Market Update

Statistics Canada will release September Consumer Price Index data on Wednesday, October 19 at 12:30. Following is the expectations by economists from and researchers of seven major banks regarding the upcoming Canadian inflation data.Headline inflation reading is expected to fall two ticks to 6.8% year-on-year, while Core inflation, which excludes …

US stock indexes rose on Tuesday as strong results from Goldman Sachs calmed worries of a substantial hit to profit from accelerating interest rate hikes, but a rise in government bond yields pushed mega cap growth stocks lower.Goldman Sachs Group gained 2.5% after reporting a smaller-than-expected drop in quarterly profit …

The WTI crude oil drops from daily highs of $86.40s to $82.20s on Tuesday. Chinese economic indicators remain delayed, with no rescheduling assigned by the government. The US will release oil from its SPR reserve to keep gasoline prices down.The US crude oil declined more than 3% on Tuesday amidst …

The aggressive stance adopted by the US Federal Reserve and the anticipated rate hike in November’s FOMC meeting amid high inflation constitute some of the factors that do impact gold prices according to most economists and strategists.Investors are unlikely to grow their appetite for gold. There is a flat and …

Wholesale gas prices fell in the Netherlands and Britain on Tuesday, affected by lower demand due to warmer-than-normal weather and ample supply amid stable liquefied natural gas shipments. The Dutch gas contract for the month of the nearest maturity for the fifth consecutive trading day fell 13.50 euros to 116.50 …

Lockheed Martin’s third-quarter earnings report indicated that it beat analysts’ expectations. The report was released on Tuesday and the company posted revenue less than expected. Earnings per share amounted to $6.87, while revenues were recorded at $16.60. According to the report, Lockheed Martin shares gained 0.70% to trade at $400.10 …

Oil prices fell on Tuesday, amid fears of slowing economic activity and lower demand for fuel from China, in light of its adherence to its strict policy to contain the Coronavirus known as (Zero Covid). Brent crude futures fell 41 cents, or 0.45 percent, to $91.21 a barrel by 0948 …

The German ZEW headline numbers for October showed that the Economic Sentiment Index improved to -59.2 while beating estimates of -65.7 vs. -61.9 previous. Meanwhile, the Current Situation sub-index arrived at -72.2 in October vs. -68.0 expectations and September’s -60.5. The Eurozone ZEW Economic Sentiment Index stood at -59.7 in …

Gold prices rose on Tuesday, as a weaker dollar made bullion more attractive to overseas buyers, although risks from an impending Federal Reserve interest rate hike pared gains. And the gold price in spot transactions rose 0.2 percent to $ 1653.31 an ounce by 0709 GMT. But US gold futures …

The US dollar was softer at the beginning of the trading week as UK news impacted global government bonds and the demand on the American currency. The AUD/USD pair trades around 0.6280 after failing to retain gains above 0.6300, while USD/CAD is down to 1.3720, despite discouraging Canadian data. The …