Market Update

Procter & Gamble reported year-over-year declines in revenue and profit on Thursday, as higher prices look to offset declining sales volumes and foreign exchange headwinds. Here’s how P&G performed in its fiscal second quarter of 2023 compared with what Wall Street anticipated, based on an average of analysts’ estimates compiled …

European stocks rose on Friday as bullish investors weighed the potential impact of the week-long Lunar New Year holiday after China lifted restrictions imposed to curb the spread of COVID-19, but fears of a global economic slowdown continued to dampen sentiment. The pan-European Stoxx 600 index was up 0.2 percent …

Japan’s Nikkei erased early losses to close higher on Friday, as sentiment was boosted by a rise in US futures after Wall Street’s losses Thursday night, as well as a decline in the yen. The Nikkei ended the session up 0.56% to 26,553.53 points, after it had fallen 0.3% earlier …

The US dollar hovered near seven-month lows on Friday as fears of an economic slowdown dampened risk appetite, while the yen weakened even as speculation mounted that the Bank of Japan will eventually abandon its ultra-loose monetary policy. The dollar index, which measures the performance of the greenback against six …

Oil prices rose on Friday on optimism that the Federal Reserve will end the monetary tightening cycle, boosting the economy and supporting fuel demand. By 0113 GMT, Brent crude futures for March delivery rose 48 cents, or 0.6 percent, to $86.64 a barrel, while US crude prices increased 54 cents …

The US Dollar exhibited negative performance on Thursday, as the gloomy mood that ruled financial markets eased later on the day, but most European and US indexes closed in the red territory.Hawkish comments from ECB and US Fed’s policymakers suggested central banks are far from done with their quantitative tightening …

The Canadian dollar strengthened against American currency on Thursday. The CAD was able to recover from a nearly two-week low, but the move was limited as global equity markets lost ground and domestic data showed wholesale trade in November rose less than expected.Canadian wholesale trade increased by 0.5% in November …

New Zealand Prime Minister Jacinda Ardern announced her term would end by February 7. She does not have “the energy” necessary for reelection for office on October 14. A new leader will be voted in a few days. The announcement had little impact on the NZD.The NZD/USD pair is trading …

Fed’s Vice Chair Lael Brainard said that ”there are reasons to think high inflation in the more labour sensitive “core services ex-housing” basket might reflect the pass-through of pandemic and war one-offs and not solely cyclical strength from tight labour markets.“Inflation has been declining over the past several months against …

The US dollar slid on Thursday against major currencies in a choppy US trading session as data continued to indicate that the US economy is slowing down in the wake of multiple rate hikes by the Fed as investors and traders expect the central bank to pause or at least …