Market Update

The growth of Chinese exports slowed down in August to post 7.1% on an annual basis from a growth of 18% recorded in July, compared to expectations of a growth of 12.8%, at a time when the Corona pandemic is still casting a shadow on Chinese cities and factories located …

Oil prices rose on Wednesday on the back of Russian threats to withdraw from energy supply contracts, reversing losses incurred earlier in the session when they fell to their lowest levels since Russia’s invasion of Ukraine. Brent crude futures rose 85 cents, or 0.92 percent, to $93.68 a barrel by …

Russian President Vladimir Putin warned on Wednesday of a looming global food crisis. He said he would discuss amending a grain export deal with Ukraine to limit countries receiving shipments. Speaking at an economic forum in the eastern city of Vladivostok, Putin said that Moscow had done everything in its …

The Eurozone economy expanded by 0.8% on the quarter in the three months to June of 2022 vs. 0.6% prior, the final revision confirmed on Wednesday. The market consensus was for a reading of 0.6% in the reported period. On an annualized basis, the bloc’s GDP rate rose by 4.1% …

European shares opened lower on Wednesday as mining and energy companies led the losses as investors remained concerned about the outlook for demand in the wake of weak trade data from China. The European oil and gas index was down 2.2 percent by 0720 GMT, while the mining index lost …

Japanese stocks fell on Wednesday as continued investor fears about an economic slowdown outweighed the strong performance of exporters’ shares, which rose on the yen’s fall. The Nikkei index fell 0.71 percent, tracking losses overnight on Wall Street, as the three major indexes fell after the US services sector report …

Gold prices fell on Wednesday as the dollar and Treasury yields rose after upbeat economic data boosted expectations that the Federal Reserve will continue to raise interest rates sharply. And gold fell in spot transactions 0.5% to $ 1692.99 an ounce (an ounce) by 0330 GMT, after falling earlier to …

The US dollar extended its gains, ending Tuesday higher against most rival currencies. The EUR and the JPY were the worst performers, falling to multi-year lows against their American rival. EUR/USD traded as low as 0.9863, now hovering around 0.9900, while USD/JPY trades a handful of pips below 143.07, a …

At the time of writing, the precious metal trades around $1703. Earlier on Tuesday, gold future traded at $1712.80 with net decline of $9.80 or – 0.56%. Concurrently the dollar index was up 71 points or 0.65% and fixed at 110.22. This could mean that there was fractional buying in …

The Bank of Canada is widely expected to decide one more big interest hike on Wednesday in its endeavour to fight inflation which is currently near forty year high and closer to the 2% target.All 31 economists surveyed by Bloomberg expect policy makers led by Governor Tiff Macklem to raise …