Market Update

Oil prices fell on Wednesday to their lowest level in six months, as fears of a global recession that would dampen demand overshadowed a report showing a decline in US crude and gasoline stocks. Brent crude futures were down 44 cents, or 0.5 percent, at $91.90 a barrel by 0815 …

Britain’s consumer price inflation jumped to 10.1 percent in July to its highest level since February 1982, official data showed on Wednesday, up from an annual rate of 9.4 percent in June, adding to pressure on households. In a Reuters poll of economists, the increase exceeded all expectations that inflation …

Japan’s Nikkei closed above 29,000 on Wednesday for the first time in more than seven months, after Wall Street’s main indexes rose overnight, driven by solid profits from US retailers. The Nikkei rose 1.23 percent to 29,222.77 points, closing at its highest level since Jan. 5. The broader Topix index …

Caution prevailed on Tuesday, with the focus still on a potential global recession. The dollar maintained its dominance despite a short-lived knee-jerk at the beginning of the American session.Wall Street closed mixed, with the DJIA posting substantial gains, the S&P 500 modestly up, and the Nasdaq Composite shedding some ground.Economic …

Gold price holds lower ground near one-week low after two-day downtrend. Mixed sentiment as well as the pre FOMC Minutes anxiety have kept the Gold Index stuck. Recession-related fears have been renewed and even gained major attention with China, Europe in focus.FOMC Minutes will be eyed closely to confirm 75 …

Western Texas Intermediate crude oil has dropped from 1% to 3%, extending its losses to three consecutive days. Mixed US data and weaker Industrial Production as well as Retail Sales from China keep producers uncertain of total oil requirements. The Iran nuclear deal agreement would free additional crude to the …

Markets are awaiting the FOMC Meeting Minutes to decide on the size of the next Fed hike. FOMC will publish the July meeting minutes on Wednesday, August 17 at 18:00 GMT.Policymakers are likely to reiterate their commitment to monitor the data closely. The US dollar started the new week on …

In the US, Treasury yields rose due to the recession worries and along with the concerns that the Federal Reserve will continue its steep interest rate hikes despite nascent signs of a slowdown in inflation. Several Fed policymakers have spoken of the need for continued rate hikes despite the lower-than-expected …

AUD/USD bulls move in to put the Aussie into the green for the day. China and recession worries flared up a flight to the US dollar. The AUD/USD pair has been pressured on Tuesday after weak global economic data, particularly in China, reignited global recession fears. The safe-haven US dollar …

Strong earnings announced by Walmart and Home Depot helped push Dow Jones and the S&P 500 indexes on Tuesday. Shares of both companies are trading higher Tuesday afternoon, sending the Dow Jones Industrial Average into the green territory. The Dow DJIA was most recently trading 267 points (0.8%) higher, as …