Market Update

Oil prices fell on Wednesday due to a stronger US currency and disappointing data from China, the world’s largest oil importer, raising demand concerns. At 1013 GMT, Brent oil futures for August delivery were down $1.29, or 1.75%, to $72.42 a barrel. West Texas Intermediate crude (WTI) in the United …

Official data showed on Wednesday that the Turkish economy grew by 4 percent in the first quarter of this year, slightly exceeding expectations. The growth came despite the repercussions of the devastating earthquakes that hit the south of the country in February. Data from the Turkish Statistical Institute showed that …

European stocks touched a two-month low on Wednesday after weak economic data from China fueled fears of a global slowdown and dashed optimism from signs of falling inflation in some major eurozone economies. The pan-European Stoxx 600 index fell 0.7 percent, its lowest since March 31. The main stock exchanges …

Japan’s Nikkei ended a four-day winning streak on Wednesday, with investors taking profits after the index hit a 33-year high earlier this week, and a stronger yen and disappointing Chinese data also weighed on the markets. The Nikkei index fell 1.41 percent to 30,887.88 points, its biggest daily decline since …

Oil prices turned lower after starting trading on a higher note on Wednesday, due to fears of slowing demand from China, the world’s largest oil importer, after weaker-than-expected economic data. Brent crude futures for August delivery fell 28 cents to $73.43 a barrel by 0250 GMT, while US West Texas …

The debt ceiling agreement reached by US President Biden and House Speaker Kevin McCarthy is encountering difficulties, which is negatively affecting market sentiment. US markets ended with mixed results, as Treasury yields dropped significantly. Economic Data Consumer sentiment in the US weakened slightly in May with the Conference Board’s Consumer …

Gold prices ended higher Tuesday, partially buoyed by declining US Treasury yields, after the most-active futures contract briefly touched its lowest level since March overnight. Gold found support Tuesday from a retreat in US Treasury yields. Gold prices have retreated for most of May as the dollar has strengthened and …

By mid-Q3 2023, Tether intends to mine its first bitcoin in the Uruguayan plant. By starting a mining facility in Uruguay that will be operational by the middle of the third quarter of 2023, Tether is doubling down on its Bitcoin plan, the company said to Blockworks on Tuesday. Tether …

The USD/JPY pair declined for two consecutive days following remarks from Japanese authorities indicating increased scrutiny of currency market movements. The Japanese Yen strengthens in response to the news, putting downward pressure on the USD/JPY pair.USD/JPY maintains an upward bias as long as it holds above the key level of …

Thomas Barkin, President of the Federal Reserve Bank of Richmond, stated on Tuesday that he is seeing evidence that interest rate hikes are curbing demand. He is attending a webinar organized by the National Association for Business Economics. According to Barkin, there is more willingness among businesses to increase prices, …