Market Update

Oil prices stabilized on Thursday after the International Energy Agency raised its forecast for demand growth for crude this year, as rising gas prices prompted some consumers to switch to oil. By 0829 GMT, Brent crude futures fell seven cents, or 0.1 percent, to $ 97.33 a barrel, while West …

European shares started Thursday’s session higher to consolidate gains in the previous session after data showed signs of slowing inflation in the United States, while shares of Dutch insurance company Aegon rose after raising its full-year forecast. The pan-European Stoxx 600 index rose 0.4 percent after its best session in …

Auto sales in China rose 29.7 percent in July compared to a year ago to 2.42 million units, continuing the recovery that began in June, supported by the easing of Covid-19 restrictions and government incentives. Data released by the China Association of Automobile Manufacturers on Thursday showed that sales for …

The US dollar fell following the release of US inflation reading. The dollar ended the trading day in the red territory against all major rival currencies. Safe-haven currencies edged higher against the US dollar, with USD/CHF now changing hands at 0.9426 and USD/JPY trading at 132.90. Gold was the worst …

US politician Ralph Nader has issued a statement calling Tesla’s full self-driving technology “one of the most dangerous and irresponsible actions by a car company in decades.”Nader called on the National Highway Traffic Safety Administration (NHTSA) to use its safety recall authority to order that FSD technology be removed in …

Gold price is advancing towards $1,800.00 after a healthy correction. The precious metal trades at 1,792 at the time of writing amid a risk-on market sentiment that has infused fresh blood into the gold bulls.Cooler than expected US CPI has trimmed extremely hawkish Fed bets. Gold price has picked bids …

The dollar index was down 1.025% at 105.26 at 3:15 p.m. The US dollar broadly fell on Wednesday following a cooler than expected US inflation reading for July that raised expectations of a less aggressive interest rate hike cycle than previously anticipated from the American central bank. US consumer prices …

o On Wednesday, Sweden reportedly overtook France as Europe’s largest net power exporter in the first half of 2022, as deep-rooted problems reduced French nuclear availability to historic lows. France has lost its position as Europe’s biggest exporter of electricity as the nation struggles with extended outages at its nuclear …

Fed’s Neel Kashkari said while he is happier to see inflation surprised to the downside, the Fed is far far far away from declaring victory on inflation. He added that ”this doesn’t change my rate hike path”, and he is expecting 3.9% end of this year 4.4% end of next …

The price of Bitcoin (ETH), the leading cryptocurrency, surged to an intraday high of $24,010 on the Bitstamp exchange at 12:48 a.m. UTC. Ethereum (ETH) and other top altcoins also spiked sharply higher. Crypto markets responded favourably after the slower than expected CPI reading, which takes pressure off the Federal …