Market Update

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.

The Italian government is set to lower its 2021 Gross Domestic Product (GDP) growth forecast in April’s publication to 4.1% from 6%, Reuters reported on Monday, citing three government sources familiar with the matter. On a positive note, the 2022 growth forecast is expected to be hiked to 4.3% from …

Bitcoin jumped today, Monday, to a new week’s high, rising by 4.5% to $58,300 and approaching its peak at $61,100, which it reached earlier this month. Visa had previously said it would use cryptocurrency to settle payments on its network, in the latest sign of the growing acceptance of digital …

Russia is in support of keeping the oil output of the OPEC+ steady from April to May while seeking a small output increase in May for itself, Reuters reported on Monday, citing a source familiar with the matter.  “I won’t be surprised to hear the view that it is better …

The Turkish lira lost more than 1% of its value on Monday, March 29, continuing its sharp decline since President Recep Tayyip Erdogan changed the central bank governor this month, leading to expectations of a loose monetary policy. The lira was at 8.14 per dollar, down from 8.0775 at the …

European stocks approached record highs Monday, March 29, thanks to optimism about the global economic recovery, while Credit Suisse plunged following a warning of “significant” losses due to exit from positions after a US-based hedge fund defaulted on margin calls. Swiss bank shares lost 9.5% after it said an unnamed …

The yield on the benchmark 10-year Treasury note fell to 1.64% on Monday, remaining below 14-month highs of 1.75% reached early in the month as the bond market appears to be flat. Investors have digested mixed economic data and tame inflation, the outlook for a brighter economic outlook for the …

The dollar started the week strongly, as it moved in a peak direction against the euro on Monday, March 29th, at a time when a tendency of caution in the market pushes investors to safe havens, and the rapid distribution of vaccines adds to the attractiveness of the currency. The …