Market Update

Powell’s hawkish tone on inflation and potential for further rate hikes propels USD/CAD to a three-month high of 1.3640, currently trading at 1.3613.Philadelphia Fed’s Patrick Harker adds fuel to the fire, stating rates are already restrictive and may need to rise further if inflation stalls.Lackluster Canadian retail sales data at …

The Turkish lira fell 2.8% on Friday, August 25, to give up some of its gains, one day after the central bank raised interest rates dramatically. And by 07:36 GMT, the lira recorded 26.51 per dollar, compared to 25.75 per dollar, at the close of trading on Thursday, down 2.8%. …

The euro fell to its lowest level since mid-June on Friday, weighed down by growing expectations that the European Central Bank could soon stop raising interest rates, while the dollar rose broadly ahead of a speech by Federal Reserve Chairman Jerome Powell. Reuters quoted eight informed sources as saying that …

Dive into Noor Capital’s comprehensive report that that created by Research and Development Department, The growing impact of the BRICS bloc on the global economy—including Brazil, Russia, India, China, and South Africa. As an alternative power to traditional Western hegemonies, the BRICS represent more than a quarter of global GDP …

European stocks fell in early trading on Friday, as investors were cautious ahead of the statements of the heads of major central banks at the Jackson Hole symposium in the United States, while the rise in bond yields continued to pressure stocks. And by 0711 GMT, the European Stoxx 600 …

Gold prices fell on Friday as the dollar rose to a ten-week high, but the precious metal was set to post its best performance in six weeks ahead of a speech by Federal Reserve Chairman Jerome Powell that could provide clues about interest rate movements. Gold futures fell 0.2 percent …

Data from the German Statistics Office showed on Friday that the country’s economy stagnated in the second quarter compared to the previous quarter of the year after suffering a recession in the winter. The zero growth for the three months ending in July is in line with the first estimates …

Japan’s Nikkei index closed down 2 percent on Friday, with chip-related shares Advantest and Tokyo Electron falling after gains in US-listed Nvidia stock stalled. The Nikkei index fell 2.05 percent to close at 31,624.28 points, the biggest daily decline in more than three weeks, but it achieved a weekly gain …

All key financial assets, including Thursday’s firmer US dollar, await Fed’s Powell speech on Friday before the Jackson Hole Symposium. Volatility is expected, and it could lead to sharp moves across financial markets.All eyes are on the Kansas City Fed’s Jackson Hole Symposium. On Friday, ECB’s Lagarde and the Fed’s …

The BRICS bloc has expanded by bringing on six new countries, including Iran, Saudi Arabia, and Egypt. This expansion is seen as a significant victory for China and Russia, increasing China’s political clout and helping to reduce Russia’s isolation.However, Russia and China face growing economic headwinds that could undermine the …