Market Update

Oil prices fell on Friday, on track for their fourth weekly decline, as economic concerns in the United States and China renewed concerns about fuel demand growth in the world’s two largest oil consumers. And by 0510 GMT, Brent crude futures fell 37 cents, or 0.49 percent, to $ 74.61 …

A White House official announced on Thursday that a meeting on the debt limit between US President Joe Biden and key lawmakers, which was originally set for Friday, has been postponed. To discuss lifting the debt ceiling, Biden’s advisers met on Wednesday and Thursday with Republican House Speaker Kevin McCarthy, …

A White House official announced on Thursday that a meeting on the debt limit between US President Joe Biden and key lawmakers, which was originally set for Friday, has been postponed. To discuss lifting the debt ceiling, Biden’s advisers met on Wednesday and Thursday with Republican House Speaker Kevin McCarthy, …

The EUR/USD pair drops to 1.0916 as US PPI data slows and unemployment claims rise, strengthening the US Dollar. US Treasury bond yields fall with investors pricing in three rate cuts by the Federal Reserve by December 2023.ECB speakers emphasize slowing inflation in the Eurozone, with further rate hikes left …

ECB Vice President Luis de Guindos said he does not anticipate a euro-area recession in the coming years. According to de Guindos, the ECB’s last decision had very high consensus and markets can be wrong about the terminal rate.“I don’t believe anybody who names a terminal rate”, he added. In …

U.S. stocks dropped Thursday after disappointing earnings of Disney as well as a plunge in shares of regional banks and the threat of a U.S. debt default. Concerns of bank failure popped up again partially because of debt ceiling potential risk as well as liquidity issues regional banks recently show. …

Leading investment firms are shorting US stocks as the global recession-linked fears become more and more severe. The approach is focused on shorting US stocks worth billions of dollars. This wave of selling short is a wager that the market would be under pressure as recession fears intensify. The possibility …

Sterling pound dropped although the rate hike decision of BoE Thursday because of heavy selling from the part of bulls who focused on profit-taking to benefit from the highs reached immediately after the central bank decision. GBP/USD rose to 1.2610 in response to rate hike decision before declining to 1.2543. …

Pound Sterling slides versus the US dollar after the BoE meeting. This comes after Andrew Bailey’s comments on easing inflationary pressures. BoE Chairman adds that inflationary risks are still skewed to the upside and secondary effects are persistent. The Pound experiences heightened volatility against the dollar following the Bank of …

Economists see the upcoming mild recession as a catalyst to kick-start the bull trends for US equities. According to this viewpoint, mild recession equals restart of the secular bull run.Seven of the last eight Fed hiking cycles triggered an economic recession, and US stocks historically do not bottom until a …