Market Update

The Turkish lira fell 0.7% against the US dollar to return to its lowest levels, affected by continuing concerns about the monetary easing policies of the Central Bank, despite the increase in the inflation rate by more than 21%. The Turkish lira recorded 13.85 to the dollar by 06:17 GMT, …

America and Germany decided to adopt stricter restrictions to circumvent COVID-19 on Thursday, away Austria, there are tailored or modified lockdowns elsewhere all over the globe to combat the emergence of the new Omicron strain. Such measures provoked turmoil across financial markets, lest it could ignite severe global economic slowdown …

A sudden bitcoin and crypto selloff has followed a warning made by famed investor Louis Navellier that widely-expected Federal Reserve taper will potentially burst the bitcoin and crypto bubble.Bitcoin and cryptocurrency prices have fallen sharply, wiping around $300 billion worth of value from the combined crypto market in just two …

A significant event on Monday will be the speech by the Bank of England’s Ben Broadbent, this will be Broadbent last public appearance prior to the anticipated rate decision in the following week.Investors believe it is reasonable to expect rate hikes from 0.10% to 0.25% on December 16, but uncertainty …

Chinese tech stocks popular among US investors have fallen amid the country’s regulatory crackdown on technology firms.Wall Street Journal has explained some of the new risks investors face when buying shares of companies like Didi or Tencent. Investors punished shares of Chinese companies traded in the US on Friday.Didi Global …

The selloff gained force Friday, leaving the NYSE FANG+ Index of Tech Industry’s giants bordering on correction territory, or a 10% drop from the highest. That’s not seen as a good sign heading into the end of the year, the most illiquid trading season. Shares of Tesla, Netflix, Nvidia and …

US President Joe Biden said on Friday that price pressures would ease as the global economy improves.“Gasoline price drops are beginning to reach Americans and this should pick up, he added, saying that China might also decide to release more oil, though it has not done so just yet.Managing Director …

The XAU/USD recovered as the New York session winds down, up by 0.86% and recording a break above USD1,792 that could push gold towards USD 1,800 and even beyond. Gold climbs as the New York session winds down. The precious metal is trading at USD 1,784.The market sentiment was relaxed …

The number of rigs drilling for oil in the US. was unchanged in the latest week at 467, according to oil-field services company Baker Hughes Co. The rig count was 221 rigs higher than last year when there were 246 active rigs, Baker Hughes said Friday.The nation’s gas-rig count stood …

Managing Director of the International Monetary Fund, Kristalina Georgieva, said on Friday that she had already been concerned that the global economic recovery had been losing steam before the emergence of the Omicron variant.There would now likely be some downgrade to global growth forecasts as a result, she added, saying …