Market Update

Governor of the Bank of Canada Tiff Macklem said that unless the central bank is certain that the economy is returning to price stability, it is still too soon to think about cutting interest rates. The USD/CAD pair was last seen at 1.3372 and was headed for its lowest weekly …

According to Wall Street analysts, there is a chance that oil prices could possibly rebound in the upcoming year, though probably not much. Five major banks have projected that the global benchmark Brent will average roughly $85 per barrel in 2024, down from its current level of $77.Goldman Sachs Group …

US stocks are currently hovering around their record highs. They are poised to end the longest weekly winning streak in six years. With a 0.1% decrease in morning trade, the S&P 500 is now 1.7% behind its all-time high from early in the previous year. The Dow Jones Industrial Average, …

The Euro has reversed its direction on Friday’s early US session as Federal Reserve President and CEO, John Williams, cooled hopes of interest rate cuts in March. This was offset by a downbeat US NY Empire State Manufacturing Index, which fell to -14.5 its lowest level in the last 7 …

On December 15, today’s economic data paints a concerning picture of ongoing contraction in industrial activity across Europe. S&P Global’s industrial purchasing managers’ data reveals a persistent downturn, holding steady at 44.2 in the eurozone for December, matching November’s level, contrary to the expected 44.5. In addition, the services purchasing …

Energy and mining stocks led European stocks to rise on the last day of a week filled with major central bank decisions on monetary policy, as the US Federal Reserve set the tone for market expectations regarding the prospects for lowering interest rates. By 0805 GMT, the European STOXX 600 …

The dollar is on track to record its largest weekly decline against other major currencies since July, affected by the increasing possibility of a cut in US interest rates next year, while the euro and the pound received support on Friday as central banks in Europe continue their tendency to …

Japan’s Nikkei index achieved gains on Friday, supported by the cessation of the yen’s rise, which was affecting the earnings expectations of exporting companies. The Nikkei ended Friday’s session up 0.87 percent to 32,970.55, recording a weekly gain of 2.05 percent, ending a series of losses for two consecutive weeks. …

Oil prices rose in early Asian trading on Friday and are on track to record their first weekly gains in two months, benefiting from the decline in the dollar and optimistic expectations from the International Energy Agency about oil demand next year. Brent crude futures rose nine cents to $76.70 …

The US dollar has been softer despite the recent slew of US data, including Retail Sales and Jobless claims. The US Dollar Index dropped further on Thursday, extending the negative momentum that followed the FOMC statement. The dovish signals from the Fed have weighed on the US Dollar, which remains …