Market Update

The International Energy Agency said on Thursday that oil demand will rise to a record level this year as supply tightens, but in light of adverse economic conditions and interest rate hikes, the increase will be slightly smaller than expected. However, the Paris-based agency expects demand growth next year to …

European stocks rose Thursday, July 13, as US inflation data boosted hopes that the US Federal Reserve is about to end the monetary tightening cycle after the Corona virus pandemic, although a mixed set of economic data limited the increase in gains. The pan-European Stoxx 600 index rose 0.1% by …

Britain’s economy contracted less than expected in May despite the impact of strikes and an extra holiday for banks to mark King Charles’ coronation, putting it on track to avoid contraction in the second quarter of the year. The Office for National Statistics said on Thursday that Britain’s economic output …

Portugal warned that further interest rate hikes by rhe European Central Bank will put the Eurozone growth in peril. The country’s finance minister says tightening to date is not fully absorbed. Further interest-rate increases by the European Central Bank would add to the dangers for the euro-area economy as it …

US stocks climbed after a softer than expected inflation report for June revived hopes the Federal Reserve was nearing the end of its interest rate increases.The Dow Jones Industrial Average was up 265 points or 0.8%, while the S&P 500 was up 0.9% and the NASDAQ Composite was up 1.2%. …

The USD/CHF pair has retreated to an 8-year low due to weak US CPI data, which indicates a more balanced supply-demand situation. The Consumer Price Index shows inflation cooling, with core CPI indicating a more balanced supply-demand situation. With inflation above the Fed’s 2% target, odds for a significant rate …

The Bank of Canada announced that it will raise the benchmark interest rate by 25 basis points to 5% in July, following its July policy meeting. This decision came in line with market expectations, as the Canadian economy has been stronger than expected and more momentum in demand. The BoC …

The dollar fell, hitting a two-month low on Wednesday, July 12, against other major currencies ahead of the release of US inflation data, while the British pound rose to a 15-month high on expectations that the Bank of England will continue to raise interest rates. The yen jumped to the …

Japanese stocks recorded the worst performance among Asian markets on Wednesday, July 12, with the Nikkei index falling to its lowest level in a month, as the yen’s rise curbed a rally in the market, but the possibility of listing a unit of the SoftBank Group limited losses. The Nikkei …

European stocks rose on Wednesday ahead of the release of US inflation data that will determine whether the Federal Reserve is close to ending its monetary tightening cycle. The pan-European Stoxx 600 index rose 0.3 percent in early trade. US data, due at 1230 GMT, is expected to show the …