Market Update

In its latest review report on China, Moody’s Investors Service noted that “China’s economic rebound will buoy demand for goods and services, lifting companies’ revenue over the next 12-18 months.” “Rising demand for goods and services in China, driven by GDP growth, will boost the earnings of most rated companies …

Despite the relative decline that Bitcoin, the largest digital currency, is witnessing in these moments of trading today, Thursday, speculators for a return to the rise above the $30,000 levels are steadfast, and have so far succeeded in supporting prices. Despite the panic that dominated the markets due to the …

A monitoring from Reuters revealed that Russian oil prices from the Volga River region for local market supplies for July delivery reached a record high, rising about 11% compared to the previous month due to the rise in oil prices in global markets. Traders said that oil for July delivery …

The resistance level published during the last analysis, located around 1797, was able to limit the bullish tendency witnessed by gold prices yesterday, which forced it to trade negatively again within a gradual decline to the downside approaching by a few points from the first official target 1770, recording its …

Inflation in the United States will decline by the end of 2021 to near 2%, the U.S. Secretary of the Treasury, Janet Yellen, said on Wednesday. Speaking in front of a Senate committee, Yellen told lawmakers that economic recovery is on a bumpy path. She believes the recent surge in …

The U.S. Secretary of the Treasury, Janet Yellen, said on Wednesday that Congress should raise or suspend the debt limit as soon as possible. In her testimony against the Senate, Yellen warned that failing to raise or suspend the debt limit would be catastrophic to the economy. The current debt …

Wall Street showed a mixed performance on Wednesday, as markets continue to react to changes in interest rates and the inflation rate. The Dow Jones Industrial Average lost 71.34 points, or 0.21%, to close at 33,874.24 points. The S&P 500 declined by 4.60 points, or 0.11%, finishing at 4,241.84 points. …

Oil prices rose on Wednesday after data showed the fifth consecutive weekly decline in U.S. crude inventories. The prospects of economic recovery and expectations for demand recovery are providing support for crude futures, with the global benchmark Brent restoring the $75 key level. The front month Brent crude futures for …

Gold prices rose on Wednesday and managed to finish net their highest level in about a week, supported by a muted performance by the U.S. Dollar (USD). Recent remarks by the U.S. Federal Reserve Chair Jerome Powell that pointed to no plans to raise interest rates just to combat inflation …

European stocks closed lower on Wednesday, after rising for two consecutive sessions, despite concerns about the Federal Reserve raising rates soon to combat inflationary pressures eased by Chair Jerome Powell. The pan-European STOXX 600 index fell by 3.32 points, or 0.73%, to finish at 453.10 points. The French CAC40 index …