Market Update

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 …

China’s Prime Minister Li Keqiang has recently warned that the country’s economy is struggling to stay on track, this sort of warning may have a projected impact on the Chinese global investment plans. Some economists believe that any slowdown will also hinder the China’s efforts to present itself as an …

UK prime minister, beset by a scandal over lockdown parties, faces a decisive vote on Monday evening London time. Conservative parliamentarians have handed out to the PM Boris Johnson a potentially lethal blow to his leadership as they have triggered a no-confidence vote which could force him from his position …

Gold price sharply pulled back during the US trading session as a reaction to the stronger US dollar and the jump of higher Treasury yields. The precious metal’s price slid to $1841, retreating to its lowest level since Wednesday.The Gold Index recorded a daily high after the beginning of the …

The Reserve Bank of Australia will have its June monetary policy meeting on Tuesday and is expected to hike the cash rate for a second consecutive month. In May, the RBA decided to raise the benchmark by 0.25% for the first time in over ten years.Observers and market participants argue …

Bitcoin moved higher over the weekend as cryptocurrency traders look for a bottom following a rough six months of selloff.The largest cryptocurrency by market cap about 4% and trades on Monday at $31,298.76. Ether has advanced nearly 5% to $1,855.86.Crypto has continued to move together with stocks. All three of …

Analysts at Wells Fargo expect a more extended series of 50 basis points interest rate increases from the Bank of Canada in July, September and October meetings. They see risks tilted towards a stronger Canadian dollar than their existing USD/CAD exchange rate target of 1.2500.Key Quotes: “The solid growth and …

WTI hit fresh three-month highs near $121 earlier in the session, but has since pulled back to the $118s. Oil prices were initially boosted on Monday amid a Saudi hike, China lockdown easing and following last week’s OPEC+ meeting.Having at one point come within a whisker of hitting the $121 …

Wall Street’s main indexes opened higher on Monday after falling last week, with US-listed Chinese technology stocks rising, boosted by optimism about easing regulatory measures and restrictions imposed to combat COVID-19 in the world’s second-largest economy. The Dow Jones Industrial Average rose 132.34 points, or 0.40 percent, to 33,032.04 points. …