Market Update

The GBP/USD pair has come back above the 1.2100 figure, courtesy of the US Dollar weakness. China’s relaxing Covid-19 restrictions can keep the market’s positive sentiment.The British Pound sharply advances after the European trading session that exhibited choppy trading, bouncing off the day’s lows around 1.2000. the pair is also …

Pending Home Sales in the US declined by 4% on a monthly basis in November, the data published by the National Association of Realtors showed on Wednesday. This reading followed October’s decrease of 4.6% and came in much worse than the market expectation for an increase of 0.6%.Following this data, …

Kremlin spokesman Dmitry Peskov said that his country did not consult OPEC + regarding its response to the Western price ceiling imposed on Russian oil, noting that Russia has the sovereign right to take whatever it deems appropriate to respond to such “illegal measures.” On Tuesday, Russian President Vladimir Putin …

European stocks rose in early trade on Wednesday and the FTSE 100 outperformed its peers after a long Christmas weekend as investors assessed Beijing’s steps towards reopening its Covid-hit economy. The STOXX 600 European shares rose 0.3 percent by 0809 GMT, while the Financial Times 100 rose 0.9 percent, as …

Oil prices fell on Wednesday on fears that a rising number of COVID-19 cases in China, the world’s largest oil importer, would impede the Asian country’s economic recovery as it eases pandemic restrictions, curbing oil demand growth. And by 0710 GMT, Brent crude futures for February delivery fell 68 cents, …

Gold fell on Wednesday, affected by pressure from the rising US dollar, but prices moved in a narrow range due to the absence of any new influences. By 0248 GMT, spot gold fell 0.2 percent to $1811.20 an ounce, and US gold futures fell 0.2 percent to $1818.90 an ounce. …

China published its upwardly revised GDP estimate for 2021, at 8.4% instead of 8.1%. China has also stimulated positive market sentiment following the announcement of easing covid-linked restrictions, which will alleviate the negative impact of such restrictions on the economy. China Immigration Administration announced it would resume issuing visas for …

Following Wall Street’s optimistic opening amid better market sentiment, as US Treasury yields kept advancing in thin trading, gold managed to jump to a fresh three-week high but rapidly returned around its $1,810 comfort zone, specifically, at the time of writing, the precious metal is in bracketing trading range at …

San Francisco Fed’s Thomas M. Mertens, from the Economic Research Department, published a report, on Tuesday, on the central bank’s official website entitled “Recession Prediction on the Clock”. The report could be seen as a recession predictor based on macroeconomic data, particularly the jobless unemployment rate.This economic update was able …

Among the key questions lingering over across financial markets is whether volatility could continue into 2023 as the calendar year turns a corner.Markets were closed Monday to observe the Christmas holiday. In this shortened trading week, investors are expecting either relative quiet or further volatile sessions ahead due to low …