Market Update

The US dollar paused for breath on Tuesday, as traders awaited testimony by Federal Reserve Chairman Jerome Powell for more guidance on the recent sudden shift in central bank policy expectations. The dollar has made significant gains since the Federal Reserve indicated last week to raise interest rates earlier than …

European shares rose to record levels today, as optimism about economic recovery from the Covid-19 pandemic led by the stimulus outweighed fears of global central banks tightening monetary policy earlier than expected. The pan-European STOXX 600 index rose 0.1%, with gains led by shares that are sensitive to the economy, …

Crude oil prices rose on Tuesday, with Brent hitting $75 a barrel for the first time since April 2019, as investors remained optimistic about a quick recovery in global oil demand and as concerns eased about an early return of Iranian crude. Brent crude futures for August delivery rose 29 …

Gold rose today as the bullish trend of the US dollar stalled, which increased the attractiveness of the yellow metal ahead of Federal Reserve Chairman Jerome Powell’s testimony before Congress. Spot gold rose 0.3% to $1,787.80 an ounce), after rising 1% in the previous session. And the yellow metal rose …

President of the Federal Reserve Bank of New York, John Williams, said that the Fed has set a slow start to easing its asset purchases. Speaking on Monday to a bankers event, Williams said he believes the U.S. economy is yet to achieve the substantial further progress needed to begin …

The Euro (EUR) rose against the U.S. Dollar (USD) on Monday after falling for three consecutive sessions. Profit-making and uncertainty about the infrastructure spending plan are weighing on the USD, with markets still digesting the change in tone by the U.S. Federal Reserve. The EUR/USD pair gained 0.47% and reached …

The British Pound (GBP) rose on Monday against a retreating U.S. Dollar, after declining for four consecutive sessions. Recent losses by the GBP/USD pair came mostly due to the surprising hawkish change in tone by the Federal Reserve, which prompted increased demand for the green back. In addition, uncertainty on …

The U.S. Dollar (USD) rebounded against the Japanese Yen (JPY) on Monday, after declining for two consecutive sessions. The USD/JPY pair registered a modest rise of 0.09%, reaching the level of 110.33. Month-to-date, the pair rose by about 0.68%, with its gains since the beginning of the year at 6.79%. …

Blend Labs has filed for an initial public offering (IPO) as it plans to sell $100 million worth of shares to publicly trade on the New York Stock Exchange (NYSE). The digital platform focuses on mortgage lending and other fintech services. The newcomer to Wall Street recorded a 90% rise …

The New York Stock Exchange (NYSE) closed higher on Monday, registering large gains in the first session of the week to recover some of the large losses it saw last week following the Fed’s policy statement, which indicated a hawkish change in tone. The Dow Jones Industrial Average gained 586.89 …