The dollar is set to record its best monthly gain since March on Wednesday, June 30, supported by traders’ concerns ahead of hard-to-predict US jobs data and concern that the delta strain of the Coronavirus will delay the recovery from the pandemic. The dollar gained about 2.5% against a basket …
Read More »Eurozone Preliminary CPI Eases to 1.9% YoY in June
Eurozone’s annual CPI matched expectations at 1.9% but eased slightly for May as data showed on Wednesday from Eurostat. Core numbers also fell to 0.9% y/y in June versus 1.0% recorded in May. “Looking at the main components of euro area inflation, energy is expected to have the highest annual …
Read More »Japan Shares Close Lower And Incur Losses in June on Concerns About The Outlook
Japanese stocks fell on Wednesday, June 30, as the highly contagious delta strain of the coronavirus spread in Asia, while the benchmark index suffered losses in June on worries about the economic outlook. The stock market ended the last trading day of the month with a loss for the tenth …
Read More »Gold on Record The Path of The Largest Monthly Decline in Nearly 5 Years
Gold hovered around a two-month low on Wednesday, June 30, as investors awaited US jobs data for greater clarity on the US Federal Reserve’s stance on policy, while the yellow metal headed for its worst monthly decline since November 2016. And gold fell in spot transactions 0.2% to $ 1757.76 …
Read More »EUR/USD Declines for Second Day in Row
The Euro (EUR) declined on Tuesday as the U.S. Dollar (USD) rose across the board with Treasury bond yields rebounding ahead of the jobs data. The EUR/USD pair lost 0.21% to reach 1.1899, its biggest loss and lowest level since June 18. This is the second consecutive daily loss for …
Read More »GBP/USD Closes at Lowest Level Since June 18
The British Pound (GBP) resumed losses against a stronger U.S. Dollar (USD), with the latter rising on the back of a rebound by Treasury bond yields. In addition, the Sterling remains impacted by the uncertainty surrounding plans to reopen the U.K. despite concerns about the coronavirus Delta variant. Today, the …
Read More »Wall Street Close with Modest Gains and New Records
The New York Stock Exchange (NYSE) closed modestly higher on Tuesday, with the technology stocks leading the gains in Wall Street and investors awaiting economic data, especially the upcoming jobs report, to asses the possible impact on monetary policy and interest rates. The S&P 500 and the Nasdaq Composite continued …
Read More »Oil Settles Higher After Choppy Trading
Oil prices fluctuated on Tuesday, recovering from losses before giving up some of its daily gains, but managed to close higher with markets anticipating the coming OPEC+ decision on production policy. Concerns over the rising number of coronavirus (COVID-19) cases in a number of countries continue to limit the effect …
Read More »Gold Plunges to Lowest Level Since April
Gold prices finished lower on Tuesday, as the U.S Dollar (USD) and Treasury bond yields rebounded from recent declines. However, the yellow metal was able to recover from session lows but still closed at its lowest level since April 14. Front Month Gold futures for July delivery lost $17, or …
Read More »European Stocks Finish Higher on Improved Sentiment
European stocks closed higher on Tuesday after data showed economic sentiment in the Eurozone rose to its highest level in about 21 years. The pan-European STOXX 600 index gained 0.31% to close at 456.37 points. The blue-chip EURO STOXX 50 index added 0.43% to finish at 4,107.51 points. The French …
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