Market Update

Oil prices rose on Thursday for the fifth consecutive session, with economic data boosting hopes for recovery. Specifically, the U.S. GDP data, which showed a growth rate of 6.4%, provided support to crude oil prices, as well as the drop in jobless claims. Brent crude futures for July delivery rose …

Gold prices declined on Thursday after three consecutive rises, losing the $1,900 level, as the U.S. Dollar (USD) strengthened with the Treasury yields rising. The yellow metal futures for June delivery lost $5.5, or 0.3%, to close at $1,895.70 per ounce. Gold futures for August delivery also dropped $5.30, or …

The Tenth District manufacturing activity maintained growth during May, expanding at a strong pace, with positive expectations for future activity, according to the Federal Reserve Bank of Kansas. However, the monthly composite index declined to 26 this month, from 31 in April. Factory activity expanded on an annual basis, maintaining …

The proposed budget by the United States President Joe Biden will increase the ratio of the public debt to the gross domestic product (GDP), Secretary of the Treasury, Janet Yellen, said on Thursday. However, the budget will not add extra pressures on the inflation rate, Yellen noted. Speaking to a …

The United States Secretary of the Treasury, Janet Yellen, said on Thursday that the recent rise in inflation will most likely be temporary, with the economy still recovering from the coronavirus (COVID-19) pandemic. She further told Congress that the administration of President Joe Biden, as well as U.S. regulators, are …

U.S. new capital goods orders rose in April more than expected, as businesses recover from the coronavirus pandemic, data showed on Thursday. Orders increased by 2.3% last month, according to the U.S. Department of Commerce. On an annual basis, the rise was by 14.7%. Core capital goods shipments also grew …

The United States Pending Home Sales Index declined by 4.4% on a monthly basis in April, data showed on Thursday. The decrease resulted from a record-low supply of homes available for sale during the first quarter of the year, according to the National Association of Realtors (NAR). This comes against …

There were 406,000 initial claims for unemployment benefits in the US during the week ending May 22, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading came in better than the market expectation of 425,000 and followed the previous print of 444,000.

Durable Goods Orders in the United States declined by 1.3%, or $3.2 billion, to $246.2 billion in April, the data published by the US Census Bureau revealed on Thursday. This reading came in worse than the market expectation for an increase of 0.7% and followed March’s print of +1.3% (revised …

Gold prices stabilized Thursday, May 27, below the psychologically important level of $1900 an ounce, after the dollar’s ​​rise limited gains as investors awaited US economic data that might provide clues about inflation and monetary policy. Spot gold fell 0.1% to $ 1895.10 an ounce, after hitting its highest level …