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The Euro has capitalized on the US Dollar’s decline, which fell below the 109.00 mark on the US Dollar Index, a measure of the greenback’s performance against a basket of six major currencies. This occurred despite the outcome of the European Central Bank’s December meeting.The Euro/Dollar pair rose to 1.0301, …

Could Los Angeles fires impact the US economy or push inflation higher? The recent devastating wildfires in Los Angeles have ignited concerns beyond the immediate human and environmental toll. Economists warn that these infernos will not only scorch the land but also fan the flames of inflation, further complicating the …

Wall Street Banks: A Tide of Profits Lifted All BoatsThe fourth quarter of 2024 witnessed a surge in profitability for major Wall Street banks, driven by a confluence of favorable factors. Morgan Stanley, the bellwether of the industry, led the charge with a more than doubling of profits, fueled by …

U.S. retail sales demonstrated continued strength in December, driven by robust consumer demand for motor vehicles and a broad range of other goods. This positive data, coupled with a strong labor market, reinforces the Federal Reserve’s cautious approach to interest rate cuts.The Commerce Department reported a 0.4% increase in retail …

The U.S. dollar held its ground on Thursday, even as U.S. bond yields fell sharply following better-than-expected inflation data. Market participants have now turned their focus to next week’s inauguration of President-elect Donald Trump and the anticipated inflationary effects of his economic policies. The U.S. Dollar Index, which measures the …

Global markets rallied on Thursday, continuing the momentum sparked by Wednesday’s encouraging U.S. inflation data and strong corporate earnings across multiple sectors. Key Highlights Earnings Boost Confidence Richemont (SIX:CFR): Shares of the luxury goods maker soared 17%, marking its best single-day performance in 17 years, following results that exceeded expectations. …

European stock markets extended their gains on Thursday, buoyed by easing inflation in the U.S., which reinforced hopes for potential Federal Reserve rate cuts. However, weaker-than-expected UK economic growth and rising German consumer prices slightly tempered enthusiasm. Market Overview Germany’s DAX: Up 0.3% France’s CAC 40: Gained 0.7% UK’s FTSE …

Oil prices extended their gains for a second consecutive session on Thursday, bolstered by concerns over potential supply disruptions due to expanded U.S. sanctions on Russia, a sharper-than-expected drop in U.S. crude inventories, and signs of improving global demand. Price Movements Brent Crude: Increased by 23 cents (0.3%) to $82.26 …

Britain’s economic output edged up by 0.1% in November compared to October, marking the first increase in three months. However, the rise was below the 0.2% expansion predicted by economists in a Reuters poll, according to data released Thursday by the Office for National Statistics. The modest growth followed two …

Bitcoin extended its bullish momentum for the third consecutive session on Thursday, trading near the pivotal $100,000 mark. This rally is fueled by broad market optimism following softer-than-expected U.S. inflation data, which improved investor sentiment across asset classes. As of 01:12 ET (06:12 GMT), Bitcoin rose 2.5% to $99,478.4, after …