Market Update

Eurozone’s Retail Sales rose by 0.3% MoM in July versus 0.4% expected and -1.0% last, the official figures released by Eurostat showed on Monday. On an annualized basis, the bloc’s Retail Sales came in at -0.9% in July versus -3.2% recorded in June and -0.7% estimated.

European shares fell on Monday after Russia extended a halt to gas flows through the Nord Stream 1 pipeline to Europe, raising concerns about energy prices and growth and prompting governments to announce emergency measures. The pan-European Stoxx 600 index was down 1.6 percent by 0713 GMT, while the German …

Data on Monday showed Turkey’s annual inflation rate rose to a 24-year high of 80.21 percent in August, after the central bank decided to cut interest rates unexpectedly last month, but the data remained below expectations. The Turkish Statistical Institute said consumer prices rose every month by 1.46 percent, compared …

Gold prices stabilized on Monday, after jumping as much as 1.2 percent in the previous session, as cautious investors focused on the path of the Federal Reserve (US Central Bank) raising interest rates after swinging job data. There was no change in the price of gold in spot transactions at …

Oil prices jumped more than $1 a barrel on Monday, extending gains as investors awaited possible moves by OPEC+ producers to adjust production and support prices at a meeting later on Monday. Brent crude futures rose $1.43, or 1.5 percent, to $94.45 a barrel by 0054 GMT, after rising 0.7 …

The Non-Farm Payrolls report has been the dominant market for the past week. Nonfarm Payrolls in the US rose by 315,000 in August, this reading followed July’s increase of 526,000 (revised from 528,000) and came in slightly better than the market expectation of 300,000. The Unemployment Rate rose to 3.7% …

The USD/JPY modestly fell on Friday, after hitting earlier at 140.79, the highest level since 1998. The weaker US Dollar impacted the pair following the official US employment report.gold traded at $1711.40 versus the previous closing price at $1696. Although gold was relieved by $20 rally after the key US …

Under pressure from central bankers determined to quash inflation even at the cost of economic slowdown or even recession, global bonds fell into their first bear market in decades.The Bloomberg Global Aggregate Total Return Index has fallen more than 20% from its peak that was recorded in 2021. Officials from …

At the time of writing, gold is trading at $1711.40 versus the previous closing price at $1696. Although gold was relieved by $20 rally after the key US jobs data, traders opt to stay cautious because of the generally negative macroeconomic data as well as the current gold’s dangerous technical …

Crude oil gained 0.64 cents on Friday and trades at $87.25 versus Thursday’s close at $86.61. Crude prices rallied, on Friday, on the US session’s weaker dollar, declining US oil rigs by 9, in addition to retreating US-Iran talks. The US State Department said that the latest Iranian response in …