Market Update

The U.S. Dollar (USD) declined on Wednesday, dropping across the board, amid an improvement in the risk appetite among investors. The Dollar Index (DXY) that measures the greenback against a basket of six major international currencies is down by 0.24% at 92.75, after fluctuating throughout the day between 92.726 and …

Oil prices surged on Wednesday, maintaining a rising trend for the second consecutive session, following a huge drop at the beginning of the week, despite data showing another increase in crude inventories in the U.S., with markets witnessing a broader improvement in risk appetite among investors. Brent crude futures for …

Cryptocurrencies rebounded on Wednesday, recovering from a recent sell-off wave, as Bitcoin restored its level above $30,000. The world’s largest cryptocurrency in terms of market capitalization rose as high as $32,765 earlier today, on the back of improved risk sentiment among investors. Bitcoin is up by about 6.5% trading at …

Gold prices resumed losses on Wednesday, falling for the third time in four sessions, despite a mixed performance by the U.S. Dollar (USD) with lower demand for safe havens as stock markets surged to recover from earlier declines. The yellow metal’s front-month futures Gold for July delivery lost $8.00, or …

The European Union has reportedly rejected a proposal by the United Kingdom to discuss a new post-Brexit trade deal, regulating Northern Ireland, Reuters reported. Last year, an arrangement has already been reached regarding the issue after four years of negotiations between the two parties. However, businesses in Northern Ireland are …

European stocks finished higher on Wednesday for the second consecutive session, amid an improvement in investors’ sentiment, despite concerns about the Delta variant of the coronavirus (COVID-19). The STOXX Europe 600 index surged by 7.36 points or 1.65% to close at 453.97 points, supported by large gains by blue chips, …

Crude oil inventories in the United States continued to increase for the ninth consecutive week, adding 2.1 million barrels in the week ending July 16, according to official figures released on Wednesday. The U.S. Energy Information Administration (EIA) reported a decline in gasoline stockpiles by 100,000 barrels, while distillate inventories …

International Monetary Fund Managing Director Kristalina Georgieva said Wednesday, July 20, that the IMF’s estimates this month indicate that global growth in 2021 will be about 6 percent, the same as the forecast issued in April, but with some countries growing at a faster pace and some at a slower …

Major US stock indexes opened higher on Wednesday, with renewed optimism about the health of the US corporate sector after strong quarterly results from companies such as Johnson & Johnson and Coca-Cola. The Dow Jones Industrial Average rose 45 points, or 0.13 percent, to 34,556.96 points, the S&P 500 index …

First Deputy Managing Director of the International Monetary Fund, Jeffrey Okamoto, expected that the global economy would lose about 15 trillion dollars from 2020 to 2024 due to the Coronavirus pandemic. According to an article published on the IMF’s website, Okamoto said that since March 2020, governments have spent $16 …