Market Update

The Eurozone GDP decreased in the first quarter of 2023, according to Eurostat’s final estimate released on Thursday. The former continent’s Gross Domestic Product (GDP) fell 0.1% in the first three months of current year compared to the previous quarter. During the stated time, the preliminary number showed a 0.1% …

The dollar dipped slightly on Thursday but stayed near three-month highs after the Bank of Canada raised interest rates unexpectedly, implying that other central banks, including the Federal Reserve, may have more work to do to contain inflation. Early in the European day, the euro was up 0.1% at $1.071 …

European stocks fell on Thursday, affected by the decline in technology stocks, which are sensitive to interest rate movements, on expectations that large central banks will continue to raise interest rates, but the gains of the Swiss healthcare group Novartis contributed to limiting losses. And by 0715 GMT, the European …

There was little change in oil prices in early Asian trading on Thursday, as investors assessed concerns about demand amid a slowdown in the global economy against an expected decline in supplies thanks to Saudi production cuts. And by 0110 GMT, Brent crude futures fell one cent to $76.94 a …

Japan’s Nikkei index witnessed a sharp decline for the second day in a row on Thursday, as investors took profits from a recent rally in technology stocks. The Nikkei’s losses accelerated in the second half of the session, falling 0.85 percent at the close, recording 31,641.27 points. The broader Topix …

On Wednesday, the Bank of Canada surprised markets by raising its key rate by 25 basis points to 4.75%, citing persistent excess demand and increasing concerns that inflation could “get stuck” materially above the target. This decision follows the Reserve Bank of Australia’s hike on Tuesday, which also exceeded economic …

Recovery in oil imports could provide some comfort to the oil market. However, the most recent economic data out of China continues to be a concern for the market and could result in lower demand for crude and other commodities and slower-than-expected global oil demand growth this year. The weaker-than-expected …

Arbitrum and ImmutableX started price rallies in response to the SEC’s regulatory crackdown. Optimism completed its Bedrock hard fork earlier today, reducing the Layer 2 solution’s gas fees by 40%. OP, ARB and IMX prices yielded between 3% and 6% gains for holders since Tuesday. In other words, while mainstream …

On Wednesday, US stocks experienced a decline due to a shift away from technology stocks that negatively impacted the Nasdaq. Additionally, profit-taking ahead of key economic and policy events next week caused the S&P 500 to slide. The Dow Jones Industrial Average surged 71.82 points, or 0.21%, to 33,645.1, the …

According to a recent report, some $30bn (£24.2bn) of investment in new UK energy projects is at risk if Labour wins the next election. The report suggests that a Labour government could send a signal to investors that the UK is not a secure destination for new energy projects, deterring …