Market Update

Wall Street’s major indexes dropped on Thursday after fresh US economic data underlined the US economy’s strength and erased concerns over the Federal Reserve’s continued monetary policy tightening.Losses in rate-sensitive megacap growth stocks such as Apple Inc., Microsoft Corp and Amazon.com Inc pulled technology and consumer discretionary shares lower.The final …

Gold is getting under pressure as US yields jump after Thursday’s US data. The US GDP for the third quarter was revised from 2.9% to 3.2%, meanwhile Wall Street extends losses and the US Dollar surges on the back of the data.Gold prices sharply retreated from nearly $1,820, reaching levels …

Gold prices moved in a narrow range on Thursday as cautious investors awaited US economic data due later in the day, which could affect the pace of the Federal Reserve raising interest rates. And gold recorded in instant transactions $ 1814.03 an ounce by 1118 GMT. And US gold futures …

The yen rose on Thursday, back towards a four-month peak against the dollar hit this week after a surprise shift by the Bank of Japan on bond yield controls spurred bullish bets for the Japanese currency. The yen rose by 0.4 percent to 131.99 per dollar. It hit a four-month …

European stocks rose on Thursday for the second consecutive session, supported by stocks in the financial and energy sectors, as investors were optimistic about improving consumer sentiment in the United States after the decline in inflation expectations. The pan-European STOXX 600 rose 0.3% by 0809 GMT in quiet holiday trade, …

The pace of British GDP growth slowed in the third quarter of 2022, as the economy grew by 1.9%, compared to expectations of a growth of 2.4%, after the economy had previously recorded a growth of 4.4%. On a quarterly basis, the UK economy contracted by 0.3%, compared to expectations …

Gold rose on Thursday, supported by a weak dollar amid weak trading due to the holiday season, but prices moved in a narrow range as market participants await economic data in search of more guidance. Gold in instant transactions rose 0.2 percent to $ 1818.40 an ounce by 0225 GMT. …

Oil prices rose on Thursday for the fourth consecutive day as inventories of crude, heating oil and jet fuel grew tighter in the United States as a winter storm swept the country and travel was set to pick up for the holiday season. And by 0422 GMT, Brent crude futures …

Gold price could be best teller of market drivers’ story on Wednesday. Gold price remains on its direct way to snap two-week uptrend. The US data reinforce the dollar’s recovery but firmer sentiment is sufficient to keep gold buyers hopeful.Economic DataOn Wednesday, US Conference Board’s Consumer Confidence jumped to the …

Germany’s finance ministry expects activity in Europe’s biggest economy to remain subdued during the fourth quarter of this year and first quarter of next and sees declining inflation rates during 2023, it said in its monthly report per Reuters.The EUR/USD pair is still unchanged around 1.0600, paying little attention to …