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OPEC recommends six-month extension of Oil output cuts

According to Thomson Reuters, a technical committee of OPEC and non-OPEC producers recommended that producers extend a global deal to cut Oil supplies for another six months from June. The Organization of the Petroleum Exporting Countries (OPEC), Russia and other producers

Euro jumps, Shares firm on French election relief

The Euro briefly vaulted to five-month peaks on Monday after the market’s favored candidate won through the first round of the French election, reducing the risk of a Brexit-like shock and sparking a mass unwinding of safe-haven trades. E-mini Futures for

French vote in focus

Sine earlier this week, the Dollar is holding above lows against its peers. The US currency is trading with a broadly defensive tone as economic data lowered outlook for interest rate hikes and the Beige Book showed the US economy expanded

Dollar weakness eases on Mnuchin comments

Yesterday, the Dollar fell to a five-month low against the Yen after soft US data hurt investor’s sentiment, already frayed by worries over rising tensions in North Korea, and fueling demand for the safe-haven Japanese currency. Data last Friday showed that

Dollar falls on Trump currency comments

Last week, the Dollar slumped broadly against its peers, after Donald Trump helped accelerate its recent decline by saying that the Dollar “is getting too strong” and that he would prefer the Federal Reserve to keep interest rates low. Trump’s comments

United Airlines faces rising pressure over hospitalized customer

On Tuesday, United Airlines and its CEO faced mounting pressures from a worldwide backlash over its treatment of a passenger who was dragged from his seat on a plane last Sunday to make room for four employees on the overbooked flight.

Safe haven assets jump on geopolitical uncertainties

Last Friday, the US Dollar rose against its major peers with gains limited as investors had already been on edge as Trump met Chinese leader Xi Jinping for talks in a two-day summit over flashpoints about North Korea and China’s huge

Safe-haven assets jump as U.S. missiles strike Syria

Today, the safe-haven Bonds and the Yen jumped in Asia as Stocks slipped after the United States launched cruise missiles against an air base in Syria, raising the risk of confrontation with Syrian backers Russia and Iran. The U.S. Dollar dropped

Apple aims for more control, less cost as it accelerates in chip design

Apple Inc.’s decision to stop licensing graphics chips from Imagination Technologies Group Plc. is the clearest example yet of the iPhone maker’s determination to take greater control of the core technologies in its products – both to guard its hefty margins

Tesla delivers a record of 25,000 vehicles in Q1

On Sunday, Tesla Inc. the US luxury electric car maker, said first-quarter vehicle deliveries jumped 69% from a year ago to a quarterly record of 25,000 vehicles, bouncing back from delays in the previous quarter. The company said of the total

Euro dives as Markets over-interpreted ECB message

On Thursday, the Euro dipped to $1.0741 in early sessions having drifted down from a 4-1/2-month high of $1.0906, as the European Central Bank (ECB) showed no sign of stepping away from monetary easing anytime soon. A report by Thomson Reuters

Pound steady on eve of Brexit trigger

On Tuesday, Currency traders showed little sign of heightened nerves ahead of Britain’s formal launch of negotiations on leaving the European Union. British Prime Minister Theresa May will trigger Article 50 of the EU’s Lisbon Treaty with a formal notification of Britain’s intent

U.S. equity Futures at six-week low after Trump healthcare setback

On Sunday, US Equity Index Futures fell to a six-week low in a sign Wall Street would start the week defensively after Republicans pulled legislation to overhaul the US healthcare system in a stunning setback for President Donald Trump. Markets were

Russia, Saudis move at a different pace as Oil cuts scrutinized

Russia and Saudi Arabia head to this weekend’s OPEC committee meeting as the tortoise and rabbit of a global deal to cut Oil supply, with Moscow sticking to a slow and steady pace despite Riyadh’s sweet-talking. OPEC’s de-facto leader Saudi Arabia

Dollar slumps after Evans reinforces rate outlook

On Tuesday, in early Asian sessions, the Dollar was on the defensive, after Chicago Federal Reserve President Charles Evans reinforced the perception that the US Central Bank won’t accelerate the pace of its interest rate hikes. Evans strengthened the Central Bank’s

Merkel, Abe Call for EU-Japan deal to stem trade barriers

The Chancellor Angela Merkel and the Japanese Prime Minister Shinzo Abe called for a concerted effort to defend free trade, saying global markets can be both open and fair. After the US President Donald Trump and Merkel held inconclusive talks at

British Pound surges against the Dollar; Pressured Dollar after FOMC disappointment

