The three major US stock indices recorded declines at the opening of trading today, Thursday, August 14, shifting from the positive trading in futures before the opening, supported by corporate earnings and rising expectations of a US interest rate cut. However, producer price figures exceeded expectations, reducing bearish bets and negatively impacting the opening of the US market, with the...
Gold has been trading sideways since the beginning of the week between $3,330 and $3,370, with it stabilizing at midday trading today, Thursday, August 14, at $3,356 per ounce, up 0.05%, with the US dollar declining. Gold is affected by two factors: declining geopolitical tensions versus expectations of a US rate cut, which is causing sideways trading. The first option...
Preliminary estimates from the UK Office for National Statistics showed that UK GDP grew by 0.4% month-on-month in June, compared to a 0.1% decline in May. This was better than the 0.2% forecast, outweighing the impact of tariffs and business uncertainty. Conversely, the economy grew by 0.3% in the second quarter of this year, ending in June, after growing by...
Cryptocurrencies continue to record collective gains in mid-day trading on Wednesday, August 13. Ethereum leads the gains, approaching its previous record highs set in November 2021, amid increased risk appetite in the markets and rising expectations of a US interest rate cut following mixed inflation figures. Altcoins have been leading the way since the beginning of the week, with the...
Crude oil prices continued to decline in mid-European trading today, Wednesday, August 13, in decline for nine of the last ten sessions, supported by increased optimism surrounding the meeting between the US and Russian presidents on Friday to end the Russian-American war, as well as the Energy Information Administration's report, which raised its supply forecasts amid anticipation of today's official...
Asian markets closed with near-unitary gains at the end of trading on Wednesday, August 13, following Wall Street's lead, supported by US inflation figures, which raised market expectations of a Federal Reserve interest rate cut. Japan's Nikkei index hit a record high. In economic data, figures released from Japan this morning showed that annual inflation (PPI) in Japan slowed for...
Data released just moments ago by the US Bureau of Labor Statistics showed that the Consumer Price Index (CPI), a measure of inflation, rose 0.2% in July after rising by approximately 0.3% in June, matching expectations. The core CPI, which excludes food and energy prices, rose 0.3% compared to 0.2% in June, matching expectations. On the other hand, the annual...
After three consecutive months of increases, the ZEW Business Sentiment Index in Germany fell below expectations in August, dropping 18 points to 34.7, down from 52.7 in July. Expectations were for growth of 39.5 to 34.8. The August decline in the index coincided with a deterioration in the assessment of the current economic situation in Germany, reaching 68.6, down 9.1...
The Reserve Bank of Australia's Board of Directors decided at its meeting this morning, Tuesday, August 12, to cut interest rates by 25 basis points, as expected, to 3.60%, bringing the total cut this year to 75 basis points, bringing interest rates to their lowest level since April 2023. The bank's interest rate statement stated that core inflation has declined...
Gold is trading down more than 1% at the start of the European session today, Monday, August 11, the opening session of the week, influenced by increased risk appetite in the markets and optimism regarding the Russian-Ukrainian war after media reports that President Donald Trump will meet with President Putin next week to negotiate an end to the war. Amid...