednesday that it expects inflation rate to gradually decline from its 5.8% peak this month. Last month, consumer prices in Russia recorded their biggest increase since 2016. Accordingly, the Russian central bank decided in March to raise its main interest rate to 4.5%.

Gold prices finished lower on Wednesday, due to a rise in U.S. Treasury bond yields, abolishing all of yesterday’s gains and settling below $1,740 an ounce. A decline by the U.S. Dollar (USD) across the board might have limited the yellow metal’s losses, which might have expanded as Bitcoin exceeded …

European stocks closed mostly higher on Wednesday, amid investors’ optimism about earnings reports. The STOXX Europe 600 index rose by 0.22% to close at 436.71 points. Meanwhile, the UK’s FTSE100 finished higher by 0.71% with expectations for easing lockdowns. In France, the benchmark index CAC40 rose by 0.40%. On the …