The US dollar’s performance undoubtedly attracts investors to favour it above most financial assets and rival currencies. This seems natural as most foreign currencies are now weak. Over the passage of several months in 2022, markets have noticed that European companies underperformed US peers by a significant margin. The same …
Read More »Bitcoin Falls On Market Volatility
Bitcoin slides –1.15% and other cryptocurrencies are also weaker Monday due to negative sentiment for risk-sensitive assets that continued to deteriorate in the wake of Friday’s US jobs data. Crypto holders seem to be prepared for more volatility this week with key inflation data on the economic docket. Bitcoin is …
Read More »Germany endorses EU loans to mitigate energy crisis
On Monday, Germany greed to support joint EU debt in order to encounter the continent’s energy crisis. Last Tuesday, European Economic Commissioner Paolo Gentiloni and Internal Market Commissioner Thierry Breton called for joint borrowing to finance the necessary response to the energy crisis in the Eurozone.German Finance Minister Christian Lindner, …
Read More »Eurozone Sentix Investor Confidence worsens in October
The Eurozone Sentix Investor Confidence index deteriorated to -38.3 in October from -31.8 in September vs. -34.7 expected. The index fell to its lowest level since March 2020, signaling a deep recession. The current situation in the eurozone dropped to -35.5 points in October from -26.5 in September, the lowest …
Read More »German Gas Commission Experts: First relief measure should be in place by end-2022
After 35 hours of consultations, the German Gas Committee on Monday presented its statement to the German government regarding its recommendations for the terms of the gas price support program in Germany. The committee’s statement addressed the following points: The cost of the proposed gas price support package is estimated …
Read More »Turkey’s unemployment rate drops to 9.6% in August
Data on Monday, October 10 showed that Turkey’s unemployment rate fell 0.4 percentage points month-on-month to 9.6% in August, while the seasonally adjusted underutilization of the labor force fell to 19.8%. The rate of incomplete exploitation of the labor force, which amounted to 22.4% in July, has taken a downward …
Read More »Dollar rises slightly as investors await US inflation data
The dollar rose slightly on Monday as investors awaited this week’s inflation data, which is expected to show that price pressures remain strong. Meanwhile, the British Pound fell for the fourth consecutive session even after the Bank of England extended its support to the markets. US data on Thursday is …
Read More »European stocks fall as investors worry about economic growth
European shares fell for a fourth consecutive session Monday, October 10, as investors worried about the impact of rising tension between Ukraine and Russia and central banks’ determination to curb inflation on economic growth and corporate profits. The pan-European Stoxx 600 index was down 0.6% by 0708 GMT, its lowest …
Read More »Gold hits one-week low amid fears of US interest rate hike
Gold prices fell to their lowest level in a week on Monday, after US jobs data reinforced expectations that the Federal Reserve will continue to raise interest rates sharply. Spot gold prices fell 0.5% to $1,686.55 an ounce by 0623 GMT, after hitting its lowest level since October 3. US …
Read More »Oil is falling from its highest level in five weeks
Oil prices fell on Monday from five-week highs as the market took profits following strong gains last week amid expectations of tight supplies after the OPEC+ decision to cut production and before the European Union imposed a ban on Russian oil. Brent crude futures fell 81 cents, or 0.8 percent, …
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