Market Update

The New York Stock Exchange (NYSE) closed mostly higher on Friday, with Wall Street investors’ risk sentiment improving on the back of positive economic data. The Dow Jones Industrial Average gained 237.02, or 0.69%, to close at 34,433.84 points. The S&P 500 index finished at a new record high of …

The Canadian Dollar (CAD) rose against its U.S. counterpart on Friday, supported by the U.S. Dollar’s (USD) decline across the board. The USD/CAD pair declined by 0.20% to reach 1.2299. In the early trading hours of the trading session, around 10:30 AM Eastern Time, the pair was trading at 1.2272, …

Oil prices rose on Friday, extending gains for the fifth consecutive week due to expectations for demand recovery. Brent crude futures for August delivery rose by 62 cents, or 0.82%, its biggest rise since June 21, to close at $76.18 per barrel, rising by $2.67, or 3.63% for the week. …

President of the Federal Reserve Bank of Boston, Eric Rosengren, expects the Fed’s substantial further progress towards achieving targets will likely be met prior to the beginning of next year, prompting reducing asset purchases. Accordingly, the Fed’s conditions for raising interest rates could be met around the end of 2022, …

President of the Federal Reserve Bank of Minneapolis, Neel Kashkari, on Friday expected inflationary pressures to ease and the return of 7-10 million Americans to the labor market. Kashkari was speaking to a virtual even in the Minneapolis Council, saying that the increase in consumer prices is happening as the …

U.S. Treasury bond yields rose on Friday and finished the week higher, after data showed a rise in inflation. The benchmark 10-year Treasury note yield rose by up 8.6 basis points over the course of the weekm and recorded its biggest rise since March 19. The 30-year Treasury bond yield …

Gold prices rose modestly on Friday, as the U.S. Dollar (USD) declined across the board, finishing the week higher for the first time in four weeks. The rise in U.S. inflation provided support for gold amid mixed expectations for interest rates. Gold futures for August delivery gained by $1, or …

European stocks closed higher on Friday, for the second consecutive session, on the back of an improved investors’ sentiment following a slew of positive economic data. The STOXX Europe 600 index rose by 0.13%, its highest rise since May, to finish at 457.63 points, extending its weekly gains to 5.58 …

The number of rigs drilling for crude oil and natural gas in the United States remained unchanged this week, data showed on Friday. The rig count stood at 470 for the week ending June 25, according to the weekly report by Baker Hughes. The number of oil rigs decreased by …

The Australian Dollar (AUD) rose on Friday against its U.S. counterpart, as the U.S. Dollar (USD) continues to fluctuate with markets yet to clearly understand the future path of inflation and the the subsequent changes in interest rates and the broader monetary policy. The AUD/USD pair rose in earlier trades …