Market Update

European stocks rose on Friday, on track for their best weekly performance since November, with natural gas futures falling and positive economic data as investors await inflation data in the eurozone. The Stoxx Europe 600 index rose 0.1% by 0815 GMT, bringing its weekly gain to 3.4% so far. All …

Japan’s Nikkei index recovered early losses to close higher on Friday as investors bought back falling stocks and the yen fell against the dollar. The Nikkei index closed up 0.59 percent at 25,973.85 points, after it started trading on a lower note, affected by the decline on Wall Street at …

Oil prices rose about 1 percent on Friday, extending gains from the previous session, after data showed a decline in fuel stocks in the wake of the winter storm that swept the United States at the end of last year. And by 0203 GMT, Brent crude futures rose 79 cents, …

The dollar soared early on Thursday, boosted by the atmosphere typically denoting a hawkish Fed. The American currency gained additional momentum ahead of Wall Street’s opening following the release of upbeat US employment-related data. The EUR/USD pair fell to a fresh weekly low of 1.0514, recovering a few pips ahead …

The price of gold is facing difficulties in stretching its recovery move further ahead of US NFP data. The Fed might continue its interest rates on an elevated level for a longer period in light of the latest positive US ADP Employment Change data in addition to further dollar’s surge …

Binance’s attempt to acquire bankrupt crypto lender Voyager Digital is facing opposition from the US SEC and financial regulators. The SEC and US Trustee and state regulators from New Jersey and Vermont are concerned assets could be moved offshore. The commission has cast doubt on Binance’s financial ability to go …

Ethereum rebounded above $1,260 for the first time in three weeks, as whale transactions in the altcoin accelerated.Large wallet investors are interested in scooping up Ethereum as altcoins begin their recovery in 2023. Users are likely to prefer liquid staking as soon as they have completed their withdrawal from Ethereum’s …

WTI managed to trim some of its 9% losses attained during the week and reclaimed the $73.00 mark. Recessionary fears sparked by weak PMI readings in China and the US dampened oil investors’ appetite.The US crude oil benchmark, rebounds around month lows of $72.50 per barrel and climbs above the …

Natural gas futures touched fresh levels in the green territory marking the first gain in 2023, amid estimates for a massive storage withdrawal report. After dropping 48.7 cents on Tuesday, and closing below $4.00, the February Nymex natural gas futures contract on Wednesday gained 18.4 cents day/day and settled at …

The US Dollar sharply surges on the back of fresh US economic data, so far the Dollar Index has hit highest in almost one month. The USD/CAD pair rebounds from 1.3475 toward 1.3600 ahead of the awaited US and Canadian employment reports on Friday. The USD/CAD is up on Thursday …