On Wednesday, the Sterling jumped 1.1% against the US Dollar, pulling away from a two-month low of $1.2110 after surging 1.2% overnight as Dutch center-right prime Minister Mark Rutte scored a resounding victory over anti-Islam and anti-EU Geert Wilders in an

Japan’s Nikkei slips on firmer Yen before Fed

During the night on Wednesday, Japan’s Nikkei Share average slipped dragged down by a firmer Yen as investors were waiting for the US Federal Reserve’s monetary policy outlook later in the day. Toshiba Corp. was once again under the spotlights, as

Last week recap: Dollar rises against the Yen; Gold falls below the $1,200

Last Friday, the Dollar firmed to six-week highs against the Yen, on track for weekly gains against most rivals as investors were waiting for US job data that are likely to reinforce expectations of a Federal Reserve interest rate hike next

Oil slides the most in more than a year while the Dollar strengthens on strong US ADP jobs data

Since Wednesday, the Dollar rallied against its peers after a surge in US private-sector jobs in February firmed expectations that the Federal Reserve will raise rates next week, pushing the benchmark US Treasury Yields to their highest since December 2016. The

Pharma, bank stocks pull Wall Street lower

Yesterday, US Stock prices closed lower as weakness in drug and financial Shares sent the S&P 500 and Dow Jones Industrial Average to their first consecutive sessions of declines in more than a month. Pharmaceutical Stocks came under pressure after US

Futures fall amid North Korea missiles; Trump wiretap talk

On Sunday, US Stock Index Futures fell amid news of North Korea’s firing of four ballistic missiles and President Donald Trump’s accusation that his predecessor, Barack Obama spied the premises of the Trump Tower through wires. US Stocks have climbed to

Sterling falls as the general mood turns gloomy

On Wednesday, Sterling edged lower to a six-week low of $1.2261 after a series of disappointing economic releases exacerbated the impact of the Dollar’s rally and suggested that the UK economy was beginning to suffer from the uncertainty around Britain’s planned

Stocks struggle as Trump offers few policy details, dollar firms on rate talk

Today, Stock Futures pared gains on disappointment that President Donald Trump did not offer further details on his plans for infrastructure spending and tax reforms, but the Dollar firmed on growing expectations of a rate hike this month. Trump pledged to

Samsung launches new tablets in flagship phone hiatus

On Sunday, Samsung Electronics launched two new tablets since being forced to remove the flagship Galaxy Note 7 smartphone after some of the devices caught fire. The Galaxy Tab S3 and the Galaxy Book were presented at the Mobile World Congress

Dollar steadies after slipping in reaction of Fed minutes

On Thursday, the Dollar recovered from overnight lows as the market digested the minutes of the Fed Reserve last policy meeting which kept the prospect of a March rate hike in play. The Dollar initially slipped on Wednesday after the Fed’s

Markets Overview: Dollar rises; Euro stays soft and Aussie slips

On Tuesday, the US Dollar strengthened against its peers taking its cue from higher US Treasury Yields, as investors are waiting for the minutes from the Federal Reserve’s latest meeting on Wednesday for signals to the pace of interest rate hikes.

Last week Recap: Pull-Back in Treasury Yields drags down Dollar

On Thursday, the Dollar weakened, posting its steepest one-day drop in over two weeks, due to lower US Bond Yields and doubts over the timing of the Fed’s next interest rate increase. Donald Trump’s first solo news conference on Thursday, where

Dollar pulls back after better US data and Sterling drops after wage growth slows

The Dollar retreated against its major peers on Thursday after rising to one-month highs, following the release of upbeat US economic data that revived expectations of an early rate hike by the Federal Reserve. Data on Wednesday showed US consumer prices

Yellen revives hopes for March rates hikes

Federal Reserve Chair Janet Yellen gave her semi-annual monetary policy report to Congress on Tuesday before the Senate Banking Committee highlighting the following: 1- Hawkish sentiments continues 2- Markets price in June rate rise and elevate expectation for March 3- Agreement

Oil prices dip as markets remain full despite OPEC-led cuts

On Monday, Oil prices slipped on signs that global fuel markets remained full despite OPEC-led crude production cuts that have been more successful than initially expected. Brent Crude Futures were trading at $56.55/b., down 15 cents from the previous close. West

Twitter advertising revenue falls; shares drop more than 10%

On Thursday, Twitter Inc. (TWTR.N) posted the slowest revenue growth since four years ago, sending its Shares down more than 10% on fears that Snapchat and Facebook Inc. (FB.O) were winning the war for advertising. Since last year, advertising revenues fell

