Market Update

Gold prices declined on Wednesday and settled lower after two consecutive rises due to the US Dollar recovering from some of its recent losses against major currencies, supported by the release of the Federal Reserve latest meeting minutes. Gold futures for December delivery closed lower by $42.80, or 2.1%, at …

Despite the Brexit, London is expected to maintain a big role in the European financial market, Reuters reported. It was expected that many company will leave the UK capital, thus, affecting the place of London as a global financial hub. However, it now seems that Frankfurt will not be making …

Crude oil inventories in the United States decreased last week, according to data by the U.S. Energy Information Administration (EIA) on Wednesday. A decline of 1.6 million barrels was seen in oil stockpiles last week to a total of 512.5 million barrels. Although the decline was less than expected, it …

European Stocks closed higher on Wednesday, as banking shares achieved high gains, boosted by some positive earnings reports and the record-breaking rises in Wall Street. Stoxx Europe 600 added 0.60%, while FTSE100 rose by 0.58%. CAC40 settled higher by 0.79%, and DAX finished on a 0.74% increase.

The Board of Governors of the US Federal Reserve has unanimously voted to maintain interest rates during the Federal Open Market Committee (FOMC) meeting on July 29. The meeting also authorized the Fed to undertake open market operations as necessary to maintain the federal funds rate in a target range …

The US Dollar (USD) is reversing its recent losses and showing a positive performance on Wednesday, ahead of the release of the Federal Reserve meeting minutes later today. The Dollar index (DXY), which measures the USD performance against a basket of six major currencies, is up by around 0.50% at …

Wholesale sales in Canada increased on a monthly basis during June, beating market expectations and restoring its level prior to the COVID-19 crisis. Seasonally adjusted data showed on Wednesday that Canadian wholesale sales grew by 18.5% in June, according to Statistics Canada. On an annual basis, wholesale transactions decreased by …

The Consumer Price Index (CPI) in Canada slowed during July, rising by 0.1% on an annual basis, data showed on Wednesday. The lower gasoline and air travel prices helped reduce the inflation rate last month. The inflation rate remains well below the central bank’s target.

Today, Joint Ministerial Monitoring Committee (JMMC) meeting will likely be all about reviewing the bloc’s commitment to oil production curbs and assessing the compliance over the past two months. According to Reuters, July’s compliance of OPEC+ with oil output cuts was expected to reach 97%, down from 107% in June. …

The Nikkei benchmark index made slight gains at the close on the Tokyo Stock Exchange on Wednesday, with some tech stocks surging after the gains of US giants, with the S&P 500 index climbing to a record high last night. The Nikkei Index is very close to a three-decade high …