Market Update

Nonfarm Payrolls in the US rose by 261,000 in October, the data published by the US Bureau of Labor Statistics revealed on Friday. This reading came in much higher than the market expectation of 200,000. Additionally, September’s reading got revised higher to 315,000 from 263,000. The Unemployment Rate edged higher …

The euro and the pound sterling recouped some of their losses on Friday, but were still heading for their biggest weekly decline since September, ahead of US employment data that could confirm Federal Reserve Chairman Jerome Powell’s hint this week of continued monetary tightening, sending the dollar higher. Improved investor …

European shares opened higher on Friday, with luxury goods and mining companies leading the upward trend amid hopes that China will soon ease its strict restrictions related to the fight against the Coronavirus. The Stoxx 600 index rose 0.7% by 0813 GMT, supported by a 3.2% jump in mining stocks, …

The Japanese Nikkei index ended lower Friday’s trading in the Tokyo Stock Exchange, as the tightening monetary policies of the US Federal Reserve prompted investors to sell on their return from a national holiday. However, strong gains in Chinese stocks limited losses. The Nikkei average fell 1.68 percent to 27,199.74 …

The markets focused on the Bank of England on Thursday. BoE hiked its benchmark rate by 75 bps as expected. However, policymakers downwardly revised the growth forecast, anticipating the recession will continue into the future. The EURUSD pair hovers around 0.9750 after falling to 0.9729. Commodity-linked currencies extended their slides …

The early Asia session witnessed some important news on the oil market which could influence and impact crude oil prices in the following sessions.The US Department of Energy said it sold 15 million barrels of oil from the Strategic Petroleum Reserve in what is mainly described as the last batch …

Canada’s crypto adoption rose to 8%, with more than 2.6 million investors currently. In the 2022 budget, a government’s plan to launch a financial sector legislative review was announced.Quebec’s energy supplier, Hydro-Quebec, proposed cutting electricity off for blockchain operations. India also is leading crypto adoption on a global scale, but …

The US dollar is firmer and was able to record gains against major currencies on Thursday after Fed Chair Jerome Powell signaled US interest rates will likely peak at a higher level than markets expected, while sterling fell after the Bank of England raised rates but warned of a “very …

Nonfarm Payrolls in the US are forecast to increase by 200,000 in October. Gold is likely to react slightly stronger to a disappointing jobs report than an upbeat one. Gold price action has no historical apparent connection with NFP deviation four hours after the data release.The US Dollar Index looks …

Wall Street’s main indexes extended their stay in the red territory and recorded losses for a fourth straight session on Thursday as investors got more concerned that the US central bank could raise interest rates for longer than previously expected.Market participants were hoping that the Fed, which raised rates by …