Market Update

The US Dollar has risen to its highest level since July 7 above 102.50, following to the US government’s credit rating downgrade by Fitch. The USD Index held above 102.50 despite the pullback in the American session and advanced to a 25-day-high above 102.50 on Wednesday. US private sector employment …

The Euro is experiencing losses against the US dollar as the European session draws to a close. The EUR/USD pair slides back to the 1.0919 zone, at the time of writing, as the American currency advances further. The USD Index maintains a positive mood past 102.76. Spanish unemployment shrank by …

Russian President Vladimir Putin told his Turkish counterpart Recep Tayyip Erdogan on Wednesday that Moscow is ready to return to the deal to export grain across the Black Sea once the West fulfills its obligations regarding Russia’s grain exports. The Kremlin said in a statement that Putin, in a call …

Sources in the OPEC + group told Reuters that the group is unlikely to change the current oil production policy during the meeting of the ministerial committee on Friday, as the lack of supplies and the strength of the demand trend lead to an increase in oil prices. Ministers from …

The Bank of England, which is expected to increase interest rates once again on Thursday, must balance the need to combat an inflation rate that is already running at more than four times its objective against the harm that 13 consecutive rate increases have already done to the economy. Most …

European stocks fell on Wednesday to their lowest levels in nearly two weeks, with technology and auto stocks leading the losses, as investors globally fled from risky assets after Fitch Ratings suddenly downgraded the credit rating of the United States. The pan-European Stoxx 600 index fell 1.1% by 0708 GMT, …

Japanese stocks posted their largest daily decline in percentage terms this year, as caution spread in Asian markets after an unexpected downgrade of the credit rating of the United States negatively affected sentiment. The Nikkei index fell 2.30 percent to close at 32,707.69 points, the largest daily decline since December …

Gold prices rose on Wednesday after the decline in the dollar and US Treasury bond yields following Fitch’s decision to downgrade the credit rating of the United States, which undermined confidence in the US economy ahead of the release of important data expected this week. The spot gold price rose …

The dollar fell on Wednesday after Fitch’s decision to downgrade the credit rating of the United States raised questions about the country’s fiscal outlook, but got some support from a series of relatively strong economic data. On Tuesday, Fitch lowered the US rating to AA+ from AAA, in a move …

For the past three months, China’s Purchasing Managers’ Index has been below 50, a sign that the second-largest economy in the world is getting more and more pessimistic. The sub-index for the important construction industry dropped significantly from a high of 65.6 in March to 51.2 in July. Beijing’s most …