Market Update

The American Petroleum Institute said that crude oil inventories rose by 14.8 million barrels in the week ending on the sixth of January. In its weekly report, the Petroleum Institute stated that gasoline stocks rose by 1.8 million barrels, and distillate stocks increased by 1.1 million barrels. Today, Wednesday, the …

European stocks rose on Wednesday, supported by the rise in shares of the German company Bayer and the French LVMH group, amid investor optimism about the reopening of the economy in China and hopes of slowing the pace of raising US interest rates. The Stoxx Europe 600 index was up …

Oil prices fell on Wednesday, giving up gains from the previous session, after sector data revealed an unexpected increase in US crude and fuel inventories, which raised concerns about fuel demand. West Texas Intermediate crude futures fell 59 cents, or 0.8 percent, to $74.53 a barrel by 0134 GMT, while …

Japan’s Nikkei average rose more than 1 percent on Wednesday to a two-week high, as robotics stocks led gains, despite important US inflation data expected later in the week. The Nikkei index ended Wednesday’s session up 1.03 percent to 26446, and had earlier touched 26479.99 for the first time since …

Gold rose to its highest level in eight months on Wednesday, supported by the dollar’s decline, but it is still moving in a relatively narrow range as investors await inflation data that may affect the Federal Reserve (US Central Bank) raising interest rates. And by 0615 GMT, spot gold prices …

The US Dollar advanced throughout the first half of the day but ended it mixed as Wall Street managed to revert pre-opening losses and posted a modest advance. At the same time, US government bond yields advanced. Investors are unwilling to risk much ahead of the release of US inflation …

US stocks closed higher, on Tuesday, following a choppy session, as markets digested a downgraded global outlook from the World Bank and awaited key inflation data. US stocks have made modest gains after Fed Chair Jerome Powell had said the US central bank may need to make unpopular decisions to …

The Canadian dollar weakened against its US counterpart on Tuesday, as it pulled back from a six-week high as investors await Thursday’s CPI data in the United States. The awaited reading could offer clues on the Fed’s policy intentions. The price of oil, one of Canada’s major exports, settled 0.7% …

The European Central Bank’s governing council member Mario Centeno said on Tuesday the current process of interest rate increases is approaching its end.The ECB’s policymaker added “even though inflation may have some resistance in January and February it will resume falling in March.”EUR/USD pair is trading at 1.0741 at the …

WTI crude oil rose for a fourth-straight session, on Tuesday. WTI price is boosted by optimism due to the reopening of China’s borders. The Federal Reserve is expected to finetune the pace of future rate hiking in the light of Thursday’s reading of Consumer Price Index, in focus. The US …