Market Update

Financial markets are now focused on the beginning of the three-day BRICS meeting in South Africa. To begin the three-day BRICS summit, leaders and senior officials from five of the largest rising economies in the world met in Johannesburg on Tuesday. Brazil, Russia, India, China, and South Africa make up …

Gold price was edging upward during the US trading session, despite the US Dollar’s strength. The rise and challenging XAU/USD price are supported by high US Treasury bond yields and a lack of support for depolarization among the BRICS bloc. Friday’s Jackson Hole Symposium is looked upon as the key …

Before her journey to China the next week, US Commerce Secretary Gina Raimondo met with the Vice Foreign Minister and Chinese Ambassador late on Tuesday and had a “productive discussion.”US Commerce Secretary Raimondo also emphasized the significance for US businesses and workers while describing the meeting’s specifics.The news also states …

The GBP/USD pair experienced a 0.12% loss due to high US Treasury bond yields and global trade apprehensions. US Existing Home Sales dropped 2.2% in July, with limited inventory and high mortgage rates cited as causes. The Richmond Fed’s Manufacturing Index met expectations with -7, while the Services Index surprised …

Around 0.8800, the USD/CHF pair displays modest increases. Since early August, the price of the pair has been moving sideways. Thomas Barking of the Fed made some pessimistic remarks that helped the USD.Investors are anticipating Powell’s remarks on Friday and the US August PMIs on Wednesday. On Tuesday, the USD/CHF …

In June 2023, the Eurozone’s current account surplus reached €36 billion, a significant increase from €8 billion. This increase was attributed to surpluses in goods, services, and primary income, with a slight deficit in secondary income.However, the 12-month overview showed a minor deficit of €9 billion, compared to a significant …

Early on Tuesday, the US stock markets were expected to begin higher thanks to expectations that chipmaker Nvidia would increase its gains ahead of its earnings announcement on Wednesday. Following reaching their greatest level in over 16 years, benchmark Treasury yields decreased.Futures for the Dow Jones Industrial Average increased by …

Thomas Barkin, President of the Federal Reserve Bank of Richmond has emphasized the need for the Fed to be open to the possibility of the US economy reaccelerating rather than slowing, which could have implications for the central bank’s inflation fight. The US Dollar Index clings to daily gains above …

Turkey’s official Anadolu news agency quoted diplomatic sources as saying that Foreign Minister Hakan Fidan will visit Ukraine on Friday. Turkish officials have repeatedly expressed their desire to mediate between Russia and Ukraine for the return of the grain export agreement through the Black Sea. Russia has imposed a blockade …

Shipping data from commercial and industrial sources showed that India’s imports of crude oil from Russia fell in July for the first time in nine months, and shipments from Saudi Arabia fell to the lowest level in two and a half years after production cuts from OPEC +. China and …