Market Update

Gold prices settled in a narrow range on Friday, as cautious investors assessed the statements of global central banks and awaited the US Nonfarm Payrolls report. After losing nearly two percent in the previous session, spot gold rose 0.2 percent to $1915.42 an ounce by 0930 GMT. US gold futures …

The dollar rose slightly on Friday to maintain some momentum, after jumping in the previous session following a series of decisions by central banks in Europe. Trading was relatively subdued as markets awaited the release of the latest US jobs data later in the day, which could change Federal Reserve …

European stocks fell on Friday, weighed down by losses in technology stocks, after disappointing overnight earnings for their major US counterparts reignited concerns about global economic demand and the impact of rising interest rates. The pan-European Stoxx 600 index was down 0.5 percent by 0812 GMT. Nevertheless, the index is …

Official data showed on Friday that Turkey’s annual inflation fell to 57.68 percent in January, but much higher than expectations. The Turkish Statistical Institute said consumer prices rose 6.65 percent month-on-month, nearly double the 3.8 percent forecast in a Reuters poll. On an annual basis, the survey expected consumer price …

Gold prices stabilized on Friday after heavy selling in the previous session, as traders absorbed the statements of global central banks regarding raising interest rates, but the yellow metal is heading to record its first weekly decline in seven weeks in light of the strength of the dollar. And by …

Japan’s Nikkei closed at a seven-week high on Friday, buoyed by Nasdaq’s strong performance overnight, with Sony and others leading the index higher after announcing strong growth expectations. The Nikkei index rose 0.39 percent to close at 27,509.46 points, the highest closing level since December 16. The index rose 0.46 …

Oil prices made modest gains in early trading on Friday, but were set to incur losses for the second week in a row, as the market looked for more indications of a strong recovery in fuel demand in China to offset the impact of looming recession in other major economies. …

The dollar recovered most of the ground lost in the aftermath of the Fed’s decision amid ECB and BOE monetary policy announcements. The dollar edged higher against most major rival currencies, with the JPY being its strongest rival and the GBP the weakest.Stock markets advanced, partially limiting US Dollar gains. …

On Friday, the US will release the official employment report for January.  Some analysts expect a 220K increase in payroll and a modest increase in the unemployment rate to 3.6%. Other expectations suggest 185,000 rise in Nonfarm Payrolls data following the 223,000 increase in December. The first US NFP report …

Contrary to most expectations, Egypt’s central bank kept interest rates unchanged for the first time since September, stating that it was monitoring the effects of last year’s cycle of monetary tightening on inflation which is at its highest level since 2018. The Monetary Policy Committee maintained the deposit rate at …