Market Update

At the time of writing, gold price is trading at $1786.66 versus the previous closing price at $1792.59.Lower than expected inflation data in the US is exercising downward pressure on the US dollar. This, along with lower real yields, is expected to allow gold to retest $1,800 according to economists.Retreating …

Gold prices steadied on Monday as the prospect of the Federal Reserve raising interest rates next year squandered the support provided by a weak dollar. And gold settled in instant transactions at $ 1791.56 an ounce by 0709 GMT. And US gold futures rose 0.1 percent, recording $ 1,802.50. The …

European stocks rose on Monday, supported by energy companies, after a heavy sell-off last week sparked by growing recession fears as major central banks pledged more interest rate hikes in the future. The pan-European Stoxx 600 index was up 0.5 percent by 0805 GMT. On Friday, the index recorded its …

The headline German IFO Business Climate Index climbed to 88.6 in December versus the previous reading of 86.3 and the forecast of 87.2. Meanwhile, the Current Economic Assessment improved to 94.4 points in the reported month as against November’s 93.1 and 93.5 expected. The IFO Expectations Index – indicating firms’ projections …

Japan’s Nikkei index ended Monday’s trading at a six-week low, tracing the impact of Wall Street’s decline in the previous session, while bank stocks rose on speculation of an interest rate hike in the country. The Nikkei fell 1.05 percent to close at 27,237.64 points, its lowest level since November …

The yen climbed on Monday on news that the Japanese government could soon revise a joint statement with the Bank of Japan (BOJ) over the latter’s inflation target, potentially paving the way for a tweak in the BOJ’s ultra-loose monetary policy. The yen was last 0.4% stronger at 136.19 per …

Oil prices regained ground on Monday, after falling more than $2 a barrel in the previous session, amid optimism that China would lift COVID-19 restrictions and recover oil demand, which outweighed fears of a global recession. Brent crude futures rose 72 cents, or 0.9 percent, to $79.76 a barrel by …

Financial markets’ sentiment was still negative for most of the previous trading week amid accelerating recession-linked fears. This development, for sure, reinforced US Treasury bond yields but the US stock futures and equities in the Asia-Pacific region maintained mostly dull performance ahead of the final batch of data from the …

Berenberg Bank on Friday adjusted its terminal rate forecasts in light of the developments of the last 48 hours, adding an additional 25 basis point rate hike for the Fed in 2023, taking the peak to a range between 5% and 5.25% over the course of the first three meetings …

US equities sank on Friday. US equities are also heading towards a second-straight weekly loss, as more negative and disappointing news on the US economy accelerate a sure decline. The S&P 500 Index and Dow Jones Index were lower around 1.5%, while the Nasdaq fell 1.3%. Earlier in the session, …