Market Update

The Turkish lira lost 1 percent of its value against the dollar on Tuesday, continuing the declines it recorded during the last period, amid expectations that the state will end its control over the currency after the appointment of Mehmet Simsek as Minister of Finance. Investors are anticipating a shift …

Eurozone’s Retail Sales came in at 0% MoM in April versus 0.2% expected and -0.4% previous, the latest official figures released by Eurostat showed on Tuesday. On a yearly basis, the bloc’s Retail Sales dropped 2.6% in April versus -3.3% booked in March and -1.8% expected. The Retail Sales released …

The AUD/USD has risen for the fourth day in a row, and it is set to continue its upward trajectory. The Reserve Bank of Australia (RBA) raised interest rates on Tuesday, which lifted the Australian dollar across the board. Gains were restrained throughout the American session owing to risk aversion, …

European stocks opened flat on Tuesday, as fears of major central banks raising interest rates to counter slowing economic growth offset support from defensive healthcare stocks. The European Stoxx 600 index settled at 459.78 points. The index had fallen in the previous session due to data that indicated weak activity …

Japan’s Nikkei index continued to climb on Tuesday, supported by institutional stocks. The Nikkei reversed course, after posting losses earlier in the session, to close nearly 1 percent higher at 32,506.78 points. The index closed at its highest level since July 1990. The broader Topix index rose 0.74 percent to …

The Australian dollar jumped to its highest level since mid-May on Tuesday after the Reserve Bank of Australia raised interest rates. And the US dollar continued its decline from the highest level in two and a half months, which it reached last week, against major currencies, after unexpectedly weak data …

Oil prices fell on Tuesday, giving up most of the gains made in the previous session, after Saudi Arabia, the world’s largest oil exporter, announced its intention to cut production further. Brent crude futures fell 23 cents, or 0.3 percent, to $76.48 a barrel by 0020 GMT. US West Texas …

US economic data depressed the US dollar, erasing Friday’s gains. The positive job statistics from the previous week had helped the dollar gain ground, but on Monday, the data took a turn for the worse and the currency lost ground. The Nasdaq fell 0.09% while the Dow Jones fell 0.59%. …

Weaker-than-anticipated US economic numbers fuel recession fears, pushing up the Swiss Franc, which hurt the USD/CHF pair.The USD/CHF pair is technically unaligned and waiting for a new catalyst to provide clear market direction. Expectations of a hawkish Swiss National Bank may act as a stimulus for more USD/CHF decline amid …

On Monday, the S&P 500 index closed slightly lower after touching its highest gains since August. The benchmark index erased earlier gains and lost 0.2% to finish at 4,273.79 1. The Nasdaq Composite also dipped 0.09% to close at 13,229.43, while the Dow Jones Industrial Average dropped 199.90 points or …