The Senate majority leader, Chuck Schumer, has vowed to stay in session until the debt ceiling bill that was passed by the House a day earlier is sent to President Biden’s desk. This comes one day after the House passed the debt ceiling bill in a resounding, bipartisan vote of …

US stocks advanced on Thursday after the US House passed a debt ceiling bill in a crucial step to avoid a default. The Dow Jones Industrial Average traded up 153.3 points, or 0.47%, to end at 33,061.57. The S&P 500 gained 0.99% to finish at 4,221.02, while the Nasdaq Composite …

Gold is trading at $1976.69 at the time of writing and bulls are likely correct, but they still have more ambitious objectives. The NFP numbers from this Friday are now everything. Gold’s price rose on Thursday, rising for the day from a low of $1,953.44 to a high of $1,983.15 …

Oil price marginally recovered after the House of Representatives voted through the debt-ceiling extension bill on Wednesday evening. Gains were capped by higher-than-expected inventory levels. Oil prices have been volatile in recent weeks due to a number of factors. The House of Representatives voted through the debt-ceiling extension bill on …

Federal Reserve Bank of St. Louis President James Bullard recently published an analysis titled ‘Is Monetary Policy Sufficiently Restrictive?’ in which he compares the policy rate under the Taylor rule to the Fed’s policy rate. According to Bullard, “monetary policy is now in better shape after the rate hikes.” Bullard’s …

The EUR/USD reaches 1.0746, surging over 0.50% from its opening price, following a weekly low of 1.0635. Weakening US manufacturing activity, as indicated by the ISM Manufacturing PMI falling to 46.9 in May, fuels speculation of a Fed pause on tightening.Mixed employment data shows private hiring surging but falling short …

Experts from a number of key banks do expect labour market to lose momentum only slowly. On Friday, the US Bureau of Labour Statistics will release the May jobs report and as markets get closer to the release time, here are the forecasts by the economists and researchers of 10 …

Market Drivers – US Session – 31/05/2023 The cautious sentiments across financial markets heavily weighed on Wall Street indexes that lost ground again on Wednesday. Equity prices finished off their lows. The rebound in stocks weighed on the US dollar, which was also affected by comments from Fed officials that …

Gold price stays above the $1960 mark, it is trading at $1962.09 at the time of writing, even preparing for over 1.3% monthly losses in May. Expectations of resolving the US debt ceiling issue spark a dip in US Treasury bond yields, offering a lift to the Gold Index. Dovish …

On Wednesday, the Euro lost ground against its key competitors. Spain and Germany both posted inflation rates that fell short of market expectations. The 10-year yield on German bonds decreases and reaches weekly lows. After inflation data from Germany and Spain came in below the market consensus on Wednesday, the …