US crude stockpiles went up by 1.2 million barrels last week. US oil exports surged to a record high of 5.6 million barrels a day last week. China’s factory activity rose in February at its strongest rate in over a decade. The price of crude oil rose slightly Wednesday as evidence of sufficient supply, such Read More…
US stocks fell in February due to economic data and statements made by Fed officials. The Conference Board’s consumer confidence index went down to 102.9 this month. European equities ended higher for the second consecutive month. As investors continue to speculate about whether interest rates will stay high for an extended period, US equities concluded Read More…
The Fed may increase interest rates by a half-point in March. Figures revealed that orders of core durable goods in the US rebounded in January. British Prime Minister Rishi Sunak reached a new trade agreement with the EU. Despite continued fears over impending interest rate hikes to contain stubbornly high inflation, US equities managed to Read More…
The dollar maintained a seven-week high after new data showed continued strong inflation. The US PCE price index increased 5.4% in the 12 months that ended in January. BOJ’s Ueda emphasized that the central bank must maintain low-interest rates. The US dollar on Friday maintained a seven-week high as new data showing continued strong inflation Read More…
Gold prices fell to their lowest level in two months. US unemployment benefit claims surprisingly decreased last week. Markets are preparing for the release of the PCE price index for January. Gold price fell on Thursday after the US released upbeat economic data. The prices fell to their lowest level in around two months after Read More…
Investors are concerned that rate hikes will pressure economic growth and fuel demand. A stronger dollar raises the cost of oil priced in dollars for holders of other currencies. The amount of US oil stockpiles increased by 9.9 million barrels last week. On Wednesday, oil prices dropped by $2 a barrel to their lowest level Read More…
The Dow Jones Industrial declined, wiping out its gains for 2023. Business activity in the United States crossed back to expansion in February. Business activity in the economies of France and Germany is once again expanding. Major US equities plummeted on Tuesday as investors believed that a gain in the US economic activity in February Read More…
US markets were closed for the Presidents’ Day holiday, reducing volatility. The STOXX 600 in Europe increased by 0.1%. Investors are awaiting the core personal consumption expenditures index, the Fed’s favored inflation gauge. Global equities prices increased slightly on Monday during the London trading session as a US holiday dampened volatility ahead of the most Read More…
The US central bank will need to hike interest rates further to control inflation. Policymakers emphasized that there is still potential for ECB interest rates to rise. Investors are expecting the testimony of the newly appointed governor of the Bank of Japan. Currency futures ended Friday higher after hitting new lows on dollar strength. The Read More…
The greenback extended its gains, pushing precious metals lower. India’s January gold imports fell 76% from a year earlier. Peruvian miner Buenaventura resumed activities at its gold and silver Julcani mine. The greenback continued its bullish momentum on Thursday, resulting in bearish price action for commodities. Precious metals hit new lows after Cleveland Fed President Read More…
