Market Update

German industrial orders rose for the third consecutive month in March, supported by domestic demand, data showed, in a new indication that manufacturers in Europe’s largest economy are likely to cushion the impact of lower household spending linked to the lockdown measures. The data published by the Federal Statistics Office, …

The Bank of England’s (BoE) Monetary Policy Committee (MPC) decided to leave the benchmark interest rate unchanged at 0.10% at its May policy meeting and kept the Asset Purchase Facility steady at £895 billion as widely expected.

Oil prices retreated after they rose earlier Thursday, May 6, under pressure from increased cases of Covid-19 in India and elsewhere, despite a drop that greatly exceeded expectations for US crude stockpiles. Brent crude futures fell 28 cents, equivalent to 0.4%, to $ 68.68 a barrel, and US West Texas …

Data showed retail sales in the eurozone rose more than expected in March, indicating pent-up demand among consumers as the pandemic eases. The European Union statistics office Eurostat said that retail sales in the 19 countries that use the euro jumped 2.7% month over month in March and 12% year …

Gold prices rose Thursday, May 6, as a decline in US Treasury bond yields offset pressure from the dollar’s ​​rally, while investors awaited US non-farm payrolls data for April, which is scheduled for release later this week. Spot gold rose 0.2% to $1789.22 an ounce. US gold futures advanced 0.2% …

Japanese stocks rose Thursday, May 6, to record their largest percentage gain in two weeks, as investors flocked to stocks linked to the economic cycle after Wall Street’s gains, but technology stocks that tracked the fall of the Nasdaq index limited the gains. The Nikkei index advanced 1.8% to close …

The United States Federal Reserve Vice Chairman, Richard Clarida, said on Wednesday that time is yet to come for reducing the massive bond-buying or raising the historically low-interest rates. Speaking on behalf of the central bank, Clarida told reports “we will get more data, and as we move through the …

Oil prices showed a mixed performance on Wednesday, following the release of the weekly inventories report in the United States. Another increase in gasoline stockpiles increased worries about demand recovery. Brent crude futures for June delivery added 8 cents, or 0.1%, to reach $68.96 a barrel. Meanwhile, the U.S. West …

Gold prices rose on Wednesday after declining yesterday due to comments about the U.S. Treasury Secretary that suggested nearing an interest rate hike. The U.S. Secretary of the Treasury, Janet Yellen, is also the former leader of the Federal Reserve. She was the central bank’s first Chairwoman. Yellen walked back …

European stocks recovered on Wednesday with their best daily performance in about two months. The pan-European STOXX 600 index gained 1.8%, with the basic resources sector surging by 4.7% to its highest level in about 10 years, while the tech sector added 2.7% to recovery some of its recent sharp …