Market Update

Existing Home Sales in the United States sharply declined for the fifth straight month in June to a seasonally adjusted annual rate of 5.12 million, the National Association of Realtors reported on Wednesday. Sales were down 5.4% and 14.2% on a monthly and yearly basis, respectively. Details of the report …

The International Monetary Fund announced that it lowered its growth forecasts for Germany to 1.2% for 2002 and to 0.8% for 2023. In its previous forecast, the IMF was expecting the German economy to grow by 2% in both years.“Uncertainty is very high, with risks to the baseline growth forecast …

The media world breathed a huge sigh of relief Tuesday, especially in streaming as Netflix’s second-quarter earnings report revealed the company lost 970,000 subscribers. And while that is a big number — the biggest subscriber loss in the company’s 25-year history — it is also a little less than half …

On Tuesday, the Turkish lira fell as low as 17.579 against the US dollar. The dollar’s strength and concerns about rising domestic inflation and low-interest rates pushed the currency to its weakest levels since a major currency crisis in December. Since the historic crash last year, the central bank has …

European shares hovered near six-week highs on Wednesday, July 20, as concerns over energy supplies eased after a report that Russian gas supplies would resume on schedule, while markets focused on Italian Prime Minister Mario Draghi’s speech to parliament amid a political crisis. The pan-European Stoxx 600 index rose 0.4% …

The American Petroleum Institute said that crude oil inventories rose by 1.9 million barrels in the week ending on the fifteenth of July. The weekly report of the American Institute revealed that gasoline stocks rose by 1.3 million barrels last week, while distillate stocks decreased by 2.2 million barrels. The …

Japanese stocks extended gains on Tuesday, albeit with modest performance, as investors refrained from any big moves ahead of the Bank of Japan’s monetary policy meeting, despite diminishing expectations for a large interest rate cut in the US central bank. The Nikkei index started its trading, up 0.8 percent, to …

Gold fell on Wednesday as fears of monetary policy tightening and an increase in Treasury yields dispelled relief from the dollar’s decline. By 0610 GMT, gold fell in spot transactions 0.3 percent to $1,706.85 an ounce. US gold futures fell 0.3 percent to $1,706 an ounce. The dollar fell for …

Russian President Vladimir Putin said on Tuesday that the Kremlin-controlled energy giant Gazprom was ready to fulfill its commitments on gas exports. Speaking to reporters after his visit to Tehran, Putin also said that Gazprom was not responsible for reducing gas transportation capacity, including the closure of one of the …

The UK Consumer Prices Index (CPI) 12-month rate came in at 9.4% in June when compared to 9.1% seen in May while beating estimates of a 9.3% print, the UK Office for National Statistics (ONS) reported on Wednesday. Meanwhile, the core inflation gauge (excluding volatile food and energy items) eased …