Market Update

Oil prices were largely stable on Wednesday, amid bleak signs from data on a surprise build in US crude stockpiles and forecasts by OPEC and the International Energy Agency for oil demand to recover over the next year. Brent crude futures fell 17 cents, or 0.2 percent, to $80.51 a …

Gold prices traded in a narrow range on Wednesday as investors awaited the Federal Reserve’s policy decision later in the day after lower-than-expected inflation data raised expectations for a moderate path in interest rate hikes. There was little change in the price of gold in spot transactions, and it settled …

Japan’s Nikkei average closed at a two-week high on Wednesday, tracking Wall Street’s gains as lower-than-expected US inflation data reinforced expectations that the Federal Reserve may ease the pace of interest rate hikes. The Nikkei rose 0.72% to 28,156.21, its highest close since December 1. The broader Topix index rose …

Economic data dragged the US dollar down after Tuesday’s US Consumer Price Index reading that rose by 7.1% on a yearly basis in November, versus previous 7.7% in October. In the same period, core CPI, which excludes volatile food and energy prices, rose by 6%, below the 6.1% expected.The encouraging …

Tomorrow is Jerome Powell’s last FOMC speech for 2022. The Federal Reserve has previously signaled a general tendency to step down the pace of interest rate hikes upon concluding its two-day meeting on Wednesday, with extensive expectations of a half-point rate hike to a range of 4.25% to 4.5%. Nevertheless, …

The UK will release the Consumer Price Index data on Wednesday, December 14. Economists and researchers of five major banks have provided their expectations on the awaited data as follows:Headline is expected at 10.9% year-on-year versus 11.1% in October while Core, which excludes volatile food and energy prices, is expected …

The Canadian Dollar is breaking out on the back of the softer than expected CPI data in the United States. Technically speaking, the bears have eyes on 1.3380 as a possible last defense for a much deeper correction versus the US dollar.The Canadian Dollar, which had already been heading up …

Oil extended its gains on Tuesday, with supply disruptions and easing anti-Corona restrictions in China, the world’s largest crude importer. Brent crude futures rose 90 cents, or 1.15 percent, to $78.89 a barrel by 1020 GMT, while US West Texas Intermediate crude futures rose 67 cents, or 0.92 percent, to …

European stocks rose on Tuesday as investors hoped that US inflation data due for release later in the day would allow the Federal Reserve to slow the pace of interest rate hikes. The pan-European Stoxx 600 index was up 0.1 percent by 0812 GMT. Technology stocks led the index, rising …

Data showed on Tuesday that Turkish industrial production increased 2.5 percent year-on-year in October, much larger than expected, continuing its year-on-year growth for the 28th month. Data from the Turkish Statistical Institute showed that industrial output also rose 2.4 percent from September on a seasonally adjusted basis.