Market Update

Gold prices decreased on Friday, limiting its fourth consecutive weekly rise, amid fluctuations by the U.S. (USD) that seem to be struggling for direction after the recent remarks by the Federal Reserve Chair Jerome Powell relatively eased concerns about the recent surges in inflation. Gold futures front-month contracts for July …

The number of active oil and natural gas rigs in the United States increased for the third consecutive week, for the first time since May, despite the recent drop in crude prices, data by Baker Hughes showed on Friday. The total rig count rose by five to 484 in the …

Europe’s stocks closed lower on Friday, nearly doubling their weekly losses amid concerns about the resurgence of the coronavirus pandemic with the spread of the Delta Variant. STOXX Europe 600 lost 1.46 points or 0.32% to close at 454.74, registering its third consecutive daily decline, down for the week by …

Business inventories in the United States increased by 0.5% in May, according to official data. The increase came above the expected 0.1%, with businesses aiming to cope with the rising demand as the economy reopens and shows more signs of recovery from the coronavirus pandemic (COVID-19). Moreover, the ratio of …

Wholesale sales in Canada increased in May for the third consecutive month, setting a new record, according to data by Statistics Canada. The wholesale sales rose 0.5% in May to reach $72.2 billion, supported by the growing sales of food and machinery. Food sales leveled up 3.3% to $11.4 billion, …

The dollar, when tracked by the US dollar index DXY, expands optimism in the second half of the week and approaches monthly tops around 92.80, and the index advances for the second consecutive session and trades near the monthly peak located in the 92.80 / 85 range, always on the …

Retail Sales in the US rose by 0.6% to $621.3 billion in June following May’s contraction of 1.7% (revised from -1.3%), the data published by the US Census Bureau revealed on Friday. This reading came in better than the market expectation for a decline of 0.4%.

The number of people killed in floods in western Germany jumped to 103, from 93, bringing the total number of flood victims in western Europe to at least 117, the authorities said on Friday, while Germany’s largest electricity distribution company (SE:5110) said that 114 were out of power. A house …

Oil prices rose on Friday but were still heading for their biggest weekly decline since at least May, as expectations of increased supplies spooked investors. Brent crude rose 37 cents, or 0.5%, to $73.84 a barrel, and is set to lose 2.3% this week, the biggest weekly decline since May. …

Official data on Friday confirmed a slowdown in eurozone inflation in June after a steady acceleration in the first months of 2021, while the bloc’s trade surplus narrowed in May due to a decline in exports. The European Union statistics office Eurostat said consumer prices in the 19-nation currency bloc …