Only nine votes separated the French National Assembly from rejecting a motion of no confidence in President Emmanuel Macron’s administration. With 278 votes, the motion received the 287 necessary to pass.The proposal to raise the retirement age from 62 to 64 is being met with stiff resistance from Macron’s government. …

US stocks rose Monday, as traders grew hopeful that a crisis in the banking sector may be easing. The gains followed a forced takeover of Credit Suisse by UBS engineered by the Swiss government.The Dow Jones Industrial Average gained 330 points, or `%. Meanwhile, the S&P 500 rose 0.7%, while …

Improved market sentiment on Monday reduces demand for the safe-haven assets, including gold. This is preventing the Gold Index (XAU/USD) from powering higher. However, market’s overall confusion could soon resurface if the Fed fails to convince investors this week that the worst is over in terms of financial instability.Gold price …

European Central Bank President Christine Lagarde told European Parliament’s Committee on Economic and Monetary Affairs on Monday that Eurozone banks’ exposure to Credit Suisse was in Euro millions, not billions. Key Quotes The ECB is “fully equipped to provide liquidity support to the euro-area financial system if needed”. “The European …

As US inflation is still high and as the banking sector encounters difficulties, and as both facts necessitate and demand opposite responses, the Fed is widely seen as stuck between a rock and a hard place ahead of FOMC meeting. Fed Chair Jerome Powell is still required to continue the …

The USD/CAD pair finished the week lower around 1.3700 but far from the bottom. Next week, the key report from the Canadian economy will be February’s Consumer Price Index (CPI) on Tuesday. The kiwi was among the biggest gainers despite weak New Zealand Q4 GDP data. TheAUD/USD had the best …

Gold price surged further to the upside during the US, breaking above $1,988.50 per ounce at the time of writing. Late on Friday, the Gold Index XAU/USD stands at the highest level since April 2022 and on its way to the third-highest weekly close on record.From the level it had …

Due to continuing worries about the condition of the US banking sector, investors reduced their holdings of First Republic and other bank shares on Friday, causing a decline in US stocks.First Republic dropped by almost 33% to finish the week down by almost 72%. That represented a change from the …

Getting prepared for hard times seemed to be a popular theme among Americans. As bank woes hit the news headlines, clients have started to signal more urgent concerns. A lot of it is post-traumatic stress recalling the bad memories of the global financial crisis in 2008. But the numbers today, …

At the time of writing, the price of one bitcoin is $26495. Bitcoin is on track for one of its largest weekly rises in recent memory, supported by bets on future interest rate reductions as the token weathers the financial sector’s turbulence.Since Monday, the biggest digital asset has increased by …