Market Update

“De-dollarization isn’t on top of my worry list,” International Monetary Fund’s (IMF) Managing Director Kristalina Georgieva said on Monday and added that the doesn’t see an alternative to the US Dollar any time soon.“There may be more vulnerabilities exposed in the banking sector,” Georgieva warned and further noted that they …

Gold price dropped below $2000 on a report by the Institute for Supply Management (ISM), showing that manufacturing activity in the US improved. However, prices jumped compared to last month’s data, sparking speculation that the Federal Reserve (Fed) will tighten monetary conditions next Wednesday. The precious metal is trading between …

The ISM Manufacturing PMI increased to 47.1 from 46.3 in April as the economic activity in the US manufacturing sector continued to decrease, albeit at a slower rate than it did in March. This result was little higher than the 46.6 market forecast.According to further information in the report, the …

In April, the S&P Global Manufacturing PMI for Canada rose above 50. USD/CAD remains within the daily range at roughly 1.3550.The S&P Global Manufacturing PMI increased to 50.2 from 48.6 in March, reflecting a modest increase in business activity in the Canadian manufacturing sector. This figure was lower than the …

Oil prices fell on Monday amid concerns about the economic impact of a possible interest rate hike by the Federal Reserve and weak Chinese manufacturing data, which are enough to offset the supportive impact on oil prices of the new OPEC+ production cuts that took effect this month. The Federal …

Investors are absorbing the buyout of First Republic Bank at the start of a week that contains additional corporate results, a Federal Reserve policy meeting, and the eagerly anticipated monthly employment report. The Dow futures contract was up barely 3 points at 10:45 GMT, the S&P 500 futures were mostly …

Inflation expectations in the United Kingdom fell in April, according to Citi, providing some respite to the Bank of England, which is anticipated to announce its 12th consecutive interest rate hike next week, with investors banking on additional hikes after that. Citi said its monthly poll, conducted by market research …

The US dollar rose in early holiday-affected European trade Monday, kicking off a week that features policy-setting meetings from the Federal Reserve and the European Central Bank, as well as the monthly US employment report. The dollar index, which measures the value of the US currency against a basket of …

The Japanese Nikkei index rose to its highest level in more than eight months on Monday, surpassing the key level of 29 thousand points, after the Bank of Japan continued its easy monetary policy that pushed the yen to its lowest level in nearly two months. The railways and airlines …

Gold prices fell on Monday, weighed down by a stronger dollar, as investors cautiously await the Federal Reserve’s decision to raise interest rates later this week. By 0531 GMT, spot gold fell 0.5 percent to $1980.42 an ounce, and US gold futures fell 0.5 percent to $1989.10. The dollar index …