Market Update

Friday, June 18th, the dollar is set to record its best weekly performance in nearly 9 months as investors raced to consider an end to US monetary stimulus sooner than expected in the days following a sudden shift in the US Federal Reserve’s tone. Since Wednesday, when US central bank …

The German Interior Ministry said today, Thursday, that it will allow entry to people from outside the European Union from June 25, provided that they receive the full dose of the vaccine against the Coronavirus unless their countries are included in the list of regions where new strains of the …

The US House of Representatives on Thursday voted to repeal the president’s 2002 authorization for the use of military force that authorized the war in Iraq. As voting continued, the number of votes in favor of cancellation reached 265, against 162. Almost all Democrats support repealing the mandate, while most …

The U.S. Dollar (USD) declined against the Japanese Yen (JPY) on Thursday, despite rising against most of its major peers. The USD/JPY pair fell by 0.43% to 110.24, registering its biggest daily loss since June 4. The pair has now declined in two out of the past three sessions, and …

The British Pound (GBP) maintained its downwards trend against the U.S. Dollar (USD) for the third consecutive session on Thursday. A surprise hawkish change in tone by the U.S. Federal Reserve provided support for the greenback, while the Sterling remains impacted by uncertainty regarding easing lockdown measures in the U.K. …

The Euro (EUR) extended its losses against the U.S. Dollar (USD) on Thursday for the second consecutive day. This comes as the USD rose across the board following the U.S. Federal Reserve’s change in tone, expecting rising inflation and two rate hikes in 2023, sooner than previously expected. The EUR/USD …

The New York Stock Exchange (NYSE) showed a mixed performance on Thursday, with Wall Street investors reacting to the recent changes indicated in the U.S. Federal Reserve policy statement, from raising inflation forecasts to expecting two rate hikes in 2023. The Fed maintained the current main interest rate near 0% …

Oil prices declined on Thursday, as the U.S. Dollar (USD) surged across the board after the Federal Reserve pointed to plans to raise interest rates sooner the previously expected, in a surprise change in tone. However, the drop in crude prices was relatively limited compared with other commodities amid expectations …

Gold prices declined on Thursday and registered their largest drop in about seven months due to the strong surge by the U.S. Dollar (USD). The yellow metal futures for June delivery lost $85.70, or 4.61%, to close at $1,773.80 per ounce, its lowest closing level for gold’s most active contract …

European stocks closed lower on Thursday, with markets reacting to the relatively hawkish expressed by the U.S. Federal Reserve as it now expects to raise interest rates earlier than expected. The STOXX Europe 600 index declined by 0.12% to close at 459.33 points, after rising for nine consecutive sessions and …