Market Update

On Friday, Russia announced it might cut oil output early in January. The US markets are due to close earlier on Friday amid the Christmas holidays.The American WTI crude price retreated modestly after reaching a fresh monthly high. Crude oil prices are up on Friday, with the West Texas Intermediate …

US stocks extended their losses on Friday as they encountered extended selling that has become a general trait of December ahead of the long holiday weekend.The S&P 500 (^GSPC) and Dow Jones Industrial Average (^DJI) each sank 0.5% after struggling for direction at the open. The technology-heavy Nasdaq Composite (^IXIC) …

The US PCE inflation eased for November as expected. In the United States also, the Durable Goods Orders was disappointing. Meanwhile, the GBP/USD pair struggles to retain the 1.2038 mark as US dollar demand increase ahead of the long weekend.Following a short-lived slide to 1.2022, which is a fresh daily …

The Canadian economy expanded by 0.1% in October as expected. The USD/CAD pair continues to trade in negative territory near 1.3600. Real Gross Domestic Product of Canada grew by 0.1% on a monthly basis in October, Statistics Canada reported on Friday. This reading followed September’s 0.2% growth and came in …

The US dollar Index is still trading within its daily range above 104.00. Sales of new single‐family houses rose by 5.8% in November to a seasonally adjusted annual rate of 640,000, the data published jointly by the US Census Bureau and the Department of Housing and Urban Development showed on …

The Turkish lira fell to a new record low of 18.7 against the dollar on Friday, extending its losses this year, which exceeded 29 percent, despite Ankara’s efforts to implement new policies to tighten control over the local currency exchange rate. The lira fell 44 percent in 2021, mainly due …

Oil prices rose on Friday amid expectations of lower Russian crude exports from the Baltic region this month, alleviating fears that a severe winter storm in the United States could wipe out holiday fuel demand growth. And by 0148 GMT, Brent crude rose 88 cents, or 1.1 percent, to $ …

European stocks were stable on Friday, as gains in health care stocks offset the decline in some luxury goods and technology stocks. The STOXX 600 was down 0.03% by 0810 GMT, but was set to gain 0.6% in the last week before Christmas, after two straight weeks of losses. The …

Gold prices moved in a narrow range on Friday in thin trade as cautious traders await economic data due later in the day to assess the Federal Reserve’s stance on an interest rate hike. By 0238 GMT, gold was stable at $1,792.80 an ounce. US gold futures rose 0.4 percent …

Japan’s Nikkei closed lower on Friday, posting its biggest weekly drop since mid-June, and chip-related stocks led Friday’s declines, trailing their Wall Street counterparts on Thursday. Shipping stocks and other economically sensitive stocks also plunged amid fears that the Federal Reserve and other major central banks will continue to tighten …