Crude oil prices are recording some gains in mid-trading on Wednesday, May 28, after two consecutive sessions of decline since the beginning of the week, influenced by market expectations of a further increase from OPEC+ at its meeting early next week. Crude oil is benefiting today from Chevron's decision to ban crude exports from Venezuela and some additional factors amid...
The Reserve Bank of New Zealand's (RBNZ) Monetary Policy Committee (MPC) decided to cut the official cash rate (OCR) by 25 basis points to 3.35% at its meeting this morning, Wednesday, May 28, as expected, for the sixth consecutive meeting. The statement issued by the Bank indicated that annual consumer price inflation rose to 2.5% in the first quarter of...
New orders for durable goods fell in April after four consecutive months of growth, according to a report released by the U.S. Census Bureau just moments ago. Orders fell by $19.9 billion, or 6.3%, to $296.3 billion, compared to a 7.6% increase in March. This indicator bested market expectations of a decline of about 7.6%. Meanwhile, core orders excluding transportation...
Yellow metal recorded declines of more than 1% in mid-trading on Tuesday, May 27, marking the second consecutive session of decline due to the rise of the US dollar, declining demand for safe-haven assets, and increased investor risk appetite stemming from increased optimism that the two largest trading partners will begin trade negotiations that could halt the tariff war. Gold...
European indices posted collective gains in the opening session of the week today, Monday, May 26, with markets absent in the United Kingdom, which is celebrating its spring break. Trump's remarks during the holiday supported the rise in European indices amid the absence of economic figures in the opening session. US President Donald Trump announced yesterday, Sunday, on the social...
Statistics Canada released data just moments ago showing retail sales rose 0.8% in March to $69.8 billion, following a revised 0.5% decline in February. Expectations were for a 0.6% increase, driven by a decline in motor vehicle and parts sales. Core retail sales, excluding gas stations and motor vehicle and parts sales, rose 0.2% in March. Sales rose in six...
Asian markets closed mixed at the close of trading on Friday, May 23, the closing session of the week, following Wall Street. Japanese indices rose as Japanese government bond yields fell during the session, while Chinese indices recorded declines at the close amid a lack of economic indicators from China. Regarding economic data released this morning, figures from Japan showed...
Cryptocurrencies are recording collective gains in mid-trading on Thursday, May 22, as Bitcoin, the world's most expensive cryptocurrency, rose for the fifth consecutive session, hitting a new record high of $111,000. This coincided with rising optimism over the passage of the US Digital Currency Regulatory Act and increased institutional demand for the currency, which supported the rise in the market...
Crude oil prices fell more than 1.5% in mid-trading on Thursday, May 22, affected by reports indicating that OPEC+ is discussing increasing production, raising concerns about oversupply. Meanwhile, inventory figures showed a surprise increase, with US crude (NYMEX) falling about 1.59% to trade at $60.59 a barrel, while Brent crude traded at $63.90 a barrel, down about 1.56%. A report...
Data released moments ago at the start of the European session today, Thursday, May 22, showed divergences in most of the services and manufacturing Purchasing Managers' Indexes (PMIs) in the Eurozone and the United Kingdom in the preliminary reading for May. The Eurozone services index continued to decline, reaching a 16-month low of 48.9 in May, compared to 50.1 in...