Market Update

European stocks opened higher Monday, June 12, at the start of a week full of important central bank meetings on monetary policies, and shares of the Swiss drug company Novartis rose after it agreed to buy the US-based Chinook. The pan-European Stoxx 600 index rose 0.3%. The Federal Reserve, European …

The Turkish lira fell to a new record low on Monday as investors awaited clues about monetary policy moves after the appointment of a new central bank chief who is expected to raise interest rates. The lira fell 1.3 percent at 23.65 against the dollar at 0834 GMT, after hitting …

The Turkish Central Bank said Monday, June 12, that the country’s current account deficit rose to $5.404 billion in April, which exceeds Reuters expectations, which predicted the deficit would reach $4.5 billion. In March, the Turkish current account deficit recorded 4.903 billion dollars. As for the entire year 2022, the …

Gold prices rose sharply in the midday US trading session on Thursday due to the lower US dollar index and declining Treasury yields. August gold futures were last up $24.60 at $1,983.00 and July silver was up $0.796 at $24.325. Gold continues to move sideways, and we await pending orders …

Following a surprise 25 basis point (bps) rate hike in May, the Reserve Bank of Australia (RBA) board members opted to raise the Official Cash Rate (OCR) by another 25 basis points (bps) to 4.10% at its June policy meeting, delivering another hawkish surprise. According to the most recent Reuters …

Wall Street has given up earlier gains as the US central bank’s policy decision and the Consumer Price Index (CPI) are awaited.The S&P 500 index is up 0.27% after rallying from a low of 4,279.10 to a high of 4,322.20, falling back to 4,303 currently. The benchmark S&P 500 closed …

The AUD/USD pair has reached the 0.6750s on Friday, but it is trading at 0.6738 at the time of writing due to the speculation that the US central bank may not raise interest rates again for some time. This has impacted the US Dollar at the same time that the …

According to the Kommersant business daily, Russian oil companies have seen a 37% surge in fuel exports from January 1 up till May 30 despite the Western sanctions led by Washington over the war in Ukraine. The publication cited an unidentified source familiar with the data. The January-May 2023 gasoline …

The Euro is weakened amid falling bond yields; but the shared currency remains supported by monetary policy divergence.ECB is expected to tighten monetary conditions despite the Eurozone recession. Upcoming US CPI data could set the stage for a surprise at the FOMC meeting. The EUR/USD pair reversed its course after …

Canada’s economy unexpectedly lost 17,300 jobs in May, following a gain of 41,400 in April, according to data released by Statistics Canada on Friday. The net change in employment missed the market expectation of a gain of 23,200 jobs for May. As a result, Canada’s unemployment rate rose to 5.2% …