Market Update

Spotify reported a record Q1 earnings and beat estimates on the top and bottom lines after a year of deep cost cutting and streamlining. The company’s earnings per share were 97 euro cents ($1.04), revenue was 3.64 billion euros, and monthly active users (MAUs) were 615 million compared to 618 …

The Canadian dollar has recovered following softer US Purchasing Managers Index figures, which have boosted market hopes that the US domestic economy will soften enough to prompt the Federal Reserve to consider rate cuts. Canada’s latest Retail Sales figures are due on Wednesday, while the broader market focus will be …

The Pound Sterling rebounds from 1.2300 on robust increase in UK Services preliminary PMI for April. The UK preliminary Services PMI data surprisingly jumped to 54.9 from 53.1Two BoE policymakers are lined up to speak as investors seek clues about the interest-rate outlook. The Pound Sterling (GBP) bounces back from …

According to a recent Reuters poll of 100 economists, the majority now anticipates that the U.S. Federal Reserve will hold off on cutting its key interest rate until September. This contrasts with earlier expectations of a June rate cut and subsequent cuts throughout the year. Half of the economists surveyed …

On Tuesday, the Japanese yen plummeted to multi-year lows against both the dollar and the euro, prompting heightened vigilance among traders for potential government intervention ahead of the Bank of Japan’s upcoming meeting. Conversely, the British pound saw a decline to its lowest levels in several months following dovish remarks …

On Tuesday, oil prices saw an increase, buoyed by robust economic data from Europe and the ongoing consideration of potential new US sanctions on Iranian oil exports amidst continued tension in the Middle East. As of 0847 GMT, Brent crude futures climbed by 80 cents, or 0.9 percent, reaching $87.80 …

European stocks surged on Tuesday, reaching their highest levels in over a week, driven by strong corporate earnings that instilled confidence among traders. The technology sector spearheaded the gains, with the Financial Times index in Britain hitting its all-time high. As of 0712 GMT, the European STOXX 600 index climbed …

Gold prices fell on Tuesday to their lowest levels in more than two weeks as fears of a broader conflict in the Middle East receded, boosting investors’ appetite for risk and reducing demand for gold as a safe haven. Gold fell in spot transactions about 1 percent to $2,304.99 per …

The risk-linked financial assets received much-needed oxygen from diminishing geopolitical fears at the start of a week that will be dominated by impending US inflation numbers and corporate earnings reports. The US dollar posted modest gains during a rather unremarkable start to the week, helping to keep the USD Index …

The Australian dollar (AUD/USD) has risen over 0.54% against the US dollar, reaching 0.6449, driven by gains in Wall Street and a flat US Dollar. The Australian Manufacturing PMI, which rose to 49.9 in April, indicates expansion. The US Economic Data Center (CFNAI) also showed a rise in March, with …