Market Update

Gold price hardly slides 0.13%, weighed by higher US Treasury bond yields and the strength of the US dollar.Gold price losses some of its brightness at the beginning of the week, down by 0.49%, in a thin liquidity trading day, with US markets, closed in the observance of Labour day. …

On Monday, the Kremlin blamed western sanctions for failure to deliver gas through Nord Stream 1 pipeline. Russia’s Gazprom announced last weekend that the suspension of gas supplies at Nord Stream 1 would be extended indefinitely, citing ‘malfunctions’ along the pipeline. Russia will not resume its natural gas supplies to …

The Bank of Canada is expected to issue its latest monetary policy decision on Wednesday. A rate hike of 75 basis points is widely expected. Analysts believe that central bank will slow down the pace of its rate hikes after this September’s meeting, only taking the policy rate to 3.75% …

The British FTSE 100 index ended slightly higher on Monday as commodity stocks achieved notable gains. Investors looked ahead to the appointment of Liz Truss as Britain’s new prime minister against a deteriorating economic background.The commodity-heavy FTSE 100 ended 0.1% higher, after falling as much as 1.2% earlier in the …

Bank of England BoE policymaker Catherine Mann said on Monday that the of increase rate gradual pace has not sufficiently tempered expectations.BoE Chief Economist Huw Pill also argued that a fast and forceful tightening potentially by a hold or reversal was superior to a gradualist approach.Mann noted that “Long-term expectation …

French President Emmanuel Macron announced EU member states could satisfy gas storage targets, having 92-93% of the storage capacity already filled.Macron’s statements came after his phone talks with German Chancellor Olaf Scholz. Markets paid little attention to these comments and EUR/USD was last losing 0.3% on the day at 0.9920.Additional …

A European Commission spokesman said on Monday that Russia could pump more gas to Europe via other routes after the Nord Stream 1 pipeline was shut down, but Moscow chose not to. “If there is a technical problem that hinders supplies via Nord Stream 1, it is possible, if there …

In its most recent ministerial meeting, the OPEC group decided to reduce oil production by 100,000 barrels per day, compared to the increase approved during the last meeting. The OPEC + ministerial meeting confirmed the negative impact of volatility and low liquidity on the current oil market, and the need …

Iranian Foreign Ministry Spokesman Nasser Kanaani said on Monday that Iran is asking the International Atomic Energy Agency to stop its investigations into Iran’s nuclear activity, noting that this was one of Iran’s conditions for reviving the joint nuclear agreement. The spokesman said in a press statement that Iran is …

The Eurozone Sentix Investor Confidence index came in at -31.8 in September from -25.2 in August vs. -27.5 expected. The index snapped its recovery amid mounting recession fears. The current situation in the eurozone dropped to -31.8 points in September from -25.2 in August. An expectations index tumbled to -37.0, …