Gross domestic product (GDP) in China, the world's second-largest economy, grew by 5.2% year-on-year in the second quarter of this year, ending in June, according to data released by the National Bureau of Statistics this morning, Tuesday, July 15. This compares to 5.4% in the first quarter, exceeding market expectations of 5.1% growth, keeping the Chinese economy on track to...
Cryptocurrencies are recording collective gains in mid-trading on Monday, July 14, the opening session of the week. Bitcoin, the world's most expensive cryptocurrency, rose for the fifth consecutive session, hitting a new record high of $122,000. This coincided with rising optimism over the passage of the US Digital Currency Regulatory Act and increased institutional demand, which supported the rise in...
Asian markets closed mixed at the end of trading on Monday, July 14, the opening session of the week. Japanese markets closed lower as 10-year Japanese government bond yields rose to their highest levels since last March, and tariff concerns resurfaced after US President Donald Trump announced his intention to impose 30% tariffs on the European Union and Mexico. Chinese...
The yellow metal recorded gains for the third consecutive session during midday trading on Friday, July 11, the closing session of the week, as market concerns persist over the US President's recent escalation of the trade tariff war and increased demand for safe haven assets amid a decline in risk appetite. Silver recorded its highest level since 2011, outperforming gold...
Data released recently from the Canadian economy showed that 83,000 jobs were added in June, following an 8,000 increase in May, better than expectations of about 0.9,000. Meanwhile, the unemployment rate fell to 6.9% in June, compared to 7% in May. In detail, the wholesale and retail trade sector added 34,000 jobs, while the healthcare and social services sector added...
Preliminary estimates from the UK Office for National Statistics showed that UK GDP shrank by 0.1% in May, compared to a 0.3% decline in April, confounding expectations of a 0.1% contraction. This reading is expected to see the UK economy grow by 0.5% in the three months to May. Product output fell by 0.9% in May after a 0.6% decline...
Crude oil prices are recording declines in mid-trading today, Thursday, July 10, after recording gains of more than 1% at the beginning of the European session. A Reuters report indicated that some sources indicated that OPEC+ is considering suspending additional oil production increases after the expected increase next month at the alliance's meeting in early August. US crude (NYMEX) is...
Cryptocurrencies are recording collective gains in mid-trading on Thursday, July 10, as Bitcoin, the world's most expensive cryptocurrency, maintains its $111,000 level after hitting a historic high yesterday, Wednesday, when it tested $112,000, benefiting from continued institutional demand, increased risk appetite in the cryptocurrency market, and a rise in market capitalization. The minutes of the US Federal Reserve's meeting two...
Asian markets closed mixed at the end of trading on Thursday, July 10, as Japanese markets closed lower. Chinese indices rose, and the Korean Kospi index gained more than 1.5% after the central bank's meeting. In economic data released this morning, figures released by the Bank of Japan showed that annual wholesale price inflation slowed for the third consecutive month...
The U.S. Energy Information Administration's report released moments ago showed a rise in inventories of 7.1 million barrels in the week ending July 4, compared to expectations for a decrease of 1.7 million barrels. Gasoline inventories fell by about 2.7 million barrels, while distillate inventories, which include heating oil and diesel, fell by about 0.8 million barrels. Brent crude is...