On Tuesday, US equities recovered from a losing streak due to positive economic data. This eased investor concerns about an impending recession caused by the Federal Reserve’s aggressive interest rate increases. US housing, factory orders and confidence data (Source: Commerce Department, Conference Board) In May, new orders for important US-manufactured capital goods unexpectedly increased, and Read More…
US equities closed lower on Monday due to investor caution regarding riskier assets and uncertainty surrounding Russia’s failed mutiny over the weekend. The rebellion led by Russian mercenaries raised doubts about the future of President Vladimir Putin. While Putin expressed gratitude towards the fighters and commanders who avoided bloodshed by standing down, the US State Read More…
Currency futures fell on Friday as the dollar rose on safe-haven appeal. The dollar gained strength against the euro due to disappointing global business activity data, negatively affecting risk sentiment. Additionally, hawkish statements from central banks added pressure on riskier currencies. In June, US business activity experienced a decline, reaching a three-month low. Survey data Read More…
On Wednesday, oil prices increased by one dollar per barrel due to the rise in US corn and soybean prices, which reached multi-month highs. This surge in agricultural prices led to expectations that global crop shortages would decrease the blending of biofuels and subsequently increase the demand for oil. Traders noted that Chicago Board of Read More…
On Tuesday, US equities declined, closing with negative results as investors took profits after a sustained rally amid indications of weakening global demand. Fed Chairman Jerome Powell’s upcoming congressional testimony on Wednesday could further impact the market. The S&P 500 and the Dow were weighed down by Exxon Mobil Corp, causing all three major US Read More…
European equities declined on Monday as investors awaited additional stimulus measures from China and focused on the upcoming testimony from Federal Reserve Chair Jerome Powell. US markets were closed for a public holiday, resulting in thin trading. China’s cabinet met to discuss measures for boosting economic growth. According to state media, China lowered its key Read More…
