Market Update

Below $1,820 per ounce, gold is at its lowest price since March, a loss of $100. Economists evaluate the prospects for the yellow metal. A barrier to gold in the near term is uncertainty over when US rates and the dollar will peak. The precious metal is trading at 1814.69 …

European stocks regained some balance on Thursday after a three-day sell-off amid concerns about rising interest rates that pushed US and European government bond yields to multi-year highs. The European STOXX 600 index rose 0.3 percent by 0720 GMT, after closing at its lowest levels in six months on Wednesday. …

Russian President Vladimir Putin has ordered the government to provide state funding to ensure a smooth heating season, including by imposing regulations on the prices of fuel oil for home heating in some regions, the Kremlin said on Thursday. Russia has been facing a fuel shortage and rising prices in …

Turkish Energy Minister Alp Arslan Bayraktar said on Thursday that the crude oil pipeline from Iraq via Turkey, which has been halted for about six months, is ready for operation as of Wednesday and that Ankara is preparing to start shipments. Turkey stopped flows through the oil export route from …

The Nikkei index snapped a five-day losing streak, recording on Thursday the largest single-day percentage jump in three months, with US Treasury yields declining from their highest levels in 16 years and investors buying stocks that fell. The Nikkei index rose 1.80 percent at the close, recording 31,075.36 points. On …

Oil prices rose in early trading on Thursday, compensating for part of the large losses incurred in the previous session after the OPEC+ Joint Ministerial Monitoring Committee maintained oil production cuts, meaning a continued supply shortage amid fears of an imminent decline in global economic growth. Brent crude futures rose …

Before staging a rebound, the bond sell-off drove US and European rates to levels not seen in years. The benchmark German rate touched 3% for the first time since 2011, the 30-year UK yield hit 5%, and the 10-year Treasury yield peaked at 4.88% before falling to 4.73%. The bond …

The GBP/USD pair has rallied from a daily low of 1.2037 to trade at 1.2144 at the time of writing, despite UK Services PMI and Composite figures indicating a contraction in business activity. The US ADP Employment Change report and ISM Non-Manufacturing PMI reveal a slowdown in private sector hiring …

US agencies have stopped clearing fuel in heavily forested areas to prevent wildfire spread. A 45-day stopgap funding bill was passed just hours before agencies would have been forced to close, but employees say everything stops as the work process shifts gears. The Office of Management and Budget formally kicked …

The USD/CAD pair reached a seven-month high of 1.3780 before falling back to 1.3730. The pair experienced an initial rebound from the 1.3700 level and is expected to climb higher if bullish momentum persists. The Canadian dollar’s chances of a short-side reversal may be increasing as the Relative Strength Index …