Market Update

The U.S. Dollar (USD) declined on Monday against its major rivals, as positive economic data encouraged risk appetite and reduced demand for safe havens. Accordingly, the greenback turned to the negative side in favor of riskier assets. The Dollar Index (DXY), which measures the USD’s performance against a basket of …

The United States Treasury Secretary Janet Yellen has called upon G20 countries to coordinate tax policies. Yellen said on Monday that she is collaborating with G20 countries to reach an agreement on the minimum rate of corporate taxes globally, after a three-decade race to the bottom on corporate tax rates …

Major indices of the New York Stock Exchange (NYSE) surged in early Monday trade to new record highs, supported by the recent strong employment data and positive sentiment in Wall Street towards signs for recovery from the Coronavirus pandemic. The Dow Jones Industrial Average is up by about 402 points, …

New orders for goods manufactured in the United States decline during February, data showed on Monday. Factory orders fell by 0.8% in February, following a 2.7% rise in January, according to the U.S. Department of Commerce. The cold weather, resulting from a recent winter storm that hit southern parts of …

Business activity in the United States services sector showed a positive performance in March, according to recent Purchasing Managers’ Index (PMI) data by. The seasonally adjusted final IHS Markit U.S. Services PMI Business Activity Index registered 60.4 in March, up from 59.8 in February, recording an improved reading compared with …

The activity of the services sector in the United States surged to a record high in March, supported by the growth of new orders, as the economy continues to recover from the impact of the Coronavirus pandemic. The ISM Non-Manufacturing Index rose to a reading of 63.7 last month, its …

The Italian Ministry of Health said that it recorded 326 deaths from the Coronavirus today, Sunday, compared to 376 yesterday, while the daily number of new infections decreased to 18 thousand and 25 from 21 thousand and 261. Italy has recorded 111 thousand and 30 deaths from the virus since …

Oil prices fell below $64 a barrel today, Monday, as the impact of rising supplies from OPEC+ and increasing Iranian production was overshadowed by signs of a strong economic recovery in the United States and broader expectations for a recovery in demand in 2021. The Organization of the Petroleum Exporting …

Turkey’s annual inflation rose to more than 16% in March for the first time since mid-2019, according to Monday’s data, which means pressure builds on new central bank governor Şahap Kavcıoğlu to maintain a hawkish policy after his surprise appointment. Consumer prices rose 16.19% year-on-year, higher than 16.11% in a …

The dollar index was little changed at 93.1 on Monday, swinging at levels not seen since November 2020 amid prospects for a strong economic recovery in the United States. Last week, the greenback added 0.3%, which is 3 consecutive weekly gains, driven by the selling of bonds, with buying activity …