Market News

Oil markets lost ground for the eighth consecutive day yesterday.

US Stock Market Rebounds from Dip; US Dollar Sold; Bitcoin at 3-Month High

The Unemployment Rate stood at 4.6 percent in July after being at 4.9 percent in the previous month and below the analysts' expectations.

According to the United Kingdom's Office for National Statistics the Consumer Price Index stood at 2 percent (Year-on-Year), lesser than expected.

Despite growing more than expected, Japan's economy has underperformed that of other advanced countries.

Apparently, inflation has been decelerating in certain sectors that previously contributed significantly to the rise of prices.

Oil futures gained ground yesterday after the markets learned that fuel demand is rising in the United States despite the COVID-19 pandemic.

Many link the current situation in the market to the fact that there are now more crypto advocates in the United States government who are willing to oppose the crypto tax provision in Biden's infrastructure bill.

This weakness is being linked to the spread of the Delta variant.

The Bank of England had to face the prospect of a strong overshoot of its inflation target over the near term in its monthly monetary policy statement and base rate decision today.

Oil futures fell yesterday, reflecting concerns regarding the spread of the Delta variant of COVID-19.

US FOMC Makes Another Tapering Signal; ADP NFP Very Low; NZD Firmly Bid

S&P 500 Index Closes at All-Time High; USD/JPY Down at 50-Day Low; NZD/USD Hits 1-Month High

The Reserve Bank of Australia recently decided to leave cash rates unchanged at 0.1%, in line with expectations.

USD/JPY Down as Fed Talks of September Taper; AUD/USD Boosted by RBA for Same Reason