Market Update

The U.S. Dollar (USD) rose on Thursday to its highest level in four months, supported by the high Treasury bond yields and positive economic data. The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is up by 0.27% at 92.78, after touching …

The operator of the giant container ship that ran aground in the Suez Canal said that there will be another attempt to float the vessel later today after an earlier attempt failed. The ship operator Bernard Schulte, which operates the Evergiven, said in a statement that dredging operations of sand …

The United States’ Real Gross Domestic Product (GDP) expanded at an annual rate of 4.3% in the fourth quarter, the US Bureau of Economic Analysis reported on Thursday. This reading came in better than the previous estimate and market expectation of 4.1%.

There were 684,000 initial claims for unemployment benefits in the US during the week ending March 20, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 781,000 (revised from 770,000) and came in much better than the market expectation …

The EUR/USD pair extended its daily slide and touched its lowest level since mid-November at 1.1797. to be updated …

The dollar rose as European markets opened Thursday (March 25th) after reaching a four-month high against the euro during the Asian session, with market participants focusing on the divergent recovery prospects in the United States and Europe and a dwindling risk appetite. Global stock markets fell to their lowest levels …

The Swiss National Bank (SNB) board members announced a no change to their monetary policy settings after it concluded the December quarter monetary policy assessment on Thursday. The SNB kept the key sight deposit rate steady at -0.75% while maintaining the 3-Month Libor Target Range steady between -1.25% to -0.25%, …

The European Commission introduced new controls on Wednesday, March 24, to restrict exports of coronavirus vaccines from the 27-member bloc. Officials worry that drug companies will fail to meet delivery targets in the coming months. The Commission, the executive arm of the European Union, wants to ensure that member states …

A survey showed that German consumer sentiment improved for the second month in a row as April approaches, supported by easing lockdown measures at the start of March, but a recent decision to extend restrictions has caused uncertainty around expectations. The GFK Research Institute said its consumer sentiment index, based …

Gold prices rose Thursday, March 25th, as an increase in Covid-19 infections in Europe fueled fears about the pace of the economy’s recovery, but the rise of the dollar curbed the gains of the yellow metal. Spot gold increased 0.1% to $1736.51 an ounce and US gold futures rose 0.2% …