Market Update

This morning, the UK’s Office for National Statistics released data indicating that the country’s Gross Domestic Product (GDP) expanded by 0.3% on a monthly basis in December. This figure surpassed market expectations, which had predicted a growth rate of 0.2%. Notably, the preceding reading for November reflected a contraction of …

Gold prices surged on Friday as concerns heightened over the escalating conflict in the Middle East due to airstrikes in Yemen, increasing the appeal of the precious metal as a safe-haven asset. As of 07:01 GMT, spot gold saw a 0.3 percent rise, reaching $2,034.84 per ounce. Despite a 0.5 …

European stocks began the day on a positive note, with investors seemingly overlooking the Middle East conflict escalation and focusing on optimism surrounding a potential interest rate cut by the European Central Bank (ECB). Airbus shares also experienced gains, driven by the company’s record annual orders for aircraft. The European …

Japan’s Nikkei index surged to its highest level in 34 years on Friday, marking its most impressive week since March 2022. The rally was bolstered by diminishing expectations that the Bank of Japan would imminently shift away from its monetary easing policy and a resurgence of foreign investor interest. Closing …

Oil prices experienced a significant spike of over two percent on Friday following joint strikes by the United States and Britain against Houthi military targets in Yemen. The military action was in response to attacks by the Iran-aligned Houthi group on ships in the Red Sea since late last year. …

Following Iran’s announcement early on Thursday that a civilian oil tanker had been captured in the Gulf of Oman, WTI crude oil saw a spike in price. The seizure, according to official Iranian state media, was a reprisal for the US seizing the identical ship, which was headed towards Iran, …

In the early Asian session on Friday, the price of gold rises from the weekly low of $2,013 to $2,030. The chance that the Fed would not start lowering interest rates as soon as anticipated, however, might restrict the upside of the yellow metal and put some selling pressure on …

The Bank of England may be facing a deadline for its first rate decrease because of a possible faster pace of decline in inflation, which is why the GBP/USD pair is trading strongly for the third day in a row. The US CPI inflation data could put the Federal Reserve’s …

Wang Wentao, China’s commerce minister, has voiced worries about US export restrictions that bar foreign nations from sending lithography machines to China. With these restrictions, the US has prevented China from obtaining cutting-edge chips and the equipment needed to produce them, which may support AI and highly developed computers for …

Gold prices have been volatile due to high price pressures in the United States in December, and investors seem confident about the Federal Reserve reducing interest rates in March. The precious metal is trading at $2014.69 at the time of writing.The United States Bureau of Labour Statistics reported hotter-than-projected Consumer …