Greece, the endless crisis in Europe

We might be getting closer to another critical moment between Greece and its international creditors, as on one side, Europeans are demanding the implementation of further austerity measures in exchange of new funds and on the other side, the Greek government

Sterling drops as BoE remains calm on UK inflation outlook

The British Pound fell against its major peers on Thursday after Bank of England (BoE) kept monetary policy unchanged while raising its forecast for British economic growth this year. Carney warned of the uncertainty over the Brexit, cautioning that “there will

Futures fall as Fed gives no clarity on next rate hike

On Thursday, US Stock Index Futures fell after the Federal Reserve gave minimum insight into whether it would raise interest rates at its next meeting, even as the central bank painted an upbeat picture of the economy. According to Reuters, the

Airline Stocks lose $4.9 billion as investors weigh travel ban

The Standard & Poor’s 500 airline index dropped 3.8% combined on Monday and Tuesday, five times the 0.7% drop in the S&P 500 as President Donald Trump’s travel ban wiped in two days $4.9 billion in market value for the country’s

Global Shares and Dollar retreat on Trump travel ban.

On Friday, President Donald Trump put a 120-day hold on allowing refugees into the United States, an indefinite ban on Syrian refugees and a 90-day block on Iran, Iraq, Libya, Somalia, Sudan, Syria and Yemen citizens. This led to Asian Share

Finance tax “within reach”, EU’s Moscovici says

On Thursday, European Union’s economics commissioner said that an agreement on a common financial transactions tax (FTT) was “within reach” among the 10 Euro zone countries willing to adopt it. The tax – 0.1% for stocks and 0.01% for derivatives —

Keystone XL boost sends Loonie soaring against peers

The Canadian Dollar surged after US President Donald Trump decided to advance the construction of the Keystone XL pipeline, which would help America shipping more crude Oil from Canada and maintain growth. The currency rallied as much as 1% to C$1.3106

Dollar slips after Trump’s protectionist speech

On Monday, after US President Donald Trump hit a protectionist tone in his inauguration speech, the Dollar slipped largely counterbalancing optimism that he will follow through on his promises of tax cuts and other stimulus. US Stock Futures dipped as well

Dollar Drops on Yellen Comments

The Dollar got weaker against major peers after Janet Yellen’s speech saying that it was prudent for the Federal Reserve to gradually adjust policy over time. Meanwhile, Gold climbed for a second day. Gold headed for a fourth straight weekly advance

Deutsche Bank signs $7.2 billion deal with US over risky mortgages

Deutsche Bank AG signed a final settlement with the US Justice Department over its sales of toxic mortgages in the run-up to the 2008 crisis, resolving one of its biggest litigation risks. The Justice Department said on Tuesday that the bank

Sterling slips on Brexit anxiety

On Monday, Sterling slipped to three-month lows in Asia markets having finished around $1.2175 in New York on Friday. It was last down 1.1% at $1.2044; while investors were again alarmed by concerns over Brexit. Regional share markets were uncertain with

Euro zone economy registering surprisingly strong growth

On Thursday, data showed that Industries across the Euro zone turned up production in November and Germany ended the year with its strongest growth in 5 years, which indicates an economic shot that may be arriving earlier than expected this year.

Gold hits highest in over one month

On Tuesday, Gold rose to its highest in over one month maintained by a weaker US Dollar and fears that Britain will not have a clean break with the EU strengthened safe haven buying. Gold advanced by 0.3% to $1,184.00 an

Australia forecasts dramatic drop in iron ore prices through 2018

Australia is forecasting an important drop in the price of iron ore — its most valuable export commodity — over the next two upcoming years to below actual market prices. According to the Department of Industry, Innovation and Science forecasts, iron

Sterling capitalizes on Dollar retreat after data lift

On Thursday, the Sterling rose against the Dollar with more upbeat data underlining UK economy’s post-Brexit resilience which helped the Pound make the most of a retreating greenback. The turnaround was completed as unspectacular weekly US jobs figures weakened the Dollar

European Stocks progressed on the first trading day of 2017

On Monday, the Euro Stoxx 50 Index grew 0.6% with the UK and Swiss markets closed for holidays. In Germany, the region’s biggest economy, the DAX Index increased 1% in its best day since mid-December. Italy’s FTSE MIB also jumped 1.7%

