The US debt ceiling talks are nearing agreement as the default deadline looms, with Wall Street and European shares rising as the White House and congressional Republicans work on the final touches of a package to present to Congress. House speaker Kevin McCarthy arrived at the US Capitol on Friday …

Oil prices ticked up on Friday by 1%, as the market weighed conflicting messages from Russia and Saudi Arabia ahead of the next OPEC+ policy meeting. Brent crude was last up 53 cents at $76.79 a barrel, while US WTI rose 63 cents to $72.46 a barrel. Russian President Vladimir …

The AUD/USD pair is currently trading at its year-low due to positive economic developments and hot Core PCE inflation from the US. However, the Australian Retail Sales from April data indicated no variation in sales levels compared to the previous period. This lackluster performance reflects the challenges faced by consumers …

US data pointed to a resilient economy while progress on US debt ceiling talks remained elusive, helping Treasury yields higher and the US Dollar to score its highest level in over two months. Traders were wary of a possible default in early June while US President Joe Biden and top …

Gold price has retreated to $1,940.00, during Thursday’s US session after US GDP revised up to 1.3% in the first quarter of 2023, while Jobless Claims come in below expectations.Core PCE inflation rises by 5% in Q1, the strong US data was dragging gold to its lowest level since March …

The EUR/USD pair hits a two-month low amid US debt-ceiling concerns as well as positive US economic data though Fitch places US “AAA” debt rating on negative watch despite lower unemployment claims and a rise in Q1 GDP. Germany’s Q1 GDP plunge puts additional pressure on the Euro, with central …

The USD/CAD pair surged past the 1.3600 mark amidst rising US bond yields and US political uncertainty. The US economy displayed recovery signs with lower-than-expected jobless claims and an upwardly revised Q1 GDP, while the Fed hints at a pause in rate hikes. On the Canadian front, Manufacturing Sales declined …

ECB policymaker Klaas Knot said that the ECB needs to raise the policy rate at least two more times. Knot further argued that rates should stay put for a significant period of time following these increases.“Headline inflation peak behind us but not sure if at peak of underlying inflation”, Knot …

This week, senior American trade officials will meet with China’s Minister of Commerce Wang Wentao in the US. The meetings will be another attempt by the two largest economies in the world to warm chilly bilateral relations. Beijing said on Thursday that Wang Wentao plans to use his trip to …

Canadian shares hit a near-two month low on Thursday, as the losses in the country’s top lenders overshadowed the gains in tech stocks. The Toronto Stock Exchange’s S&P/TSX composite index was down 99.28 points, or 0.5%, at 19,828.41. Royal Bank of Canada slid 2.0% on a quarterly earnings decline, while …