The U. S. supports calls for OPEC+ to do more to manage the economic recovery worldwide, a White House official said on Monday, as crude prices hit multi-year peaks. The official noted that Biden’s administration is closely monitoring the cost of oil and gasoline and using every tool to address …

U.S. stock indexes rose on Monday as growth and financial stocks gained, shrugging off inflation concerns in the run up to third-quarter earnings reports from later this week.The S&P 500 financial sector index rose 0.7%, while banks added 0.6% ahead of earnings reports from JPMorgan Chase & Co and Bank …

Agustín Carstens, general manager for the Bank of International Settlements (BIS) warned of Big Tech’s increasing reach into financial servicesCarstens said that Big Tech needs monitoring as it broadens its scope of services into credit and beyond. He added that Facebook’s Diem, in particular, needs scrutiny.Carstens delivered his remarks as …

The Australian dollar has rallied about 0.9% so far today and is on track to close its best daily performance over the last months. The pair accelerated its uptrend, after breaking above the 0.7330 resistance area, to reach 0.7370 for the first time since mid-September.Australian dollar’s appreciation has been underpinned …

A one-off shift in workers’ pay in response to recent price spikes wouldn’t be a sign of sustainably higher inflation, European Central Bank Chief Economist Philip Lane said.“Differentiating between transitory and persistent shifts in the growth rate of wages” will play an important role in assessing the progress of underlying …

The NFP report, Friday, crowned all market related news given its impact on the U. S. Fed’s tapering and consequently its impact on the U. S. economy and currency.The Dow Jones Industrial Average hovered around the flatline but finished a volatile week with its strongest gains since June. Volatility returned …

The Bank of England has warned that rising inflation could trigger a selloff in global financial markets, with a damaging impact on the UK economy.BoE expects inflation will rise above 4% this winter, and will remain elevated until at least the summer of 2022 before gradually falling back towards its …

Stocks closed in the red on Friday as investors digested a key report on the labor market’s recovery, which showed a much weaker than expected growth of hiring in September. The S&P 500 fluctuated between gains and losses throughout the day, trading choppily like recurrent waves after three successive sessions …

EUR/USD has risen above Thursday’s daily highs is trading at 1.1572, gaining 0.17% during the New York session. Earlier in the American session, it reached a daily high at 1.1586, but as most G8 currencies, retreated the move.Despite an awful US employment report, the market seems aware that nothing will …

U. S. President Biden on Friday brushed off a second month of disappointing jobs growth figures, claiming “monthly totals bounce around” before walking off without taking reporters’ questions.Biden spoke about 90 minutes later than scheduled and emphasized that the unemployment rate dropped to 4.8 percent in September; the lowest since …