Market Update

Oil prices retreated on Tuesday, March 30th, while navigation in the Suez Canal resumed days after being halted by the stranding of a giant ship, and the focus shifted to an OPEC+ meeting this week, where an extension of supply restrictions is expected to be discussed amid new closures to …

Visa is set to allow using a cryptocurrency in settling transactions through its payment network, Reuters first reported. The process is starting with the U.S. Dollar (USD) Coin, known as the stable coin, through a pilot program in cooperation with the platform Crypto dot com, with plans for expansion with …

Regulators of the banking sector in the United States are investigating the growing use of artificial intelligence (AI) by financial institutions, Reuters reported. The regulators announced that they are seeking feedback on the rising use of AI by banks and other institutions for various purposes.

Oil prices rose on Monday, recovering from earlier losses, amid concerns about delays in oil shipments even after shipping restarted at the Suez Canal after the container ship that was blocking it was re-floated. In addition, it is expected that the upcoming meeting for the Organization of the Petroleum Exporting …

Gold prices closed lower on Monday, opening the week with a negative performance, due to the rise of the U.S. Dollar (USD). The yellow metal has limited its monthly gains, after recent fluctuations. Gold futures for April delivery finished lower by $24, or 1.4%, at $1708.2 per ounce, its lowest …

European stocks finished mostly higher on Monday, with limited gains due to concerns about the third wave of the Coronavirus pandemic. The STOXX Europe 600 index closed higher by 0.2%, with the stocks of food and beverages leading the rise and adding 1.5%. In the UK, the FTSE100 index settled marginally …

The United States Federal Reserve remains a long way from raising interest rates, said the Fed Governor Christopher Waller, in his first speech on Monday. Waller, who joined the Fed’s board of governors in December, said that the central bank does not plan to increase interest rates or the expand …

The manufacturing activity in Texas expanded during March, reaching its best reading on record, according to the data of the Texas Manufacturing Outlook Survey, which started 17 years ago. The production index rose to 48.0 this month, up from 19.9 in February, data by the Federal Reserve Bank of Dallas …

The U.S. Dollar (USD) is showing a mixed performance on Monday, amid increased demand for safe-havens, in light of concerns about a troubled hedge fund. The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is up by 0.05% at 92.81. The index …

The head of the Suez Canal Authority, Lieutenant General Osama Rabie, announced the resumption of navigation in the Suez Canal after the Authority’s success in rescuing and floating the giant Panamanian container ship EVER GIVEN, which ran aground while crossing the Suez Canal.