The President of the United States, Joe Biden, on Thursday signed the $1.9 trillion relief bill into law, officially ratifying what he originally proposed as the “American Rescue Plan” to help the U.S. economy recover from the impact of the Coronavirus pandemic. After Congress passed the bill, following a long …
Read More »Wall Street Scores New Record Highs
The benchmark indices of the New York Stock Exchange (NYSE) closed higher on Thursday, with the Dow and S&P ending the session at all-time highs, as Wall Street investors reacted positively to inflation data that eased worries about a possible reflation due to the increase in stimulus spending. Positive jobs …
Read More »Oil Prices Rise on Improved Demand Outlook
Oil prices rose for the second consecutive session, registering large gains on the back of a weaker U.S. Dollar (USD) and expectations of global demand recovery during the second half of the year. In addition, large draws in U.S. fuel inventories have eased fears of an oversupply, especially with the …
Read More »Gold Maintains Gains for Third Day in Row
Gold prices continued to rise on Thursday for the third consecutive session, supported by the decline of the U.S. Dollar (USD) and Treasury bond yields. The yellow metal registered limited gains today, as recent inflation data eased reflation concerns and improved risk sentiment among investors. Gold futures for April delivery …
Read More »OPEC Expects Demand Recovery in H2 of 2021
The Organization of the Petroleum Exporting Countries (OPEC) expects the recovery of the global demand for crude oil to be focused on the second half (H2) of 2021. OPEC’s monthly report, released on Thursday, expects global demand will rise by 5.89 million barrels per day (b/d) in 2021, raising its …
Read More »European Stocks Hit Year-High Following ECB Statement
European stocks rose on Thursday to their best level in about a year, supported by the dovish tone of the European Central Bank (ECB), which earlier today decided to maintain interest rates and signaled plans to expand its asset purchases in the coming quarter. Reduced fears about a reflation gave …
Read More »DXY Extends Losses as Market Reacts to Data and Stimulus Bill
The U.S. Dollar (USD) declined on Thursday as the recent inflation data helped ease reflation fears, pushed down Treasury bond yields, and improved risk sentiment, which reflected positively on other currencies. Market are reacting to the passing of the $1.9 trillion relief bill by Congress, which is expected to soon …
Read More »Inflation in Brazil Hits Highest Level in Four Years
The inflation rate in Brazil exceeded 5% last month for the very first time in more than four years, as shown by official data on Thursday. Annual consumer inflation rose by 5.20% in February, its highest level since January 2017. The inflation rate exceeded market expectations of registering about 5.06%. …
Read More »U.S. Natural Gas Inventories Down 52 bcf
Natural gas inventories in the United States decreased by 52 billion cubic feet (bcf) last week, according to the weekly report released on Thursday by the U.S. Energy Information Administration (EIA). Working natural gas in storage reached 1,793 bcf as of Friday, March 5, the report showed. Gas stockpiles were …
Read More »U.S. Job Openings Exceed Expectations in January: JOLTS
The number of job openings in the United States rose by the end of January to 6.917 million, data showed on Thursday. The reading shown by the U.S. Bureau of Labor Statistics Job Openings and Labor Turnover Summary (JOLTS) came better than expectations of 6.6 million job openings. The number …
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