Fed Governor Michelle Bowman cautioned that numerous rate hikes may be necessary to return inflation to healthy levels in two speeches she gave on Saturday and Monday.Bowman, a senior Fed official, is pushing back against growing hopes on Wall Street that the central bank could be nearly done raising interest …

Despite caution ahead of US CPI, the gold price rises as the US dollar corrects to US CPI. The imminent release of the Consumer Price Index (CPI) statistics for the United States on Thursday has encouraged the gold price to try to recover. The impact of a slowdown in business …

The Dow Jones Index reversed lower for a loss of 0.4% Friday on reports that a cyberattack hit hospital computer systems across several states. Top gainers in the Dow Jones included Amgen, which jumped on earnings. But Apple was down nearly 5%.The S&P 500 and Nasdaq Composite retreated for a …

The EUR/USD pair has risen above 1.1007, positioning the Euro for a strong finish. The US Nonfarm Payrolls report showed an 187K increase in labor force participation and an unemployment rate of 3.6%, higher than 3.5%. This resilience is a key factor holding inflation at or around 3%, making the …

WTI crude has surged to daily high above $83.00 ahead of the weekend for the first time since April. The Saudis’ expected reductions in oil output and the depreciation of the US dollar are mostly to blame for the black gold’s upward trend. Additionally, the daily chart shows that the …

Petrobras retreated -0.5% pre-market Friday after Q2 earnings fell by nearly half from a year earlier on lower oil prices and a sharp drop in international crack spreads for diesel.Q2 net income fell to 28.8B reais (~$5.9B) from 54.3B reais in the year-earlier quarter, and recurring net income, which strips …

The Australian dollar has reacted strongly against the US Dollar (USD) on Friday, following Nonfarm Payrolls (NFP) data showing the US added 187K new jobs in July, undershooting estimates of 200K. This data suggests a slowdown in the labor market, which could undermine high inflation and lead to lower interest …

The US dollar experienced renewed selling pressure after the July jobs report, which showed a 187,000 increase in nonfarm payrolls. The US Bureau of Labour Statistics reported that Nonfarm Payrolls in the US rose 187,000 in July, weaker than the market expectation of 200,000. The US Dollar Index recorded 101.807 …

In Q2, productivity growth rebounded sharply, outpacing predictions and increasing at a rate of 3.7%. The increase in output per hour worked over the past year has increased by 1.3%, the first positive yearly improvement since late 2021. Productivity is on the rise, and nominal pay growth is moderating, both …

The USD/CAD pair peaked at 1.3377’s daily high, then consolidated at 1.3355. Further oil production cuts by Saudi prospects lifted crude prices, favouring the Canadian dollar.On Thursday’s session, the USD/CAD reversed as the US counterpart lost traction following weak mid-tier economic data. The pair rose to nearly 1.3380 and then …