Federal Reserve (Fed) Governor Michelle W. Bowman commented at a Fed Listens event on Thursday that inflation in the US has come down but is still too high. At the time of press, the US Dollar Index was down 0.02% on the day at 106.54.Key Quotes “What has been somewhat …
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Due to sour market sentiment and the Fed’s Beige report, which revealed no material changes in economic activity since the September report, the US Dollar gained ground on Wednesday. Although US housing starts from September disappointed, building permits performed better than anticipated. The US Dollar Index reached a high of …
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The energy sector led a strong third quarter for commodity indexes, with the UBS Constant Maturity Commodity Index showing strong relative performance compared to the Bloomberg Commodity Index. The industrial metals sector saw a slight increase of over 3%, and CMCITR’s larger exposure to this sector allowed for slightly improved …
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US President Joe Biden’s administration is easing sanctions on Venezuela’s oil and gas sector in response to a 2024 election deal reached between the Venezuelan government and the opposition. The US imposed sanctions on Venezuela in response to President Nicolas Maduro’s 2018 re-election, which the US and other Western governments …
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With the EUR/USD pair extending its losses for the day to backslide to 1.525, the euro has not been able to close out a range of 1.00-1.0600 as market sentiment has turned bearish. US Treasury yields are on the rise again, with the benchmark 10-year note hitting its highest level …
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Morgan Stanley’s Q3 profits fell 9% from a year ago due to a decline in investment banking and trading revenue, indicating that Wall Street is still struggling to recover from a prolonged slump. The bank’s stock fell by 8%, marking its largest single-day drop in over three years. Morgan Stanley’s …
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Federal Reserve Governor Christopher Waller was an advocate for interest rate hikes last year. According to Waller, ‘Too soon to tell’ if economy will cool or prices heat up. The Federal Reserve needs to “wait, watch and see” how the economy evolves before making any interest-rate moves, said Fed Governor …
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Gold prices touched their highest levels in nearly a month on Wednesday after the Gaza hospital explosion reinforced fears of escalating conflict in the Middle East and maintained the precious metal’s appeal as a safe investment. By 0700 GMT, the price of gold in spot transactions had risen 0.7 percent …
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Better-than-expected Chinese growth data published on Wednesday gave Asian currencies a boost, driving the yuan to a one-week high and pressuring the dollar. But the attack on a hospital in Gaza on Tuesday made the moves modest and kept investors awaiting the possibility of the conflict expanding. Official data showed …
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Oil prices rose on Wednesday as tensions rose in the Middle East after hundreds were killed in a hospital explosion in Gaza, raising concerns about disruptions to oil supplies from the region. By 0225 GMT, Brent crude futures increased $2.07, or 2.3 percent, to $91.97 per barrel. US West Texas …
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