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July, 2022

• 18 July 2022 4:39 pm

  Goldman Sachs profit rises 23% to $11.86 billion, beating expectations

  

  On Monday, July 18, Goldman Sachs reported earnings and revenue that beat analyst estimates, with fixed-income traders earning nearly $700 million more than expected. Second-quarter earnings fell 48 percent to $2.79 billion, or $7.73 per share, driven by lower industry-wide banking revenue. However, the results were more than a dollar …

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• 18 July 2022 2:35 pm

  Euro is at its highest level in a week

  

  The euro rose to a one-week high on Monday, benefiting from the dollar’s decline after many Federal Reserve officials indicated that they were not in favour of an increased rate of an interest rate hike. These comments, made late last week, pulled the dollar back from its two-decade high and …

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• 18 July 2022 1:15 pm

  Gold rises with the decline of USD

  

  Gold prices rose on Monday, with the dollar falling somewhat, while investors retreated from expectations that the US Federal Reserve will raise interest rates by 100 basis points at its next meeting. And the price of gold in spot transactions increased 0.7 percent to $ 1719.49 an ounce by 0724 …

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• 18 July 2022 12:06 pm

  Oil prices jump with the decline of the dollar and the shortage of supply

  

  Oil prices extended gains on Monday, July 18, supported by a weak dollar and tight supplies, which offset fears about a recession and the possibility that widespread shutdowns in China to combat Covid-19 will again reduce demand for fuel. Brent crude futures for September delivery settled at $103.76 a barrel …

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• 18 July 2022 11:22 am

  Canada sends repaired Nord Stream turbine to Germany

  

  Russia’s Kommersant newspaper reported on Monday, citing informed sources, that Canada sent a Nord Stream gas pipeline turbine to Germany on a plane on July 17 after completing its repair. It will take another five to seven days for the turbine to reach Russia unless there are problems with logistics …

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• 18 July 2022 10:42 am

  Oil prices continue their gains supported by weak dollar and tight supplies

  

  Oil prices extended gains on Monday, buoyed by a weak dollar and tight supplies that offset fears about a recession and the possibility that widespread shutdowns in China to combat COVID-19 will again reduce demand for fuel. Brent crude futures for September delivery settled 69 cents, or 0.7 percent, at …

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• 18 July 2022 2:30 am

  Financial Markets’ Weekly Recap – July 11-15

  

  The US dollar surged to two-decade highs between Wednesday and Thursday after panic across markets that the Fed might decide a record 100-basis point rate hike next to suppress fresh four-decade highs in consumer prices which constitute a threat later downplayed by the US monetary policymakers.On Friday, the US Census …

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• 16 July 2022 3:38 am

  Market Drivers – US Session – Friday, July 15

  

  Following a meeting with Crown Prince Mohammed bin Salman in Jeddah, though US president Joe Biden said he expected Saudi Arabia to take further steps to increase the oil supply in the coming weeks, oil surged 2.5% on Friday after a US official said that an immediate Saudi oil output …

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• 16 July 2022 3:20 am

  Oil rises 2% as no immediate Saudi output hike expected

  

  Oil surged 2.5% on Friday after a US official said that an immediate Saudi oil output boost was not expected, and as investors question whether OPEC has the room to significantly ramp up crude production.The comment during US President Joe Biden’s visit to the kingdom comes at a time when …

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• 16 July 2022 2:48 am

  US Dollar edges lower as Fed’s rate decision eyed

  

  The dollar slid lower on Friday as investors evaluated how high the Fed is likely to raise interest rates by when it meets later in July. Investors also took profits after a strong USD’s rally that sent the American currency to a two-decade high.The dollar has jumped as the Fed …

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• 16 July 2022 2:28 am

  USD/JPY continues rallying for seventh week

  

  The USD/JPY has gained 1.80% in the week, extending its rally to the seventh consecutive week. The USD/JPY retreats from highs at around 139.38, towards the middle of the 138.00-139.00 range on Friday, as Wall Street closes the week with gains between 1.83% and 2.15%, underpinned by positive data that …

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• 16 July 2022 1:12 am

  US adds new oil drilling rigs

  

  Active drilling rigs in the US rose by 4 to 756, the highest since March 2020 and 56% more than a year ago, according to the latest weekly survey from Baker Hughes.Drilling rigs targeting crude oil gained 2 to 599, also the most since 2020, and gas rigs were unchanged …

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• 15 July 2022 11:34 pm

  US equities benefit from better than expected data

  

  US equities surged on Friday, bringing a positive end to a seemingly disappointing week, as strong retail sales data and a survey hinting at easing inflation expectations tempered concerns over the economic outlook.Ealier on the day, Europe’s Stoxx 600 equity index closed 1.8 per cent higher. The S&P 500 share …

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