Market Update

Official data showed on Wednesday that the Turkish economy expanded by 3.9 percent in the third quarter on an annual basis, a rate slightly lower than expected and slower than it achieved earlier in the year, as domestic and external demand were affected by high inflation and the global slowdown. …

Oil prices rose on Tuesday, amid expectations that China will ease strict restrictions related to Covid-19, but fears that the OPEC + group will keep its production unchanged at its next meeting limited the gains. Brent crude futures settled at $83.03 a barrel, down 16 cents, or 0.2 percent, while …

Japan’s Nikkei fell for the fourth consecutive session on Wednesday as data on weak factory production added to fears of a global economic slowdown, while investors await Federal Reserve Chairman Jerome Powell’s speech for clues about US monetary policies. The Nikkei index ended Wednesday’s trading down 0.21 percent at 27,968.99 …

Generally speaking; risk assets experienced a big deal of uncertainty as the end of November approaches ahead of Fed Chairman Powell’s address on the economy on Wednesday at Brookings Institute. US Nonfarm Payrolls data is looming on Friday. Risk appetite has deteriorated since Monday after Chinese protests police clashes against …

The NZD/USD pair hovers around 0.6200 as investors await US ADP Employment. The pair also encounters an obstacle around the present rate 0.6200 as anxiety rises ahead of Fed Powell’s remarks on Wednesday. Fed’s interest rate hikes account for weaker projections for US employment data.On a different front, the reopening …

Bitcoin and other cryptocurrencies are edging higher on Tuesday but the digital asset space continues to face pressure on multiple fronts, including contagion from the bankruptcy of exchange FTX and the increasing difficulty of crypto mining.The price of Bitcoin surged by 1% over the past 24 hours to just shy …

US stocks slid on Tuesday as Wall Street continued a slow start to the week, with investors continuing to monitor the latest developments related to the sudden surge of protests in China over the government’s “zero COVID” stance.The S&P 500 was down 0.4% in midday trading, while the Dow Jones …

The EUR/USD pair has flattened again as the US session heads into the late afternoon. The pair fell from the 1.0394 high to the 1.0325 low on the day so far and steadies near 1.0340 at the time of writing. Growth stocks on Wall Street experience extended declines, overshadowing a …

Oil prices surged on Tuesday on expectations that China’s strict COVID-19 controls could be eased, but concerns that OPEC+ would keep its output unchanged at its upcoming meeting limited the trading day’s gains.Brent crude futures settled at $84.84 per barrel versus the previous closing price $83.21. WTI crude oil futures …

Preliminary data released on Tuesday indicated that a larger-than-expected decline in annual inflation in Germany to 10%. According to Sebastian Becker, Senior Economist at Deutsche Bank, the downward surprise is largely explained by the unexpected energy price drop. He warns that core inflation dynamics might remain strong for now.Key Quotes: …