Market Update

Oil prices rose on Wednesday, after fluctuating throughout the session as data showed another large increase in crude inventories in the United States, alongside huge drops in gasoline and distillate stockpiles. Brent crude futures for May delivery finished higher by 38 cents, or 0.6%, at $67.90 per barrel. Meanwhile, the …

The United States public budget deficit hit an all-time high in the five months to February at $1.05 trillion, the Associated Press (AP) reported. The surge in budget deficit is attributed to the increase in governmental stimulus spending to help the economy recover from the impact of the coronavirus pandemic. …

Gold prices recovered from earlier losses and reached their highest level in a week on Wednesday, supported by the second consecutive session of U.S. Treasury bond yields pulling back from their recent highs, especially as recent inflation data reduced reflation fears and increased investors’ demand for long-term debt instruments. Spot …

European stocks finished Wednesday higher, extending its weekly gains after rising for the third consecutive session. Inflation data in the United States, which came below market expectations, helped reduce concerns about a surge in inflation and reflected positively on investors’ sentiment. The STOXX Europe 600 index closed higher by 0.38% …

The U.S. Dollar (USD) returned to the positive territory on Wednesday, after briefly declining following the release of inflation data. Data by the United States Bureau of Labor Statistics showed that the Core Consumer Price Index (CPI) in February declined to 1.3%, falling to meet market expectation of 1.4%. The …

Crude oil inventories in the United States increased more than expected last week, data by the U.S. Energy Information Administration (EIA) showed on Wednesday. Oil stockpiles rose by 13.798 million barrels in the week ended on March 5, compared with a recent S&P Global Platts poll of market analysts that …

The Bank of Canada (BoC) has decided to maintain its main interest rates unchanged during its policy meeting on Wednesday. The overnight rate has been held at the effective lower bound of 0.25%, with the Bank Rate at 0.5%, and the deposit rate at 0.25%. BoC is maintaining its extraordinary …

Inflation in the US, as measured by the Consumer Price Index (CPI), arrived at 0.4% on a monthly basis in February and matched analysts’ estimate. On a yearly basis, the CPI rose to 1.7% as expected, the data published by the US Bureau of Labor Statistics showed on Wednesday.

The Bank of Canada (BoC) is expected to leave interest rates unchanged and market waiting for its Rate Statement due out at 15:00 GMT. here are the expectations as forecast by the economists and researchers of eight major banks. TDS “We look for the Bank of Canada to leave policy …

Italy’s producer prices fell 0.3% year-on-year in January 2021, after a 1.8% decline. It is the nineteenth consecutive month in which producer prices have fallen, but it is the softer one since July 2019. On a monthly basis, producer prices rose 1.4% in January, the largest number since July 2018.