Market Update

Nonfarm Payrolls in the US rose by 315,000 in August, the data published by the US Bureau of Labor Statistics revealed on Friday. 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.  to be updated…

Oil prices rose on Friday, thanks to expectations that the OPEC + cartel will discuss production cuts at a meeting on the fifth of September, but concerns about restrictions to combat Covid-19 in China and the weakness of the global economy continued to limit the gains. By 1140 GMT, Brent …

The dollar is set to post a third straight week of gains, approaching a 20-year high against other major currencies, with investors focused on US jobs data to be released later on Friday which could reinforce the trend of big interest rate hikes. The US currency has been rising since …

Gold prices rose on Friday, September 2 as the dollar retreated from its recent peaks. Still, the precious metal faces its third consecutive weekly loss amid expectations that the US Federal Reserve will stick to its hawkish stance in raising interest rates. And gold rose in spot transactions 0.4%, recording …

On Friday, September 2nd, European shares recouped some of the losses they incurred during a turbulent week in which concerns increased about the energy crisis, strong inflation data and expectations of an interest rate hike by the European Central Bank next week. The European Stoxx 600 index rose 0.7%, ending …

Japan’s Nikkei recorded its worst week in nearly three months on Friday, while ending the day flat, and was pressured by fears of aggressive rate hikes globally, while a weak yen provided little support. The Nikkei closed down 0.04 percent to 27,650.84 points, and recorded a weekly decline of 3.4 …

September brought some additional recession-related concerns to almost all financial markets, however; the American dollar surged, helped by positive US data and the negative market sentiment.The EUR/USD pair trades around 0.9950, while GBP/USD plunged to 1.1497, now trading around 1.1540. Commodity-linked currencies finished the day mixed, as AUD/USD is down …

Proposals Iran sent a constructive response to US proposals concerning efforts to revive the 2015 nuclear pact with global powers according to Iranian Foreign Ministry spokesperson Nasser Kanaani.“The text that was sent by Iran has a constructive approach aimed at finalizing the negotiations”, Kanaani said on early Friday.Iran’s response was …

At the time of writing, gold trades around $1695.60. in order to defend its stance, Gold attempted to build a fort near $1,690 on Thursday after a steep retreating move. Gold seeks a chance to rebound; such a pullback could push gold above the psychological resistance of $1,700.00.The downtrend will …

This Friday’s NFP report for August comes one week after remarks by Fed’s Jerome Powell, in his speech before Jackson Hole symposium, opening the door for important questions, including but not limited to: how much the jobs data will convince Fed’s policymakers of a certain QT course.NFP data has usually …