Market Update

WTI crude oil is down 0.55% at $70 per barrel due to global economic slowdown concerns. Despite Saudi Arabia and Russia’s supply cut announcement, concerns over manufacturing activity slowdown worldwide continue to impact WTI prices. At the time of writing WTI is trading at $70.24 per barrel.China’s Caixin PMI expanded …

The US economy is showing signs of resilience, with lower inflation seen by shoppers. However, the Federal Reserve’s target interest rate of 2% remains high, and consumers expect inflation to remain high over the coming months but fall in the years ahead to levels closer to those experienced before the …

The GBP/USD pair remains stable at 1.2690, despite the slowdown in US manufacturing activity. UK data shows slight improvement but remains in recessionary territory, raising economic concerns.The US Manufacturing PMI poll revealed that business activity is deteriorating further, with input prices slowing down, signaling inflation edges down amidst 500 basis …

In June, the eurozone’s factory decline got worse. According to a poll that portrayed an increasingly bleak picture for the industry, industrial activity in the Eurozone shrank more quickly than initially estimated in June as continued policy tightening by the European Central Bank strained finances.Surveys released earlier on Monday showed …

After it finally crossed the $30,000 psychological threshold, Bitcoin is currently looking at a strong resistance zone around $31,000, and if it manages to break it, a significant bull run could follow, and historical chart patterns suggest it might even reach $80,000 by the end of 2023. If Bitcoin fails …

US stocks rose slightly Monday in a shortened session that kicked off the second half of what’s already been a stellar year on Wall Street. The Dow Jones Industrial Average added 10.87 points, or 0.03%, to finish at 34,418.47. The S&P 500 climbed 0.12% to end at 4,455.59, while the …

Gold gains momentum after Monday’s US ISM Manufacturing. The Gold Index extends rebounds from monthly lows, tests $1,930 per ounce.US Dollar erases some of its earlier gains, US yields pullback from weekly highs. Following the release of weaker-than-expected US economic data, gold price jumped to $1,931, reaching the highest level …

Russian Deputy Prime Minister Alexander Novak said Monday, July 3, that Russia will reduce its oil exports by 500,000 barrels per day in August. “As part of efforts to ensure that the oil market remains balanced, Russia will voluntarily reduce its oil supplies in August by 500,000 barrels per day …

Gold prices fell on Monday as a stronger dollar reduced the precious metal’s safe-haven appeal and investors awaited non-farm payrolls data in the United States and minutes from the latest Federal Reserve meeting to be published later this week. Spot gold prices fell 0.4 percent to $1911.70 an ounce by …

Japan’s Nikkei index closed at a 33-year high on Monday, with machinery makers leading gains, while a quarterly central bank survey indicated a recovery in business activities. The Nikkei index rose 1.7 percent to 33,753.33 points, the highest closing level since March 1990. The broader Topix index rose 1.41 percent …