Market Update

Gold prices fell on Monday after the rise in stocks undermined the yellow metal’s attractiveness as a safe haven, while investors were assessing the steps taken by the authorities to allay fears of a crisis in the global banking system. Spot gold fell 1.4 percent to $1,949.99 an ounce by …

Oil production in the semi-autonomous Kurdistan Region of Iraq is under threat after the halt in exports from the northern region forced companies operating there to pump crude to storage facilities with limited capacity. Iraq was forced to stop about 450,000 barrels per day of crude exports from the Kurdistan …

European stocks jumped on Monday as some calm returned to the markets after a week of turmoil over concerns about the stability of the banking sector following the collapse of Credit Suisse and two mid-sized US banks. The pan-European STOXX 600 rose 0.9 percent after news of a deal in …

First Citizens Bankers said on Monday that it would take over the deposits and loans of the collapsed Silicon Valley bank, concluding a chapter of a crisis of confidence that caused turmoil in global financial markets. In a separate statement, the Federal Deposit Insurance Corporation, which took control of Silicon …

The dollar witnessed stability on Monday, while the yen hovered near its highest level in seven weeks, at a time when investors are assessing the measures taken by the authorities and regulators to calm concerns about the global banking system. The dollar index, which measures the performance of the US …

Oil prices rose in early trade on Monday as concerns about turmoil in the banking sector eased. Brent crude futures rose 33 cents, or 0.4 percent, to $75.32 a barrel by 0040 GMT. The price of US West Texas Intermediate crude was $69.65 a barrel, up 39 cents, or 0.6 …

Financial markets witnessed a very volatile week as investors and traders tended to believe that officials’ efforts to calm banking turbulence would allay concerns that the 2008 financial crisis would recur. Recent central banker statements that sounded less hawkish are bolstering the cautious optimism. In particular, today’s light calendar and …

It is predicted that the EUR/USD will end the week with respectable gains of 0.89%. The US economy slowed down overall on Friday, according to mixed economic data. The goal of ECB officials is still to lower the Eurozone’s high inflation rates.Key DevelopmentsJoachim Nagel, the president of the Bundesbank, said …

WTI crude oil, which had fallen by 3% in earlier trading, reduced its losses by 2% to end at $69.215 per barrel, returning to levels that are not much higher than they were almost two years ago. To end the day at slightly under $75 a barrel, Brent crude fell …

US stocks closed in positive territory on Friday after a volatile week following the Federal Reserve’s interest rate decision on Wednesday and further pressure in the banking sector. The S&P 500, which fell as much as 1% in early Friday trading, ended up 0.57%. The Dow Jones and technology-heavy Nasdaq …