Market Update

According to the latest data from the Bureau of Economic Analysis and US Census Bureau, the US Goods and Services Trade deficit shrunk to $87.1B in April. That was a little smaller than the expected decrease to $89.5B from $109.80B in March. The Goods trade deficit was $107.74B in April …

Gold prices rose on Tuesday as investors feared the repercussions of central banks’ plans to tighten monetary policy, but rising US bond yields, which supported the dollar, limited the gains. The price of gold increased 0.2 percent in spot trading, recording $1845.20 an ounce by 0842 GMT, recovering after touching …

The dollar rose to its highest level in two weeks, supported by rising US bond yields, which pushed the Japanese yen to its lowest level in more than 20 years against the dollar. The yen fell to 133 yen against the dollar, a level previously highlighted as a trigger for …

Ukraine’s agriculture ministry said on Tuesday that exports of cereals, oilseeds and vegetable oils rose 80 percent in May year-on-year to 1.743 million tonnes, but the quantities were still much lower than exports in the same month of 2021. The ministry added that corn dominated exports with 959,000 tons, while …

Gold prices settled near one-week lows on Tuesday as investors expected central banks’ plans to tighten monetary policy to keep interest rates high for an extended period, which in turn would raise US bond yields and the dollar. The price of gold did not witness little change in spot trading, …

Japan’s Nikkei gave up most of its gains to close flat on Tuesday, as worries about inflation and higher interest rates in the United States outweighed the rise of automakers and energy-related stocks. The index rose 0.1 percent to 27,943.95 points, after exceeding 28,000 points for the first time since …

The Turkish lira fell 0.4 percent against the dollar on Tuesday, amid fears of rising inflation due to President Recep Tayyip Erdogan’s pledge to keep cutting interest rates. In a speech on Monday evening, Erdogan sought to downplay the rise in annual consumer prices to 73 percent last month as …

The market sentiment dramatically changed from optimism during Asian trading session into pessimism during the US session. The early positive mood was on the back of hopes that the global economic situation would start improving after Beijing continued easing coronavirus-linked restrictions.The sentiment deteriorated after the bell on Wall Street, as …

US equities closed slightly higher on Monday after a mixed trading session, helped by gains in Amazon.com and other mega-cap growth shares, while worries over inflation and interest rates threw heavy shades on the market.Consumer discretionary and communication services had the day’s biggest gains. But investors are still focused on …

For now, UK’s Boris Johnson is in office, but there are several questions over his leadership on a poor outcome in the vote. The British pound found buyers at a 61.8% ratio as the UK PMs survived political Monday’s parliamentary confidence vote.At 1.2530, GBP/USD is starting out resting at hourly …