Market Update

Oil prices rose Wednesday, April 7, thanks to the possibility of stronger global economic growth in light of an increase in vaccinations and a report stating that crude stocks in the United States, the largest consumer of fuel in the world, fell. But optimism about talks between the United States …

The German Statistics Office said that the country’s public sector deficit amounted to 189.2 billion euros in 2020 due to the Coronavirus pandemic, the first deficit since 2013 and the highest in the budget since the reunification of Germany thirty years ago. The pandemic, which killed more than 77,000 in …

Gold prices jumped about 1% to the highest level in more than a week today, Tuesday, supported by the decline in the dollar and US Treasury yields. Gold recorded in immediate transactions 1743.20 dollars per ounce at the end of the trading session, up 0.86%, after it earlier jumped to …

The American Petroleum Institute data showed that crude oil inventories in the United States fell last week, while fuel inventories rose. The data revealed that crude inventories fell 2.6 million barrels in the week ending April 2, while gasoline inventories increased 4.6 million barrels. Distillate stocks, which include diesel and …

President of the Federal Reserve of Dallas said on Wednesday that the Fed should start pulling back from its monetary easing policies shortly after the end of the Coronavirus pandemic, which could spur strong growth, Reuters reported. The U.S. Federal Reserve should then start by tapering the pace of its …

Cryptocurrencies continue to see growing interest and demand from both retail and institutional investors. Recent data by Coinshares indicated that investment inflows into cryptocurrency funds hit a new record high of $4.5 billion during the first quarter (Q1) of 2021, Reuters reported. Q1 inflows registered an 11% quarterly increase compared …

Crude oil inventories in the United States declined last week by 2.6 million barrels, according to estimated by the American Petroleum Institute (API). Meanwhile, gasoline stockpiles rose by about 4.5 million in the week ended April 1, while distillate inventories grew by roughly 2.8 million barrels.

The main indices of the New York Stock Exchange (NYSE) closed Tuesday lower, due to the rise in the benchmark 10-year U.S. Treasury bond yield to about 1.65%. The Dow Jones Industrial Average lost 96.95 points, or 0.29%, to close at 33,430.24 points. Meanwhile, the S&P 500 index fell by …

Crude oil prices rose on Tuesday, supported by signs of economic recovery and positive expectations for the global economy this year. Recent economic data in the U.S. and China, the biggest two economic in the world, signaled a recovery from the negative impacts from the pandemic. In addition, the International …

Gold prices rose on Tuesday for the fourth consecutive session, supported by the decline of the U.S. Dollar (USD) and Treasury bond yields, nearing a return to the $1,750 level and closing at its best level in about five weeks. The yellow metal futures for June delivery gained $14.20, or …