Market Update

The U.S. Dollar (USD) showed a fluctuating performance on Wednesday, with the markets focusing on the Federal Reserve policy decision and statement. The greenback began moving downwards in early trades in the American session, erasing most of its daily gains during the European session that also saw some fluctuations, but …

The United States Federal Reserve announced on Wednesday that it has decided to maintain interest rates unchanged at a 0-0.25% range, and the current pace of asset purchases at $120 billion a month. The Fed will continue to increase its holdings of Treasury securities by $80 billion per month and …

European stocks finished higher on Wednesday, after declining for two days in a row, to hit a new record-high closing level, supported by positive earnings reports. The STOXX Europe 600 index added 0.66% to close at a record 461.70 points. The tech sector rebounded and led the gains, adding about …

The U.S. Dollar (USD) is on a downwards trend ahead of the release of the Federal Reserve policy statement, as the Federal Open Market Committee (FOMC) meeting concludes. The Dollar Index (DXY) that measures the greenback against a basket of six major international currencies remains in the positive territory but …

Oil prices rose on Wednesday after official data showed a decline in crude inventories in the United States last week. Crude inventories declined by 4.1 million barrels for the week ended July 23, according to the U.S. Energy Information Administration (EIA). Gasoline stockpiles fell by 2.3 million barrels and distillate …

Annual inflation in Canada, as measured by the Consumer Price Index (CPI), declined to 3.1% in June from 3.6% in May, the data published by Statistics Canada revealed on Wednesday. This reading came in lower than the market expectation of 3.2%. On a monthly basis, the CPI edged lower to …

The data published by the US Census Bureau revealed on Wednesday that the international trade deficit increased by $3 billion in June to $91.2 billion from $88.2 billion in May.

Boeing announced Wednesday, July 28, that it recorded its first quarterly profit in nearly two years, buoyed by an increase in commercial aircraft deliveries after the world’s airlines began to recover from the effects of the pandemic. Boeing recorded a net income of $567 million, with adjusted earnings per share …

Oil prices rose on Wednesday, July 28, after industry data showed inventories of US crude and products fell more than expected last week, fueling speculation that demand will outpace supply growth even as COVID-19 cases grow. Brent crude futures were up 38 cents, or 0.5%, at $ 74.86 a barrel, …

Gold prices rose on Wednesday, drawing support from the decline in stocks and the dollar, but the gains were limited while the market cautiously awaits what the US Federal Reserve’s assessments of inflation and economic growth will reveal. The spot price of gold was up 0.3% at $1804.69 an ounce. …