Market Update

The US July PPI drops unexpectedly in July while jobless claims hit monthly highs. The US dollar remains in negative territory, even as US yields rise.The EUR/USD pair is up for the fifth consecutive day, holding under Wednesday’s top. The pair has failed to break Wednesday’s highs around 1.0355 and …

Those who are looking for signs of a recession are advised not look at Disney’s earnings report or the performance of Disney plus, in particular. Disney plus is only 18 months old, a really incredible performer.Disney stock surged by 73% in its theme park revenue year over year and smashed …

In its monthly report published on Thursday, the Organization of the Petroleum Exporting Countries (OPEC) said that it lowered the 2022 full-year demand growth forecast to 3.1 million barrels per day (bpd) from 3.36 million bpd, as reported by Reuters.

There were 262,000 initial jobless claims in the week ending August 6, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 248,000 (revised from 260,000) and came in slightly lower than the market expectation of 263,000. Further …

The dollar recorded further losses against other major currencies on Thursday after traders reduced their bets that the Federal Reserve (the US central bank) would raise interest rates aggressively after US inflation data that came the previous day was weaker than expected. And the dollar index, which measures the performance …

Gold prices fell on Thursday from their highest levels in more than a month, as comments from Federal Reserve officials pointed to further interest rate hikes despite signs of easing inflation in the world’s largest economy. Gold is highly affected by rising US interest rates, because they increase the opportunity …

Oil prices stabilized on Thursday after the International Energy Agency raised its forecast for demand growth for crude this year, as rising gas prices prompted some consumers to switch to oil. By 0829 GMT, Brent crude futures fell seven cents, or 0.1 percent, to $ 97.33 a barrel, while West …

European shares started Thursday’s session higher to consolidate gains in the previous session after data showed signs of slowing inflation in the United States, while shares of Dutch insurance company Aegon rose after raising its full-year forecast. The pan-European Stoxx 600 index rose 0.4 percent after its best session in …

Auto sales in China rose 29.7 percent in July compared to a year ago to 2.42 million units, continuing the recovery that began in June, supported by the easing of Covid-19 restrictions and government incentives. Data released by the China Association of Automobile Manufacturers on Thursday showed that sales for …

The US dollar fell following the release of US inflation reading. The dollar ended the trading day in the red territory against all major rival currencies. Safe-haven currencies edged higher against the US dollar, with USD/CHF now changing hands at 0.9426 and USD/JPY trading at 132.90. Gold was the worst …