On Wednesday, oil prices plunged over 1.5% due to a larger-than-expected increase in US crude inventories. Concerns about demand in Asia also contributed to the decline. US crude stocks surged by 3.6 million barrels last week, reaching 421.9 million, significantly exceeding analysts’ expectations of a 1.8 million-barrel rise. Additionally, the weekly government data indicated that Read More…
Equities surged on Tuesday as US inflation data for October came in lower than expected. The data sparked investor confidence at the end of an era of interest rate hikes and the possibility of imminent reductions in borrowing costs. US inflation (Source: Bureau of Labor Statistics) Data revealed that US consumer prices remained steady in Read More…
On Monday, US equities closed slightly lower as investors anxiously awaited a crucial inflation reading that could influence the duration of high interest rates by the US Federal Reserve. Following a strong rally on Friday, attention shifted on Monday to the Consumer Price Index (CPI) data scheduled for release on Tuesday morning. US CPI (Source: Read More…
Currency futures closed Friday mixed as investors assessed remarks from Fed Chair Jerome Powell. The euro fell, while the yen weakened against the dollar. Powell indicated the possibility of another rate hike if inflation persists above the target. The yen held near a one-year low against the dollar, and investors remained cautious about a potential Read More…
Gold prices increased on Thursday despite Powell’s comments that interest rates may not be high enough to combat inflation. This increase might be because investors had already priced in Fed hawkishness earlier in the week. Some Fed officials are emphasizing the possibility of further rate hikes if inflation does not decline toward the 2% annual Read More…
On Wednesday, oil prices dropped over 2%, reaching their lowest point in over three months due to concerns about decreasing demand in the US and China. According to American Petroleum Institute figures, US crude oil stocks surged by almost 12 million barrels last week. If confirmed, this would be the largest build since February. The Read More…
