Market Update

Gold rebounded today from its lowest level in nine months recorded last week, with the decline in bond yields and the approval of a huge US stimulus package to increase the attractiveness of the metal as a hedging tool in the face of inflation. Gold rose in the spot market …

Japanese stocks reversed the trend to close lower on Monday as investors sought to adjust their positions before the end of the fiscal year, while concerns over rising US bond yields weighed on sentiment. The benchmark Nikkei index fell 0.42% to close at 28,743.25 points, while the broader TOPIX index …

The benchmark indices of the New York Stock Exchange (NYSE) recovered from its recent losses due to the rise in Treasury yields, as the sentiment of Wall Street improved on the back of positive employment data in the United States. The Dow Jones Industrial Average gained 572.16 points, or 1.9%, …

Oil prices rose on Friday, reaching their highest levels since 2019, supported by the extension of the OPEC+ output cuts. The Organization of the Petroleum Exporting Countries (OPEC) and its partners, forming an alliance known as OPEC+, agreed on Thursday to extend most crude oil production cuts until the end …

Gold prices declined on Friday, extending their weekly losses as the U.S. Dollar (USD) strengthened and higher Treasury yields continued to drive away demand from the yellow metal. The first week of March continues on the negative performance of last month, as February saw the worst performance for gold futures …

The U.S. Dollar (USD) rose on Friday supported by the increase in Treasury bond yields amid improved outlook for economic recovery, after data showed that the American economy added a higher than expected number of new jobs last month. The Dollar Index (DXY), which measures the greenback’s performance against a …

The number of active oil and natural gas rigs in the United States increased by a single one this week, data by Baker Hughes showed on Friday. The total rig count in the U.S. stands at 403, 390 rigs less than the same time of last year. The oil rig …

European stocks closed lower on Friday, as rising Treasury bond yields continued to leave their toll on the market. The pan-European STOXX 600 index finished the day lower by 0.82%, limiting its losses that reached 1% earlier in the session, and managed to gain around 1.1% for the week. Travel …

Industrial output in Brazil continued to expand during January for the ninth consecutive month, despite a slowdown as the economy is still recovering from the Coronavirus pandemic. Industrial production increased by 0.4% in January on a monthly basis and by 2% year-on-year, data by IBGE showed on Friday. Food production …

The unemployment rate in the United States declined to 6.2% from 6.3% in January, data by the U.S. Department of Labor showed on Friday. Last month, the American economy added the biggest number of jobs in four months, amid the recovery from the impact of the Coronavirus pandemic and the …