A European Commission spokesman said on Monday that Russia could pump more gas to Europe via other routes after the Nord Stream 1 pipeline was shut down, but Moscow chose not to. “If there is a technical problem that hinders supplies via Nord Stream 1, it is possible, if there …
Read More »European shares slide as Nord Stream shutdown extends
European shares fell on Monday after Russia extended a halt to gas flows through the Nord Stream 1 pipeline to Europe, raising concerns about energy prices and growth and prompting governments to announce emergency measures. The pan-European Stoxx 600 index was down 1.6 percent by 0713 GMT, while the German …
Read More »Market Drivers – European Session 2/9/2022
Nonfarm Payrolls in the US rose by 315,000 in August, the data published by the US Bureau of Labor Statistics revealed on Friday. This reading followed July’s increase of 526,000 (revised from 528,000) and slightly better than the market expectation of 300,000. Further details of the publication revealed that the …
Read More »Dollar nears 20-year peak ahead of US employment data
The dollar is set to post a third straight week of gains, approaching a 20-year high against other major currencies, with investors focused on US jobs data to be released later on Friday which could reinforce the trend of big interest rate hikes. The US currency has been rising since …
Read More »European stocks rise after a volatile week
On Friday, September 2nd, European shares recouped some of the losses they incurred during a turbulent week in which concerns increased about the energy crisis, strong inflation data and expectations of an interest rate hike by the European Central Bank next week. The European Stoxx 600 index rose 0.7%, ending …
Read More »Japan’s Nikkei hits one-month closing low as chipmakers falter
Japan’s Nikkei recorded its worst week in nearly three months on Friday, while ending the day flat, and was pressured by fears of aggressive rate hikes globally, while a weak yen provided little support. The Nikkei closed down 0.04 percent to 27,650.84 points, and recorded a weekly decline of 3.4 …
Read More »Euro is facing selling pressure; continuation of the decline needs confirmation 2/9/2022
After several consecutive sessions in which we committed ourselves to neutrality due to conflicting technical signals and trading within a narrow sideways range between 0.9980 and 1.0050, and after several attempts by the euro to consolidate against the dollar, yesterday’s trading witnessed a bearish tendency. We pointed out that breaking …
Read More »The yen hits its lowest level against the dollar in 24 years
The dollar rose broadly on Thursday, September 1st, especially against the yen, as investors geared up to get higher interest rates in the US, while not expecting Japanese rates to move. The dollar hit a 24-year high of 139.69 against the yen in early Asian trade, up 0.5% from yesterday’s …
Read More »European shares hit 7-week low as interest rate hike fears grow
European shares started September sharply lower, as concerns about sharp increases in interest rates and record inflation rates in the region pushed the STOCK 600 index to its lowest level in seven weeks Thursday 1 September. The European index fell for the fifth consecutive day, falling 0.8% by 0715 GMT. …
Read More »Japan’s Nikkei hits one-month closing low as chipmakers falter
Japan’s Nikkei hit its lowest closing level in a month on Thursday, weighed down by losses in chip-related stocks after Nvidia was hit overnight by a US order to halt sales of the top artificial intelligence chip maker to China. The Nikkei fell 1.53 percent to close at 27,661.47 points, …
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