Market Update

Homebuilding starts in the United States surged during March, reaching their highest level in about 15 years, data by the U.S. Department of Commerce showed on Friday. Housing starts increased by 19.4% last month to reach a seasonally adjusted annual rate of 1.739 million units This is the highest reading …

After strong rallies in recent days, the largest cryptocurrency by market value, Bitcoin, has reached levels of $ 64,000. Bitcoin dropped below $ 63,000, but remained above $ 62,000 levels and closed above this level for two consecutive days. Bitcoin fell 3% at $ 62.3K, recording a high of 64.7K …

Data from the European Union statistics office Eurostat revealed today, Friday, that eurozone inflation accelerated, according to preliminary estimates in March, mainly driven by rising costs of services and energy. Eurostat confirmed its earlier estimates that consumer prices in the eurozone, which includes 19 countries, rose 0.9% on a monthly …

The Turkish Central Bank banned the use of cryptocurrencies assets in the purchase of goods and services, pointing to potential “irreparable” damages and great risks in those transactions. In the legislation published in the Official Gazette early Friday, the Turkish central bank said that cryptocurrencies and other digital assets based …

The dollar is heading towards its worst consecutive weekly decline since the start of the year as Treasury yields continue to decline as investors increasingly accept the Fed’s insistence on maintaining an easing policy stance for a longer period. Record 10-year Treasury yields fell to a one-month low of 1.528% …

Bank of America’s flows data revealed on Friday that investors pumped a whopping $25.6 billion into equity funds in the week ending Wednesday and $17.9 billion into bond funds, the largest inflow of inflows in ten weeks. In contrast, $47.3 billion was displaced from cash funds, the largest in four …

According to Eurostat’s final reading of the Eurozone CPI report for March, the consumer prices came in at 1.3% on a yearly basis, meeting the estimate of 1.3% and 1.3% expectations. While the core figures steadied at 1.4%, also matching the 0.9% expectations. On a monthly basis, the bloc’s CPI …

Gold prices stabilized today, Friday, near their highest levels since late February, and is on the path of achieving the second consecutive weekly gain, supported by the decline in US Treasury revenues and the weakness of the dollar. Gold settled in spot transactions at $1,762.70 an ounce, with the beginning …

Oil prices extended their gains today, Friday, and are on a path of achieving a weekly profit of about 7%, with an improved outlook for crude demand and a strong economic recovery in China and the United States, which erased concerns about an increase in Covid-19 infections. With the close …

European stocks hit a record high on Friday after strong data in the United States and China sparked optimism about a rapid economic recovery, while carmakers received a boost following better-than-expected earnings for Daimler. The pan-European STOXX 600 index added 0.1%, and is on track for its seventh straight week …