Market Update

The European Union asked Britain Thursday 10 September to urgently cancel a plan to breach the withdrawal agreement, but Prime Minister Boris Johnson’s government refused and instead went ahead with a bill that could waste four years of Brexit talks. With the increasing likelihood that Britain’s departure from the European …

The UK economy grew 6.6% in July on a monthly basis in an effort to recover from the sharp downturn caused by the general lockdown caused by the Corona pandemic, according to data from the British National Statistics Office. The expected growth (gross domestic product) for July was largely in …

Gold prices declined as the US dollar rebounded, but the precious metal is on its way to achieving a weekly gain, supported by fears about the global economy recovering from a decline caused by the Corona virus. Before the Tokyo Stock Exchange closed, gold in spot transactions fell 0.8% to …

China’s foreign ministry said on Friday that it has adopted reciprocal restrictions on staff from the US embassy and consulates in the mainland and Hong Kong. “China’s actions are just, a necessary response to the US wrongdoings,” the ministry added. China urges the US to withdraw restrictions on China’s embassy …

Oil prices fell for a second day, as a sudden increase in US crude stocks negatively affected the sentiment, which is already suffering in light of the erosion of fuel demand with the continuing Corona pandemic. Brent crude fell 15 cents, or 0.4%, to $ 39.91 a barrel ahead of …

European stocks stabilized after opening slightly lower, a day after the European Central Bank adopted a less monetary easing tone than expected regarding stimulus, while the growing possibility of a Brexit without an agreement weakened risk appetite. The pan-European STOXX 600 index settled and is heading towards closing the week …

The euro rose slightly as traders indicated the calm approach of policymakers in the European Central Bank regarding the recent rise of the euro, while the Norwegian krone rose on official expectations that the current economic contraction will be less than expected. After a press conference on Thursday in which …

Japanese stocks rose to the highest level in a week, following the rise in US futures, after the capital, Tokyo, reduced the level of the Coronavirus warning by one degree from its highest levels, as infections continued to decline. The benchmark Nikkei index rose 0.74% to 23,406.49 points. For the …

The UK economy grew 6.6% in July on a monthly basis in an effort to recover from the sharp downturn caused by the general lockdown caused by the Corona pandemic, according to data from the British National Statistics Office. The expected growth (gross domestic product) for July was largely in …

Analysts at Scotiabank offer a sneak peek at what to expect from Friday’s US Consumer Price Index (CPI) release. Key quotes “Headline inflation is forecast to rise from 1% YoY in July to 1.4% principally due to forecast month-ago gains in core CPI combined with a mild assist from gasoline …