Market Update

Japanese shares closed higher on Thursday, as the broad Topix index hit its highest level in more than six weeks as the country’s vaccination campaign increased activity, raising hopes that the economy will recover from pandemic-related restrictions. The Nikkei index rose 0.39% to 29,058.11 points, while the broader Topix index …

Dogecoin surged on Wednesday after media reports indicated that Coinbase will allow, through its own platform, trading the meme-based cryptocurrency units. Coinbase reportedly announced yesterday that accepting inbound transfers of Dogecoin Coinbase Pro, according to Reuters. Dogecoin surged by more than 30% to exceed $0.41. The world’s sixth largest cryptocurrency, in …

The main indices of the New York Stock Exchange (NYSE) finished higher on Wednesday, supported by positive expectations for economic recovery that led to an improved risk appetite and sentiment among Wall Street investors. Earlier today, the U.S. Federal Reserve’s Beige Book report showed that the economy expanded better than …

Oil prices finished higher on Wednesday at their best level in about two years, as the results of the most recent OPEC+ summit projected stability and positive expectations for demand recovery during the second half of the year. Brent crude futures for August delivery gained $1.1, or 1.6%, to close …

Gold prices rose on Wednesday, restoring its best closing level in about five months, as U.S. Treasury bond yields declined and the U.S. Dollar (USD) erased most of its daily gains. Despite markets seeing optimism regarding economic recovery, the yellow metal continues to maintain a mostly upward trend especially with …

The United States Federal Reserve’s Beige Book showed on Wednesday that the U.S. economy grew at a moderate pace in April and May. The report highlighted expansion compared with the corresponding period of last year, as consumer spending rose on the back of stimulus packages and the rollout of coronavirus …

European stocks finished higher on Wednesday, hitting a new all-time record high, amid improves investors’ sentiment towards economic recovery from the pandemic. The STOXX 600 Europe index gained 0.28% to close at 451.34 points. Meanwhile, the French CAC40 index rose by 0.50% to finish at 6,521.52 points. The German DAX …

The European Central Bank (ECB) said on Wednesday that creating a digital Euro (EUR) could boost global demand for the currency, making it easier for broader use, Reuters reported. “Safety, low transaction costs and bundling effects, could ease international adoption of a currency.” “Transparency or selective privacy would enable better …

Jens Weidmann President of the Deutsche Bundesbank, Member of the Governing Council of the European Central Bank (ECB) said on Wednesday that ECB might be moving towards reducing its bond purchases from polluting companies, within the massive stimulus program. The move signals a change in Weidmann’s position regarding an active …

The United States Federal Reserve might need to start thinking about how and when to reduce the large asset purchases, as the economy recovers from the Coronavirus pandemic, President of the Federal Reserve Bank of Philadelphia, Patrick Harker, said on Wednesday. “We are planning to keep the federal funds rate …