Market Update

Oil prices retreated, giving back some of the strong recent gains they have made, on expectations of a slower economic recovery and speculation that market strength may entice producers like Saudi Arabia to reduce production. Brent crude fell 35 cents, or 0.6%, to $ 61.12 a barrel with the opening …

European stocks rose to remain on the path to concluding the week on stability, as investors closely watched a barrage of corporate earnings reports to derive indications of the pace of recovery in business activities. The pan-European STOXX 600 index rose 0.1% in early trade, with most of the sectors …

Gold fell as the dollar recovered from a two-week low it reached in the previous session and weaker inflation data in the United States dampened appetite for the yellow metal. Gold fell in immediate transactions 0.3% to $ 1837.13 an ounce, after reaching its highest level in more than a …

Platinum prices surged on Wednesday to their highest level in six years, with increased demand from investors driving the surge in the precious metal futures. According to market experts, platinum is attracting more investments now as it nears its third year in a row with a global supply deficit. In …

The main indices of the New York Stock Exchange (NYSE) showed a mixed performance on Wednesday, with Wall Street investors digesting the January inflation data as well as recent remarks from the Federal Reserve Chair Jerome Powell. The Dow Jones Industrial Average rose by 61.97 points, or 0.2%, to close …

Following the release of inflation data for last month, Treasury yields in the United States declined on Wednesday. Return on the 10-year Treasury bonds declined by 2.3 basis points to 1.133%. The 30-year bond yield also fell by 2.3 basis points to 1.924%. Meanwhile, the two-year bond yield decreased by …

The rally of oil prices continued on Wednesday, supported by the decline in the United States crude inventories last week, as shown by the weekly report of the U.S. Energy Information Administration (EIA) earlier today. In addition, the prospects of increases government stimulus spending in the U.S. is proving support …

Gold prices rose on Wednesday for the fourth consecutive session, as the U.S. Dollar (USD) declined following the release of the reading of the Consumer Price Index (CPI) in January. The market is still expecting the United States Congress will soon pass a huge stimulus relief package, around $1.9 trillion, …

The United States Federal Reserve Chair, Jerome Powell, on Wednesday said that he does not see a large nor sustained rise in inflation. Powell noted that an increase in consumer prices as spending rises after the economy reopens are not expected to be continue for long. “Inflation has been much …

The United States Federal Reserve Chair, Jerome Powell, called for more efforts to help the American economy recover from the impact of the Coronavirus pandemic, in order to reach full employment. Powell’s remarks came in a speech to the Economic Club of New York on Wednesday, Reuters reported. “Given the …