US Treasury Secretary Janet Yellen said on Wednesday “Over the past two years, we have worked successfully to ease supply chain pressures, and that includes funding pop-up container yards and moving several ports to 24/7 operations.”“While inflation remained elevated, there were encouraging signs that supply-demand mismatches were easing in many …

The USD/CAD bulls are moving ahead despite Tuesday’s bearish close. The US Dollar has firmed on hawkish sentiment around the US Fed again versus seemingly dovish stance adopted by the Bank of Canada.. There is a 61.8% Fibonacci retracement level near 1.3350 below the neckline near 1.3380. However, given that …

An account of the deliberations of the Bank of Canada’s Governing Council leading to the monetary policy decision on January 25, 2023 was released on Wednesday as follows:“Members framed the decision along two dimensions: • whether to leave the policy rate where it was or to increase it by 25 …

WTI is registering solid gains of 0.43% on Wednesday. Less hawkish comments by Fed Chair Jerome Powell seem to reinforce oil prices.The US crude oil benchmark, edges up by a margin of 0.50% as a risk-on impulse hits the market, which, worried about an astonishing US jobs report, expected a …

British fighter jet deliveries to Ukraine would have military and political ramifications for the entire European continent according to the Russian embassy in London.The headlines from Tass follow Ukrainian President Volodymyr Zelensky’s call for deliveries of British warplanes to ensure a victory that would “change the world.”There has been little …

Uber reported Q4 earnings on Wednesday that beat analysts’ estimates. In a prepared statement, CEO Dara Khosrowshahi said Uber ended 2022 with its “strongest quarter ever,” capping off its “strongest year.”For the first quarter of 2023, Uber said it expects gross bookings to grow between 20% and 24% year over …

On Wednesday, ECB policymaker Klaas Knot said that the headline inflation appears to have peaked, adding that keeping current pace of hikes into May could well be needed if underlying inflation does not materially abate.Knot’s comments do not seem to be helping the Euro gather strength against its rivals. As …

The US dollar extended its February rally throughout the first half of the day, but turned negative during the US trading session to end the day mixed, as Fed’s Jerome Powell participated in a moderated discussion at the Economic Club, Washington DC.Key DevelopmentsIn his first State of the Union address …

WTI crude got bolstered on the weaker US dollar that got impacted following Fed’s Powell remarks in his speech before the Economic Club of Washington. China’s reopening and Turkey’s earthquake are among the key factors reinforcing crude oil prices.Powell said very strong jobs data released last week simply affirmed that …

Fed Chair Jerome Powell tends to stick to the scenario of ‘ongoing rate increases will be appropriate’ as inflation is still as twice as big as the US 2% target. The next CPI report might not have so much love for Wall Street, despite its release on Valentine Day Tuesday …