Tag Archives: Europe

Turkish President Recep Tayyip Erdogan said on Monday he would never support a rate hike and “never back down from it”, repeating his support for recent interest rate cuts that have caused the lira to plummet. NTV quoted Erdogan as telling reporters during his return flight from a visit to …

WTI crude oil has been under severe selling pressure in recent trade. Oil has settled under $70.00, marking a more than 11% decline on the day, its worst session since last year when future contracts swung deeply into negative territory in April 2020.The oil market’s implosion comes on a day …

Concerning new variant, the latest data from South Africa regarding a recently discovered new Covid-19 variant has caused global health authorities and the scientific community highly concerned. There is a chance that 1) the variant might be more infectious than the Delta variant and 2) might be vaccine-resistant. According to …

The White House announced during a press statement today, Tuesday, that the US President decided to release the strategic oil reserves of the United States of America, estimated at about 50 million barrels, within 3 months, to contribute to calming crude oil prices, especially since oil prices are high and …

Stock futures rose in early morning trading Monday ahead of a short week of trading due to the holiday, a historically strong seasonal period on Wall Street. Futures on the Dow Jones Industrial Average rose 101 points. The futures contracts for the S&P 500 and Nasdaq 100 index were also …

The European session on Wednesday was mostly flat. Gold is now at $1,863.61 an ounce, up 0.7%, while gold contracts are at $1,865.7 an ounce, up 0.63%. As for the US dollar index DXY, which measures the currency’s strength against a basket of foreign currencies, it recorded 95.86, with a …

The European session did not see strong moves and the markets were waiting for the retail sales from the US as well which came in better than expected. The Eurozone economy grew 2.2% on quarter in the three months to September of 2021, beating 2.0% expected and 2.2% previous, the …

The Eurozone economy grew 2.2% on quarter in the three months to September of 2021, beating 2.0% expected and 2.2% previous, the first estimate showed on Friday. Annually, the eurozone GDP rate expanded by 3.7% in Q3 vs. 14.3% seen in the second quarter of 2021 while beating 3.5% expectations. …

There were no major market movers during the European session. The dollar jumped to its highest level in 16 months against the euro and other major currencies on Thursday, while the yen fell towards its lowest levels in several years, after the highest inflation reading in the United States in …

Markets were waiting for US inflation data, which came in better than expected. Inflation in the US, as measured by the Consumer Price Index (CPI), surged to 6.2% on a yearly basis in October from 5.4% in September, the US Bureau of Labor Statistics reported on Wednesday, surpassing the market …