Market Update

Eurozone CPI rose 0.3% year-on-year, in line with expectations, according to Eurostat’s final reading of the Eurozone CPI report for June. The key figures came in line with expectations as well, reaching 0.8% in the same month. On a monthly basis, the main Eurozone CPI rose by 0.3% in June, …

China’s fiscal revenue increased by 3.2% in June compared to last year, reflecting a 10% decrease in May with a return to expansion for the first time this year and in line with the recovery in the economy. China’s Finance Ministry said on Friday Ministry of Finance Liu Jinyun told …

European stock markets are set to open higher on Friday, amid hopes for additional stimulus to the region as Covid-19 continue to rise. The futures of the German DAX increased by 0.3%, the British FTSE 100 recorded 0.2% and the French CAC index increased by 0.1%. (06 GMT( European Union …

Asian stocks posted gains on Friday and US stocks futures also bounced, with increasing hopes for government spending around the world that will soften the impact of the pandemic with concerns about the increasing number of cases and the worsening tensions between Washington and Beijing. pan-European Euro Stoxx 50 futures, …

Oil prices retreated on Friday, as trading was cloudy over the global recovery in fuel demand and growing uncertainty, while cases of COVID 19 rise steadily in several countries with major producers prepared to ease production restrictions. Brent crude futures fell 11 cents, or 0.3%, to $ 43.26 a barrel …

Ahead of Friday’s European Union (EU) summit, Italian Economy Minister Roberto Gualtieri reiterated the country’s support for the new recovery fund worth 750B euros. Adding that they will try not to modify the overall amount or the breakdown between grants and loans to try and achieve that goal.As mentioned before, …

The President of the Federal Reserve Bank of New York, John Williams, said that the Fed’s emergency lending have helped ease credit markets disrupted by the COVID-19 pandemic, Reuters reported. “The scale and reach of the response is an indication of the gravity and unique nature of the situation we …

The United States Federal Reserve should not raise interest rates until inflation reaches the 2% target, President of the Federal Reserve Bank of Chicago, Charles Evans, said on Thursday, as cited by Reuters. “I am hard pressed to think of reasons why we would need to move away from accommodative …

Oil prices declined on Thursday due to negative economic data, which also pushed stock markets down. The OPEC+ move to raise output, by limiting the production cuts to 7.7 million barrels per day (bpd) from August 1, which was announced yesterday, is not expected to disrupt the market, as demand …

Russia is expecting a strong recovery in the global demand for oil, according to the Russian Minister of Energy, Alexander Novak, Reuters reported. The minister said on Thursday that a significant rise in August could see demand improve to 10% below the pre-COVID-19 levels. Demand was nearing 100 million barrels …