EUR/USD is about 0.70% up, trading at 1.0427 at the time of writing. Earlier on Friday, the EUR/USD pair has rebounded above 1.0400 in the North American session after posting a three-week low near 1.0340 in Asian trading hours. The major currency pair’s growth in the US Personal Consumption Expenditures …

The recent report from the US Energy Information Administration (EIA) revealed a smaller-than-expected drawdown in U.S. commercial crude oil inventories, casting a shadow on expectations of a more significant decline. While stocks did decrease by 900,000 barrels, this figure fell short of the anticipated 1.7 million barrels, a discrepancy that …

The US stock market experienced a significant rally on Friday, fueled by a cooler-than-expected inflation report. This positive news provided a much-needed respite for investors grappling with the looming threat of a government shutdown and recent uncertainty surrounding the Federal Reserve’s monetary policy.The Commerce Department’s report revealed that the Personal …

The cryptocurrency market has experienced a significant downturn, with Bitcoin plunging below $100,000, trading at the time of writing at only $97,173, down some -0.23 on the day, and other major tokens suffering even steeper losses. This sharp correction coincides with a shift in the Federal Reserve’s monetary policy stance, …

2024 has been a year of unprecedented growth for Wall Street, fueled by a confluence of factors, most notably the artificial intelligence (AI) revolution. AI stocks, led by giants like Nvidia, have soared, capturing investor imagination with the promise of transformative technological advancements. However, the current euphoria surrounding AI may …

US House Speaker Mike Johnson will attempt to pass what is known as a “temporary plan” later on Friday, involving a funding bill for the federal government at current debt levels. This plan includes certain provisions aimed at garnering public support and avoiding the US from suspending its debt ceiling …

The latest inflation data provides a glimmer of hope in the ongoing battle against rising prices. The Personal Consumption Expenditures (PCE) price index, the Federal Reserve’s preferred inflation gauge, showed a modest increase of 0.1% in November, translating to an annual rate of 2.4%. This reading, while still above the …

President-elect Donald Trump has announced a new plan to fund the government and lift the debt ceiling, a day before a government shutdown. He praised Speaker Mike Johnson and House Republicans for coming to a “very good Deal,” urging Congress to swiftly pass it in votes as soon as Thursday …

Central Banks Hold Steady, US Core PCE in Focus The Bank of England and the Bank of Japan both held interest rates steady at their respective policy meetings. While the BoE’s decision had a limited impact on the Pound, the BoJ’s rate hold weighed heavily on the Yen.With a relatively …

The GBP/USD currency pair experienced a sharp decline, falling over 60 pips, as robust US economic data and a surge in Treasury yields bolstered the US Dollar. The pair flirted with the crucial 1.2500 support level.US Economic Strength Fuels Dollar DemandKey US economic indicators pointed to a strong economy. Initial …