Market Update

US Treasury Secretary Janet Yellen said on Thursday that the Biden administration is listening to concerns raised by European allies over the US Inflation Reduction Act, a $430 billion green energy subsidy package.Many European Union countries fear their companies will be unfairly disadvantaged by the subsidies contained in the new …

Deputy BoC Governor Sharon Kozicki said on Thursday that the Bank of Canada will study the latest economic data to find out direction and accordingly decide whether or not to raise interest rates, adding it would move forcefully if necessary.At the time of writing. USD/CAD pair trades at 1.3583, namely …

GOLD prices rallied on Thursday, erasing this week’s previous 1.4% drop in Dollar terms as the US currency retreated once more on the FX market ahead of next week’s expected slowdown in Federal Reserve rate hikes, helping New York equities push higher despite a rise in longer-term interest rates in …

US stocks rose in morning trading on Wall Street Thursday, but are still lower for the week after five straight losses.The S&P 500 rose 0.9% as of 10:14 a.m. Eastern. The Dow Jones Industrial Average rose 244 points, or 0.7%, to 33,842 and the Nasdaq rose 1.2%.Energy stocks had some …

The US Dollar falls across the board on Thursday, amid positive risk appetite. The AUD/USD pair strengthens after breaking 0.6750, trims weekly losses. US Initial Jobless Claims rise to 230K and Continuing Claims hit fresh monthly highs.The US dollar’s decline boosted the AUD/USD pair that broke above 0.6745. It hit …

Data from the Iraqi State Oil Marketing Company (SOMO), seen by Reuters on Thursday, showed that Iraq produced 4.43 million barrels per day of crude oil in November, down 221 thousand from October. These figures show that Iraq’s crude production is in line with its quota under the OPEC + …

European stocks fell on Thursday, pressured by falling utilities and telecom stocks amid growing fears of an imminent recession. The Stoxx 600 index was down 0.1 percent by 0815 GMT. The index fell for the fourth consecutive session on Wednesday amid growing fears of slowing economic growth ahead of a …

On Thursday, the dollar recouped some of the losses it posted the day before, as investors focused on expectations of the Federal Reserve’s monetary policy path amid fears that higher interest rates could trigger a recession. With the Bank of Japan holding long-term bond yields near zero, the yen weakened …

Oil prices recovered in early Asian trade on Thursday after tumbling to their lowest level this year, as production and gasoline inventories rose in the United States as concerns grew that an economic slowdown could weaken demand for fuel. Brent crude futures rose $1 to $78.17 a barrel, by 0600 …

The Japanese Nikkei index ended Thursday’s transactions near the lowest level in a month, affected by a weak closing of Wall Street amid economic concerns, as well as the results of companies’ business. The Nikkei fell 0.4 percent to close at 27,574.43 points, its lowest closing level since November 10. …