Inflows data from Bank of America showed that investors pumped $45.6 billion into monetary funds in the week ending March 24, in the largest inflows since April 2020, and intensified their exposure to US financial instruments shielded from inflation. Bank of America said that inflation-protected securities funds saw inflows of …
Read More »The Suez Canal Authority: Looking Forward to Cooperating With The U.S. to Float The Vessel
The Suez Canal Authority said today, Friday, that it is looking forward to cooperating with the United States in efforts to float the container ship that has disrupted shipping for three days. The authority said in a statement, “The Suez Canal Authority appreciates the offer made by the United States …
Read More »Gold Heading For Its First Weekly Decline in 3 Weeks Due to Dollar Rise
Gold prices stabilized today, as high US revenues and concerns about the global economic recovery following the rise in COVID-19 infections across Europe offset the rise of the dollar, but the yellow metal is still on the path of recording its first weekly decline in three weeks. There was little …
Read More »Currencies Overview: Dollar Recovering on Improved Economic Outlook And Doubts Surround The Euro
The dollar recorded its highest level in several months during trading against most major currencies today, Friday, supported by a wave of optimism about better US economic data, the distribution of Corona virus vaccines, and higher Treasury revenues. The euro recovered slightly ahead of German business confidence data due to …
Read More »Commodity Gains Push European Shares to a One-Week High
European stocks rose today, supported by gains made by commodity-related companies as investors balance concerns about rising coronavirus infections with the prospects for a stronger economic recovery in the United States. The pan-European STOXX 600 index rose 0.8%, reaching its highest level in a week. The benchmark index is on …
Read More »UK Retail Sales Beats Estimates in February
The UK retail sales came in at 2.1% over the month in February vs. 2.8% expected and -8.2% previous. The core retail sales, excepting the auto motor fuel sales, stood at 2.4% MoM vs 1.9% expected and -8.8% previous. YoY, the UK retail sales dropped by 3.7% in February versus …
Read More »Japan Stocks Closing Higher on a Jump in The Cycle-Related Sectors
Japanese stocks closed higher on Friday, while SoftBank led the gains on the Nikkei index, as investors snapped up decliners after falling sharply this week. The Nikkei index rose 1.56% to close at 29,176.70 points, while the broader Topix index advanced 1.46% to 1,984.16 points. For the week, the Nikkei …
Read More »Kepler: 7 LNG Carriers Diverted After Suspension of Navigation in The Suez Canal
Seven LNG carriers have diverted their route away from the Suez Canal after shipping was suspended in it due to the stranding of a giant container ship since Tuesday, according to Kepler, a data analysis company. Kepler analyst Rebecca Shea said that three of the tankers are being diverted towards …
Read More »NYSE Rebounds and Closes Higher
The New York Stock Exchange (NYSE) recovered from its earlier losses to end Thursday’s trading session on a higher note, supported by positive economic data and expectations for recovery. The Dow Jones Industrial Average surged by 199.4 points, or 0.62%, to finish at 32,619.5 points. The S&P 500 index gained …
Read More »Oil Resumes Losses amid Demand Outlook Worries
Oil prices declined on Thursday, amid renewed concerns about demand recovery amid a resurgence of the Coronavirus pandemic with a third wave and lockdown measures in Europe. Losses come one day following the rise of oil futures due to supply disruption caused by an incident that affected flows through the …
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