Market Update

Eurozone bond yields sharply surged on Thursday and the Italian 10-year yield breached 4% for the first time since June, but this happened only briefly. Traders continue betting on a jumbo interest rate hike in next week’s ECB monetary policy meeting.Eurozone money markets on Thursday were discussing the 85% chance …

US equities fell on Thursday as traders continued to debate over the possibility for higher rate policy by the Fed.The Dow Jones Industrial Average fell 150 points, or 0.5%. The S&P 500 and Nasdaq Composite declined 1.1% and 2.2%, respectively. All of the major averages are on track to finish …

Markets are becoming harder and harder to predict in 2022. One of the biggest questions, right now, is whether a reliable common measure of volatility can work and show risk direction.Traders lack a reliable measure of the risk level when they have to make investment decisions. Instead, they derive direction …

US dollar is soaring after the ISM Manufacturing PMI data. The GBP/USD pair drops for the fifth successive day. So, the stronger US Dollar pushed the pair under 1.1500 for the first time since March 2020. The dollar is sharply rising following the positive US economic data, amid risk aversion …

According to the Fed Bank of Atlanta’s GDPNow model, the US economy is expected to grow at an annualized rate of 2.6% in the third quarter, up from 1.6% in the previous estimate.“After this morning’s construction spending release from the US Census Bureau and this morning’s Manufacturing ISM Report On …

The EUR/USD pair has collapsed by 1% after upbeat US economic data. The pair breaks below parity, extending its losses after hitting on Wednesday a weekly high at 1.0079.Better than expected US S&P Global and ISM Manufacturing PMI further support Fed’s rate hiking stance and even a jumbo 75 bps …

A document seen by Reuters on Thursday showed that the OPEC + joint technical committee expects a deficit in the oil market in 2023 of 300,000 barrels per day. The committee, which held a meeting on Wednesday, expected demand to fall short of supply by 400,000 barrels per day this …

Gold prices fell briefly below the $1,700 key level on Thursday for the first time in six weeks as major central banks tightened monetary policy to combat inflation, curbing demand for the non-yielding yellow metal. Spot gold fell 0.4 percent to $1,704.70 an ounce by 0917 GMT, after touching $1,699.30 …

The dollar rose broadly on Thursday, September 1st, especially against the yen, as investors geared up to get higher interest rates in the US, while not expecting Japanese rates to move. The dollar hit a 24-year high of 139.69 against the yen in early Asian trade, up 0.5% from yesterday’s …

Oil prices continued declining in Thursday’s trading, with the rise of the dollar and increasing concerns about demand, in addition to the reduction of the joint technical committee of OPEC + its forecast for the excess oil supply during this year. In China, closures will be imposed in the city …