Market Update

The dollar hit just under a four-month peak against major peers on Thursday as currency traders digest data from the previous day showing that US inflation may be flailing. The dollar index, which measures the performance of the US currency against a basket of six rival currencies, was unchanged at …

Oil prices fell after two days of gains after the United States, the world’s largest oil consumer, urged major producers to increase production, bolstering supply concerns as economies ease restrictions imposed to combat the Coronavirus. Brent crude futures fell 17 cents, or 0.2 percent, to $71.27 a barrel in Asian …

Gold prices rose, as concerns about an early cut in economic support eased after data revealed that consumer price inflation in the United States cooled in July, sending the dollar lower. And gold rose in immediate transactions 0.1% to $ 1753.90 an ounce in Asian trading, after recording its largest …

Japanese stocks fell, after gains for four straight sessions, as chip-related stocks were hit by fears that their best days may be over with supplies returning. The worsening coronavirus infections in the country have negatively affected travel-related sectors, while waning support for Prime Minister Yoshihide Suga has raised further concerns …

Official data revealed that Britain’s economy grew faster than expected at 1 percent in June. A Reuters poll of economists had indicated a 0.8 percent growth in gross domestic product on a monthly basis. The Office for National Statistics also revised its growth estimate for May down to 0.6 percent …

The New York Stock Exchange (NYSE) managed to close mostly higher on Wednesday, with the Dow and S&P 500 indices finishing at new record highs for the second consecutive session, with Wall Street investors focusing on inflation data in the U.S. Earlier, data by the U.S. Department of Labor showed …

Oil prices closed higher on Wednesday, rebounding from early losses that followed news about pressuring OPEC to raise production and the release of the weekly inventory data in the United States. The U.S. is asking the Organization of the Petroleum Exporting Countries (OPEC) to increase production, claiming that the global …

Europe’s stocks finished higher on Wednesday, continuing to hit new record highs as investors focus on earnings reports and economic data. The pan-European STOXX Europe 600 index rose by 2 points or 0.42% to close at 474.32 points, maintaining an upward trend for the eight consecutive sessions. This is the …

Gold prices rose on Wednesday with the decline of the U.S. Dollar (USD) after data showed that inflation in the United States registered 5.4% in July. The yellow metal managed to close higher for the second consecutive day, registering its highest gains since July 29. Gold front-month futures gained $21.60, …

The United States federal budget deficit declined to about $2.5 trillion during the first ten months of the current fiscal year, compared with $2.8 trillion in the comparable period of last year, data showed on Wednesday. The U.S. Department of the Treasury reported that the deficit increased to $302 billion …