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Market Update

Fed’s Evans Rules Out Interest Hike

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 …

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Oil Prices Settle Lower by 1%

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 …

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Canada’s Payrolls Rise 1.04 M in June

Employment in Canada increased by about 1.043 million jobs in June, compared to May, according to the June ADP Canada National Employment Report. Although jobs in manufacturing decreased by 57,000, jobs in construction increased by 171,000. Meanwhile, the largest increase was in the trade, transportation, and utilities with 347,200 new …

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European Stocks Settle Lower

European stocks closed lower on Thursday after the European Central Bank (ECB) decided to maintain its main interest rates unchanged. The ECB also plans to maintain its Pandemic Emergency Purchase Program (PEPP), as the President of ECB, Christine Lagarde told reporters earlier today. The pan-European Stoxx 600 index declined by …

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