Shares in Toshiba fell more than 19% in morning trade on Thursday

According to Reuters, Shares in Toshiba fell more than 19% in morning trade on Thursday, clocking a third day of heavy losses after the Japanese tech-to-nuclear conglomerate said earlier this week it faced a potential multi-billion dollar write-down. Ratings agencies were

Japan consumer prices slump in November, While Crude Extends Rally

Japan’s Topix index swung between gains and losses after a three-day decline, as data showed core consumer prices, a leading indicator of nationwide price trends, dropped for a 9th straight month in November, suggesting that the economy still lacks enough momentum

Oil prices fall on US inventory build

Oil prices edged lower on Wednesday as the Energy Information Administration released a report explaining that US Stocks has risen unexpectedly by 2.3 million barrels last week. Furthermore, Libya’s National Oil Corporation (NOC) who’s already doubled output production to 600,000 barrels/day

Japanese Yen Eases As BoJ Keeps Policy Steady

Japanese Yen fell down against the US dollar in Asian sessions on Tuesday after the Bank of Japan (BoJ) decided to keep monetary policy steady, while US stocks were mixed after Federal Reserve Chair Janet Yellen’s positive comments. BoJ kept its

Stocks react as China seizes an underwater US drone in international waters in the South China Sea

Last Friday got lively as China seized unmanned US vessel sending oil higher, bonds yields and the Dollar lower and rattling equities. Reuters reported in late morning that a Chinese Navy warship seized an underwater drone deployed by an American oceanographic

US Dollar gains after Fed raises rates, and signals faster rate hike pace

The US Dollar strengthened by 1% and hit a 14-year high against major Currencies, mainly Euro, after the Federal Reserve decided on Wednesday December 14, to raise its benchmark Interest Rate, and upped its expectation for the number of rate hikes

Vienna Meeting : OPEC’s Historic Deal Discussion

OPEC announced a production cut for the first time since eight years. This announcement Pushed prices up by 8 percent in the international markets. Brent price rose by 8.4 percent to $ 51.3 a barrel, while US crude rose by 8.2

Yellen boosted trader’s confidence with expected rate hike in December.

US Federal President Janet Yellen confirmed that raising interest rates would probably be appropriate “soon” as long as the economy make progress. She added: “In the last Monetary policy meeting in November, monetary policy-makers decided that the conditions to increase interest

Apple’s Competitors pushed its Profits down

Apple announced its earnings and sales decline for the third consecutive quarter. The Giant Company in the field of technology has sold 45.51 million units of the iPhone devices in the three months through September, which was higher than the average

Weekly Market Update

The Monetary Policy Committee Meeting of the Federal Reserve showed that many of the bank’s policy makers believe that raising interest rates would be justified “relatively soon” if the US economy continues to improve. US stocks varied at the end of

OPEC: Waiting for November meeting

Petroleum Exporting Countries reached an agreement in Algeria for reducing oil production to a level between 32.5 and 33 million barrels a day. Qatari Energy Minister Mohammed Bin Saleh & Nigerian Minister of State for Petroleum Emmanuel Ebi Katcheko confirmed to

Fed cut interest rate expectations

European stocks fell in the early trading on Friday from their highest level in two weeks after the Federal Reserve’s decision (US central bank) to postpone raising interest rates. STOXX index 600 fell 0.4% after reaching its highest level on the

Putin: Freezing oil production is the right decision.

Oil prices fell by more than three percent on Thursday, heading toward its biggest weekly loss since January, with investors ignoring the conversations that might freeze OPEC production. Investors focused on government data issued on Wednesday showing an increase of 2.3

Weekly Market Updates

The Federal Reserve Board Meeting of the monetary policy committee for the month of July showed that some policy-makers who have the right to vote believe that there is a need to raise interest rates in the United States soon. The

Gold hikes as England cut rates

Gold started steady in Asian trading on Friday as investors await the job data in the United States. The price of gold rose 0.12 percent to $ 1362.45 per ounce. US Gold contracts increased 0.15 percent to $ 1369.40 per ounce.

Draghi encouraged investors & kept rates unchanged

European Central Bank President Mario Draghi considered that it is too early to assess the repercussions of the British vote in favor of their country’s exit from the European Union on the fragile economic recovery in the euro zone. Officials kept

Drop in US Oil Inventories

Oil prices rose, supported by a new drop in US crude stocks and a weak dollar, despite the oversupply of refined products and concerns about economic growth. Crude oil prices were influenced by the American Petroleum Institute, which showed a decline