Market Update

The pan-European STOXX 600 index declined on Friday, led by semiconductor manufacturers, after weak reports from Samsung and Advanced Micro Devices. At the same time, recession fears persisted amid signs that central banks will remain decisive in tightening monetary policy. The Stoxx 600 index was down 0.2 percent by 0704 …

Top U.S. senators from both parties on Thursday gave momentum to a bill pressuring OPEC+ after the group announced a deep cut in oil production this week despite lobbying by President Joe Biden’s administration to keep the taps open. The so-called No Oil Producing and Exporting Cartels (NOPEC) bill gained …

Oil prices stabilized on Friday, before the announcement of important US economic data, after rising more than one percent in the previous session, after the decision of the OPEC + group of oil producers regarding production targets. By 0339 GMT, Brent crude futures fell 11 cents to $94.31 a barrel. …

Gold prices stabilized on Friday, October 7, ahead of a US jobs report that may support investors’ expectations regarding the path of the US Federal Reserve to raise interest rates, and is heading towards the largest weekly increase since March. By 01:23 GMT, there was little change in gold in …

The EUR/USD pair trades just below the 0.9800 figure, as worse-than-anticipated EU data added pressure on the Euro. Across the Atlantic, the US dollar recovered its positive momentum and closed Thursday with gains against most major rival currencies. The shy tone of global equities and soaring US Treasury yields enriched …

As risk sentiment is still negative and the US dollar index (DXY) has not displayed any sign of exhaustion in the uptrend, consequently, the downside momentum in the EUR/USD could resume sooner.The EUR/USD is attempting to rebound from below 0.9800, while downside seems to be favored. The Dollar Index, DXY, …

The price of gold returns back to flat on the day in what has been a correction of this week’s rally into daily resistance near $1,730. The price fell from a high of $1,725.60 to a low of $1,706.95 but held above the prior day’s lows despite firmer US yields …

On Thursday, Fed speakers kept singing the same battle rhyme. Loretta Mester said the US central bank has more work to do to tame inflation and she has not seen the evidence needed to convince her that the policymakers can slow the pace of interest rate hikes as investors expect …

The EUR/JPY pair fell on Thursday, for the second straight day due to market sentiment that is turning sour, as portrayed by Wall Street’s performance as the stocks market is expected to finish the US session with losses.The US Fed policymakers remain committed to crushing inflation. At the time of …

US Treasury yields continue to rise, boosted by the latest interest rate hike expectations. Treasury yields rose to 3.799% from the previous daily close at 3.575%.A report issued Thursday by the Economist’s Research and Analysis Unit said that the institution “expects further rate hikes by the Fed in November and …