Market Update

Existing-home sales fell 5.9% to a seasonally adjusted annual rate of 4.43 million in October, the National Association of Realtors said Friday. Compared with October 2021, home sales were down 28.4%.Economists polled by the Wall Street Journal had expected an decrease to 4.37 million units. Sales of previously owned homes …

European Central Bank President Christine Lagarde said the central bank will continue to raise interest rates and may even need to restrict economic activity to control inflation. The European Central Bank raised interest rates by an unprecedented 200 basis points since July to tackle inflation, and said further policy tightening …

The UK retail sales arrived at 0.6% over the month in October vs. 0% expected and -1.5% previous. The core retail sales, stripping the auto motor fuel sales, rose 0.3% MoM vs. 0.6% expected and -1.5% previous. On an annualized basis, the UK retail sales plunged 6.1% in October versus …

European stocks opened higher on Friday after falling for two straight days as investors snapped up falling energy stocks, although hawkish comments from more Federal Reserve officials capped gains. The pan-European Stoxx 600 index was up 0.4% by 0813 GMT, with basic resources stocks rising 1.1%, after falling more than …

The dollar is heading for its best week in a month on Friday, as comments from Federal Reserve officials and stronger-than-expected retail sales data curbed the US currency’s slide after signs of easing inflation. It was also helped by Thursday’s 0.4 percent decline in the British pound after a British …

Annual inflation in Japan rose in October to 3.7%, after it had recorded 3% in September, bringing it to the highest level since January 1991, in light of the rise in commodity prices and raw materials coinciding with the weakness of the yen. The biggest pressure came from food costs, …

Oil prices rose Friday, November 18, with the decline of the dollar, but they are heading towards incurring weekly losses due to expectations that the pace of the sharp rise in US interest rates will not ease, as well as expectations of weak demand from China, the largest importer of …

Gold prices rose on Friday, November 18, due to the decline in the US dollar, but it is still heading towards its first weekly loss in 3 weeks, affected by indications from US Federal Reserve officials that more interest rate hikes are on the way. By 04:33 GMT, spot gold …

Thursday’s market sentiment was negative, providing boosting factor for the US Dollar to recover some of the ground lost earlier during the week. The US dollar maintained mixed performance between ups and downs, but tended to advance.The gloomy market sentiment was partly a result of concerns related to the Ukraine-Russia …

Gold price stays bearish around $1,760, after a two-day downtrend, as sellers cheer the US Dollar’s rebound despite softer US economic data. The precious metal traders digest recent hawkish comments by US Fed officials while market sentiment does not favour risk. The most significant factor for gold trading on Thursday …