Market Update

The Euro Zone is experiencing economic setbacks, with the EUR/USD pair piercing the 1.0700 level and maintaining a bearish trend. The dollar is gaining strength, with EUR/USD trading below the 1.0700 threshold for the first time since early June. Financial markets are cautious due to solid US macroeconomic figures and …

Germany’s industrial output fell slightly more than expected in July, the Federal Statistics Office said on Thursday, highlighting the challenges facing the sector after Europe’s largest economy slumped in the winter. Production fell 0.8 percent in July compared to the previous month. Analysts in a poll conducted by Reuters expected …

European stocks fell for the seventh consecutive session on Thursday, heading towards the longest losing streak in more than five years, affected by fears of a slowdown in the European economy and keeping US interest rates high. By 0714 GMT, the European STOXX 600 index fell 0.4 percent, hitting its …

A sharp rise in the dollar pushed the yen to a 10-month low on Thursday and kept the euro and sterling near three-month lows as investors put their full faith in the still-strong US economy despite the bleak global growth outlook. The dollar rose to a new peak at 147.875 …

Oil prices fell on Thursday as concerns about demand during the winter season and China’s unclear economic outlook outweighed expectations of tight supplies as a result of Saudi Arabia and Russia extending voluntary production cuts. Brent crude futures fell 24 cents to $90.36 a barrel by 0412 GMT, after a …

As US markets continue to decline, with the Dow Jones losing 0.57% and the Nasdaq losing 1.05%, risk aversion is still evident. Market investors will pay special attention to Chinese trade statistics throughout the Asian session. Positive results might allay worries about the Chinese economy’s current status.EUR/USD reached fresh monthly …

Following a five-day losing skid, the price of gold has increased from a one-week low to $1,918 on Thursday during the Asian session. Because of the strengthening US Dollar, rising US Treasury bond yields, worries about China, and other factors, the price of gold is declining. The US ISM Services …

In order to build and expand oil drilling projects in the Arctic National Wildlife Refuge, the state of Alaska was awarded oil drilling leases in 2017. The White House administration of President Joe Biden has revealed plans to formally revoke these leases. The leases, issued by the former administration of …

The USD/CAD pair increases as rising US Treasury yields result from positive economic data in the United States. Although the Bank of Canada maintained interest rates steady, it cautions that further increases should not be ruled out. Despite the BoC’s aggressive stance, the US dollar dominates the foreign exchange market, …

According to Federal Reserve’s Beige Book, economic growth was modest during July and August. It added that job growth was subdued. “Most Districts reported price growth slowed overall, decelerating faster in manufacturing and consumer-goods sectors,” the Beige Book noted. Key Takeaways: Contacts from most Districts indicated economic growth was modest …