Market Update

India’s health ministry data showed that the country recorded 4,2015 new coronavirus cases in the last 24 hours, while the number of deaths jumped by 3,998, the highest daily toll since June 12. The data revealed that the total number of injuries reached 31.22 million cases, while the deaths amounted …

Data from the Robert Koch Institute for Infectious Diseases showed on Wednesday that the number of confirmed cases of coronavirus in Germany rose by 2,203 to 3,748,613. The data revealed that the country recorded 19 new deaths from the disease, bringing the total to 91,416.

The New York Stock Exchange (NYSE) closed lower on Friday, erasing earlier gains after data showed increased fears over inflation reflecting negatively on consumer confidence. All the major indices finished the week in losses, ending a three-week rising streak that saw multiple record-breaking levels. The Dow Jones Industrial Average lost …

Oil prices saw a modest increase on Friday but to failed to recovery its large weekly losses, the biggest in about two months, which are mostly due to uncertainty about a new production policy agreement by the OPEC+ alliance, despite recent reports suggesting extending the current deal until the end …

Gold prices decreased on Friday, limiting its fourth consecutive weekly rise, amid fluctuations by the U.S. (USD) that seem to be struggling for direction after the recent remarks by the Federal Reserve Chair Jerome Powell relatively eased concerns about the recent surges in inflation. Gold futures front-month contracts for July …

The number of active oil and natural gas rigs in the United States increased for the third consecutive week, for the first time since May, despite the recent drop in crude prices, data by Baker Hughes showed on Friday. The total rig count rose by five to 484 in the …

Europe’s stocks closed lower on Friday, nearly doubling their weekly losses amid concerns about the resurgence of the coronavirus pandemic with the spread of the Delta Variant. STOXX Europe 600 lost 1.46 points or 0.32% to close at 454.74, registering its third consecutive daily decline, down for the week by …

Business inventories in the United States increased by 0.5% in May, according to official data. The increase came above the expected 0.1%, with businesses aiming to cope with the rising demand as the economy reopens and shows more signs of recovery from the coronavirus pandemic (COVID-19). Moreover, the ratio of …

Wholesale sales in Canada increased in May for the third consecutive month, setting a new record, according to data by Statistics Canada. The wholesale sales rose 0.5% in May to reach $72.2 billion, supported by the growing sales of food and machinery. Food sales leveled up 3.3% to $11.4 billion, …

The dollar, when tracked by the US dollar index DXY, expands optimism in the second half of the week and approaches monthly tops around 92.80, and the index advances for the second consecutive session and trades near the monthly peak located in the 92.80 / 85 range, always on the …