Market Update

Jeremy Hunt, the British Finance Minister, pledged on Friday not to take any action that would “hinder the battle against inflation” amid calls for more significant tax cuts from the right wing of the Conservative Party.“The UK economy has crossed a dangerous turning point in the recent period after the …

Crude oil prices experienced an uptick on Friday, fueled by speculations of impending European Union sanctions against Russia. Meanwhile, the US dollar faced a decline, displaying a form of correlation. While Friday’s trading witnessed a marginal increase, oil prices are on course for their fourth consecutive weekly downturn after touching …

Gold exhibited stability during Friday’s trading on the seventeenth of November, poised to secure weekly gains amid heightened investor speculation surrounding the conclusion of the US Federal Reserve’s monetary tightening cycle. Continuing its upward trajectory, the price of gold tested its highest point in eight days, nearing the $1990 mark. …

Oil prices are heading for a fourth consecutive week of decline, and remained little changed in early Asian trading after falling by about five percent to the lowest level in four months yesterday, Thursday, amid concerns about global demand. Brent crude futures rose ten cents, equivalent to 0.1 percent, to …

The US Dollar Index rose marginally on Thursday, finishing around 104.40, despite weak economic data and the decline in US yields. Economic DataUS Continuing Jobless Claims reached the highest level since 2022, with Initial Claims rising to 231,000. Industrial Production declined by 0.6% in October, exceeding the expected contraction. The …

Bitcoin as well as other cryptocurrencies rallied on Thursday. The most famous cryptocurrency has reached 18-month highs, with analysts expecting more upside if digital assets continue their momentum. At the time of writing, Bitcoin is trading at $36090.The next bitcoin halving in April is expected to reduce the issuance rate …

The USD/JPY pair retraces some of Wednesday’s gains due to US Dollar weakness and a shift to safe-haven assets favoring the Japanese Yen. A short-term bearish bias with a potential deeper pullback if the pair falls below 150.92, with key support levels targeted at 150.32 and 150.00. A recovery above …

US stocks closed mixed on Thursday, with Walmart falling 8% after earnings disappointing. The Dow Jones Industrial Average dropped about 0.1%, while the Nasdaq Composite and the S&P 500 gained near 0.1%. Walmart reported quarterly earnings that topped estimates and raised its annual outlook, but by slightly less than expected. …

WTI is trading at $73.055 per barrel as US oil stocks rise more than anticipated. Earlier on the day, the American crude touched four month lows at $72.55.Concerns about declining oil demand are fueled by weak US economic indicators, such as an increase in unemployment claims and a decline in …

Gold price surged to a peak of $1,987, up 1.35%, earlier in the North American trading session. The Gold Index (XAU/USD) rose to $1,985, indicating a bullish bias. The US Industrial Production figures were below forecast, and the number of jobless claims reached a three-month high. The precious metal is …