Market Update

The US dollar is still strong, and on Friday it will try to hold onto or increase its weekly gains. Japan will make its Q2 GDP figures public during the Asian session. The Canadian jobs report will be the day’s main event later on.The Nasdaq fell 0.89%, while the Dow …

The largest retreat on Thursday’s declines on the S&P 500 and Nasdaq Indexes was Apple, along with a selloff in chip companies due to worries over China’s iPhone bans. Concerns about interest rates and persistent inflation increased as a result of a drop in weekly US unemployment claims. The S&P …

Even if other countries are suffering from the effects of tight monetary policy, the US economy is nevertheless robust. The US service sector is experiencing strong demand, which would allow the Federal Reserve to keep the door open for additional policy tightening. In comparison to estimates and the previous report …

On Thursday, the USD/JPY pair dropped over 0.30% in the direction of 147.20 on rising anticipation that the Bank of Japan (BoJ) will act to halt the JPY’s collapse. Although the USD is stabilizing, the Federal Reserve’s hawkish wagers have limited the dollar’s potential loss. The pair is roughly trading …

The Pound Sterling seems under pressure due to the Bank of England’s reluctance to raise interest rates further. The current policy is considered restrictive, and further hikes could make the economic outlook vulnerable. The UK services sector is shrinking after six months of expansion, and policy divergence between the BoE …

The Euro Zone is experiencing economic setbacks, with the EUR/USD pair piercing the 1.0700 level and maintaining a bearish trend. The dollar is gaining strength, with EUR/USD trading below the 1.0700 threshold for the first time since early June. Financial markets are cautious due to solid US macroeconomic figures and …

Germany’s industrial output fell slightly more than expected in July, the Federal Statistics Office said on Thursday, highlighting the challenges facing the sector after Europe’s largest economy slumped in the winter. Production fell 0.8 percent in July compared to the previous month. Analysts in a poll conducted by Reuters expected …

European stocks fell for the seventh consecutive session on Thursday, heading towards the longest losing streak in more than five years, affected by fears of a slowdown in the European economy and keeping US interest rates high. By 0714 GMT, the European STOXX 600 index fell 0.4 percent, hitting its …

A sharp rise in the dollar pushed the yen to a 10-month low on Thursday and kept the euro and sterling near three-month lows as investors put their full faith in the still-strong US economy despite the bleak global growth outlook. The dollar rose to a new peak at 147.875 …

Oil prices fell on Thursday as concerns about demand during the winter season and China’s unclear economic outlook outweighed expectations of tight supplies as a result of Saudi Arabia and Russia extending voluntary production cuts. Brent crude futures fell 24 cents to $90.36 a barrel by 0412 GMT, after a …