Market Update

Data on Friday showed that the annual inflation rate in Turkey jumped to its highest level in 24 years, recording 73.5 percent in May, driven by the repercussions of the war in Ukraine, high energy prices, and the decline of the lira, albeit less than economists’ expectations. Inflation has been …

European shares opened higher on Friday as investors awaited US non-farm payrolls data to place bets on the central bank’s tightening of monetary policy while also bracing for any change in the European Central’s stance at its meeting next week. The pan-European Stoxx 600 index saw broad gains in its …

Oil prices fell on Friday after the OPEC+ group decided to increase production targets a little more than planned, but global supply shortages and increased demand as China eased Covid-19 restrictions curbed losses. The OPEC + bloc, which includes the Organization of the Petroleum Exporting Countries (OPEC) and independent oil …

The dollar fell on Friday as risk appetite increased ahead of US jobs data due later on Friday. Trading witnessed a great calm today, Friday, with the London markets closed due to a public holiday. The dollar index fell 0.1 percent to 101.75 against a basket of other major currencies, …

The Russian newspaper Vedomosti, quoting a source in the oil sector, reported that Russian oil production, including gas condensate, grew by five percent in May, compared to April, to reach 43.1 million tons. This amount is equivalent to 10.19 million barrels per day. In the January-May period, Russia’s oil production …

Data released by the German Federal Statistics Office on Friday showed that the country’s exports rose more than expected in April, rising 4.4 percent from the previous month, while imports rose 3.1 percent. A Reuters poll had expected exports to rise 1.5 percent on a monthly basis. Exports from Germany …

Oil prices were little changed on Friday and held on to the gains they made in the previous session on doubts that oil producers in the OPEC+ cartel could increase crude production enough to offset Russian oil supply shortfalls. the price of West Texas Intermediate crude futures rose one cent …

Gold prices hit a one-month high on Friday with the dollar’s decline, which put the precious metal on track to record its third consecutive weekly increase. By 0214 GMT, spot gold rose 0.2 percent to $1,871.28 an ounce, its highest level since May 9. Gold prices are up about 1 …

Japan’s Nikkei closed at a nearly two-month high on Friday, boosted by gains in Fast Retailing shares after the company reported strong domestic sales. The Nikkei index rose 1.27 percent to close at 27,761.57 points, the highest closing level since April 5, recording the largest weekly jump since March 25, …

US equities edged higher, even despite comments by Fed Vice-Chair Lael Brainard said that the central bank would hardly pause its current rate-hiking cycle amid record inflation levels. Cleveland Loretta Mester said that inflation has not yet peaked and that it’s too early to discuss a potential pause in the …