Market Update

The U.S. Dollar (USD) saw a mixed performance on Wednesday, but managed to finish March and the First Quarter (Q1) of the year with large gains. Today, the greenback reached its highest level against the Japanese Yen (JPY) in about a year, supported by improved sentiment about economic recovery, however, …

The U.S. Dollar (USD) share of global currency reserves declined to its lowest level since 1995 during the fourth quarter (Q4) of 2020, according to data by the International Monetary Fund (IMF) released on Wednesday. However, the USD continued to account for more than half of currency reserves, reaching a …

Gold futures rose on Wednesday, supported by the decline of the U.S. Dollar (USD) across the board. Nevertheless, the yellow metal futures continue to be impacted by the strong USD and high Treasury bond yields, which reflected negatively on gold’s performance during the first quarter (Q1) of the year. Gold …

Oil prices fell on Wednesday after the Organization of the Petroleum Exporting Countries (OPEC) and its allies lowered their forecast for the growth of oil demand in 2021. Brent crude futures for May delivery lost $0.60, or 0.94%, to settle at $63.54 per barrel. Meanwhile, the U.S. West Texas Intermediate …

The U.S. Dollar (USD) recovered some of its earlier losses on Wednesday, but remained in the negative territory. The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is down by 0.09% at 93.21. Earlier today, the index declined as low as 92.99, …

European stocks finished lower on Wednesday, after a 30% decline by the debutant Deliveroo stock on the London Stock Exchange (LSE) weighed on the market. The STOXX Europe 600 index declined by 0.24% at 429.60 points, remaining near it all-time record closing level seen on February 19, 2020, at 433.90 …

Pending home sales in the United States declined in February for the second consecutive month, data by the National Association of Realtors showed on Wednesday. The Pending Home Sales Index declines by 10.6% last month compared with its level in January. On an annual basis, pending home sales decreased by …

The private sector in the United States saw the largest hiring in six months during March, according to data by the ADP National Employment Report on Wednesday. The surge in employment, as reflected in the rise in private payrolls, comes amid increased rate of vaccination across the U.S. and a …

According to a Reuters survey, OPEC oil production rose in March, as an increase in supplies from Iran was matched by reductions from other members under an agreement with allies, and represents an obstacle to efforts to limit supplies if the increase by Tehran continues. The survey concluded that the …

According to a Reuters survey, OPEC oil production rose in March, as an increase in supplies from Iran was matched by reductions from other members under an agreement with allies, representing an obstacle to efforts to limit supplies if the production increase by Tehran continues. The survey concluded that the …