Concerns that the federal government could hit its debt ceiling spiked after Treasury Secretary Janet Yellen sent a letter to party leaders in Congress urging them to raise the debt limit before the expected deadline on Thursday.Congress can prevent economic disaster by increasing or suspending the limit, as they have …

Gold price snaps two days of straight losses, gaining traction on Wednesday, as the US dollar slides to eight-month lows around 101.528 but lately has recovered some ground and exchanged hands around 101.871. Another reason that keeps the XAU/USD underpinned is falling US Treasury bond yields, with the 10-year note …

The Swiss Franc sharply rises versus US dollar and the Euro. Expectations about a less hawkish ECB do support the Swiss Franc, so far, the USD/CHF pair falls for the fifth consecutive day on Wednesday.The USD/CHF is falling by almost a hundred pips on Wednesday after trimming some losses during …

“Chair Powell is up to date with COVID-19 vaccines and boosters. Following Centers for Disease Control and Prevention guidance, he is working remotely while isolating at home,” a news release by the US Federal Reserve said on Wednesday. Powell, 69, is “experiencing mild symptoms,” according to the announcement. Powell’s most …

Interviewed by Dubai TV, Monday, Mohamed Hashad, the Head of Research and Development at Noor Capital and the member of the US Association of Technical Analysts, commented on the most important developments in global financial markets on the first day of the current trading week, with a special focus on …

US stocks traded within a tight range on Tuesday after contrasting Q4 earning reports from investment banks Goldman Sachs and Morgan Stanley, while China unveiled disappointing annual GDP data. Wall Street’s S&P 500 edged 0.2 per cent lower, supported by rising prices for energy and banking companies, while the tech-heavy …

US Treasury Secretary Janet Yellen will meet Chinese Vice Premier Liu He in Switzerland on Wednesday to exchange views on economic ties, global economic developments and talks are expected to focus on means to deepen communication between the world’s two largest economies.Yellen’s first face to face meeting with Liu stems …

United Kingdom’s Unemployment Rate data mainly pushed the British Pound’s latest rally. The GBP/USD pair is in the hands of the bulls on the front side of an hourly trendline ahead of key Consumer Price Index inflation data scheduled for release on Wednesday.The GBP/USD bears are eying a break of …

US stocks traded within a tight range on Tuesday after contrasting Q4 earning reports from investment banks Goldman Sachs and Morgan Stanley, while China unveiled disappointing annual GDP data.Wall Street’s S&P 500 edged 0.2 per cent lower, supported by rising prices for energy and banking companies, while the tech-heavy Nasdaq …

The Data released on Tuesday showed lower-than-expected inflation figures in Canada. This data was largely as expected, so, the Bank of Canada is expected to raise rates by 25 bps next week before pausing for the remainder of 2023. The BoC’s core measures CPI-median and CPI-trim also decelerated by one …