Market Update

Crude oil inventories in the United States increased for the first time in a month, rising by 500,000 barrels last week, according to data by the US Energy Information Administration (EIA) on Wednesday. This comes following three consecutive weekly declines of US oil stockpiles. Meanwhile, gasoline inventories decreased by 1.4 …

Canada’s Ivey Purchasing Managers Index (PMI) declined in September to a seasonally adjusted reading of 54.3, compared with 67.8 in August. However, the index rose on an annual basis, compared with its level in September 2019 at 48.7, according to data by the Richard Ivey School of Business at Western …

The Turkish lira hit a record low against the dollar on Wednesday, influenced by investor concerns about possible US sanctions, strained relations with the European Union and the ongoing conflict in the Caucasus. The currency has lost 24% of its value this year due to concerns about dwindling foreign exchange …

The dollar held steady on Wednesday as it tipped lower against most currencies after initially jumping after President Donald Trump canceled talks on economic stimulus with Democratic lawmakers in a move boosting demand for safe-haven assets. Trump’s sudden decision to suspend stimulus talks until after the Nov. 3 presidential election …

The Japanese government updated its economic assessment on Wednesday for the first time since May 2019, after an important indicator improved in August, indicating a gradual recovery from the impact of the coronavirus pandemic. The Cabinet Office said on Wednesday that the Synchronous Economic Indicators Index, which measures a data …

British home prices increased last month at the fastest annual pace since June 2016, data from the Halifax Mortgage Company showed on Wednesday, the latest sign of a housing market rally following the lifting of lockdown measures linked to the coronavirus pandemic. Home prices rose 7.3% compared to September last …

Data from the American Petroleum Institute showed that US inventories of crude oil rose last week, while gasoline and distillate stocks declined. Crude inventories increased by 951 thousand barrels over the week ending on October 2 to about 495.4 million barrels, while analysts’ expectations indicated an increase of 294 thousand …

Oil prices fell on Wednesday after US President Donald Trump dampened hopes for a fourth stimulus package to support the economy affected by the Coronavirus pandemic, in addition to an more than expected increase in US crude stocks. US West Texas Intermediate crude futures were down 42 cents, or 1 …

European stocks rose on Wednesday after reports of optimistic results from British Tesco and the German Dialog Semiconductor helped reduce the impact of uncertainties surrounding a new US stimulus program. The pan-European STOXX 600 index rose 0.2%. Asian stocks and US equity futures also recovered from sharp losses on Wall …

Data Wednesday revealed that German industrial production fell unexpectedly in August, indicating that the recovery in the largest European economy from the shock of the Corona pandemic may be less robust than initially expected. Data released by the Federal Statistics Office showed that industrial production fell 0.2% on a monthly …