China’s economy grew in the second quarter of 2023 by 6.3%, against expectations of 7.3%. On a quarterly basis, the Chinese economy grew by 0.8% in the second quarter, slowing down from 2.2% levels, but it came better than expectations that indicated a growth of 0.5%. A spokesman for the …
Read More »Oil prices fell after Libya resumed production
Oil prices fell for a second session on Monday after Libya resumed production at the weekend, while China, the world’s largest crude importer, is expected to release data showing that the post-pandemic economic recovery is facing bumps. Brent crude futures fell 57 cents, or 0.7 percent, to $79.30 a barrel …
Read More »Financial Markets’ Weekly Recap, July 10-14
After an intense week across most financial markets, volatility is unlikely to ease soon. Market participants will continue to digest the latest round of US inflation data, particularly the CPI and PPI data, with a special focus on the upcoming FOMC meetings. The Fed enters its blackout period ahead of …
Read More »Noor Capital | Mohammed Hashad Interview on Dubai TV – 14 July 2023
Mohamed Hashad, Director of Research and Development at Noor Capital and member of the US Association of Technical Analysts, commented on global financial market developments, particularly expectations related to a US interest rate hike and whether the Federal Reserve has reached or about to reach the end of its monetary …
Read More »Macklem: Canada’s nflation will be around 3% going forward
Tiff Macklem, governor of the Bank of Canada, anticipates that inflation will hover around 3% in 2019 before gradually returning to the 2% objective. He stated in an interview with The Globe and Mail that although the labour market has improved somewhat, it is still extremely tight. He argued that …
Read More »Wall Street continues to climb post-Consumer Sentiment reading
US stocks maintained their uptrend and are rising boosted by the preliminary US consumer sentiment reading that highlighted a boost in overall sentiment in July, according to the University of Michigan’s key survey. US consumer sentiment rose to 72.6 points, compared to this July, compared to the previous reading, which …
Read More »Do energy imports contribute to Eurozone’s shrinking trade deficit?
In May 2022, the Eurozone had a substantially larger trade deficit than it did in May 2022 because countries paid less for energy imports. According to the European Union’s statistics office Eurostat, the trade deficit for the union in May was about 300 million euros ($336.8 million), significantly lower than …
Read More »Canadian dollar corrects post US Consumer Sentiment data
The Canadian Dollar has reacted to the latest performance by the US Dollar as well as the expectations on the US interest rates, leading to a rebound in the USD/CAD exchange rate. The Michigan Consumer Sentiment Index for June beat expectations, improving the US economy’s outlook and supporting the US …
Read More »US dollar achieved gains on US economic data
The US dollar is battling to end its losing run as European trade begins, with the US Dollar Index consolidating around 100.00. According to the University of Michigan’s consumer sentiment data, the dollar’s worth has increased dramatically as a result of the university’s positive consumer sentiment figures. Thanks to the …
Read More »Dollar is near its lowest level in 15 months, with expectations that the US interest rate hike will stop soon
The dollar hovered near a 15-month low on Friday, heading for its biggest weekly decline since November, after weak U.S. inflation data boosted investor bets that the Federal Reserve was close to ending its rate hike path. Data on Thursday revealed that U.S. producer prices barely rose in June, while …
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