Market Update

The euro rose on Monday as risk appetite increased as investors awaited the European Central Bank’s Monetary Policy Committee meeting later this week. The single European currency rose 0.2 percent against the dollar to $ 1.074. The euro recently rose against the dollar after increasing government bond yields amid expectations …

Gold prices rose slightly on Monday, supported by a slight decline in the US dollar and US Treasury bond yields, but the outlook for the yellow metal price remained fragile in the face of interest rate hike prospects from major central banks. Spot gold rose 0.2 percent to $1,854.83 an …

Oil futures rose above $120 on Monday after Saudi Arabia raised crude selling prices in July, indicating a tight supply even as the OPEC+ producers agreed to accelerate production increases over the next two months. Brent crude rose 68 cents, or 0.6 percent, to $ 120.40 a barrel by 0640 …

Japan’s Nikkei closed at a two-month high on Monday, as energy stocks rebounded on higher oil prices while technology firms rebounded. The Nikkei rose 0.56 percent to 27,915.89 points at the close, after it began the session falling to 27,523.95 points, after selling led by the technology sector on Wall …

Around the end of 2021, nobody was talking about a US recession, but now, the dreaded ‘recession’ word is on everybody’s lips. During the week, Tesla CEO Elon Musk voiced this fear using the “super bad feeling” phrase about the US economy. “Lots of luck on his trip to the …

US equities finished the last trading session of the week with heavy losses, between 1.05% and 2.47%. Positive US jobs report further cemented the case for a US Federal Reserve rate hike of 50 bps in the June meeting, despite worries that the US central bank could cause a recession.Economic …

US President Joe Biden ignores Elon Musk’s fears about the US economy by pointing to latest investments made by the electric-carmaker’s competitors. Biden also took an indifferent situation at Musk saying “Lots of luck on his trip to the moon”.Biden, on Friday, warmly praised some of Musk’s competitors for expanding …

US energy companies have kept oil and natural gas rigs unchanged this week as crude output slowly recovers from the impact of the coronavirus pandemic with many producers still more focused on returning money to shareholders.The oil and gas rig count, an early indicator of future output, were flat at …

On the week’s last trading day, the USD/CHF pair jumps from weekly lows erasing Thursday’s losses, the pair also gains 0.56% as the New York session gets closer to its end. The USD/CHF is trading at 0.9626, reflecting a downbeat mood and a strong US Dollar, underpinned by high US …

The S&P 500 fell 1.6%, while the Dow Jones Industrial Average shed 350 points, or 1%. The Nasdaq Composite tumbled 2.5%. Meanwhile, the most notable move following the jobs report came from the bond market, with the yield on 10-year Treasury jumping as much as 7 basis points to near …