Cleveland Fed President Loretta Mester said as the Federal Reserve’s higher interest rates slow the economy, a recession may result, though it’s not part of her baseline forecast and is not what the central bank wants.US Dollar Index prints mild gains around 104.15 as bulls flirt with the six-week high …

The decision by Russia to cut crude oil output by 500,000 barrels per day reflects its inability to sell all of its oil according to Ben Harris, US Treasury Department Assistant Secretary. Russia’s Deputy Prime Minister Alexander Novak last week said it would voluntarily cut output beginning next month following …

Several calls, such as the one made by ECB board member Fabio Panetta to convert to smaller rate increases, have been made as a result of the lower-than-expected energy costs in Europe this winter.The ECB’s board member appointed by Italy, Panetta, urged caution, claiming that the economy had not yet …

Wall Street fell on Thursday after unexpectedly strong inflation data and a drop in weekly jobless claims added to fears that the Federal Reserve will keep raising interest rates to tame high prices. Decline in jobless claims, showed the economy is holding up amid the Federal Reserve’s rate hikes. The …

Gold is trading around $1845 per ounce at the time of writing versus the previous closing price at $1835.60. Earlier on Thursday, the precious metal’s price action headed lower, to record fifth decline in six sessions, as the US dollar rallied further following the release of stronger-than-expected U.S. producer price …

After reaching a daily high of 134.46, the USD/JPY stabilized around the 134.00 level, while bears intervened at the weekly highs and drove prices lower.The pair turned directions and suffered only slight losses of 0.08%. The USD/JPY pair is trading around 134.10s on Thursday. Negative divergence between oscillators and price …

“If evidence begins to accumulate to show that inflation is not declining in line with forecast, we are prepared to raise policy rate further, Bank of Canada Governor Tiff Macklem said while testifying before the Standing Committee on Finance. USD/CAD showed no immediate reaction to these comments and was last …

The EUR/USD pair is now adding to Wednesday’s decline below 1.0700. The pair is trading at 1.0656 at the time of writing. The US Producer Prices rose more than estimated in January. Another data-led rebound of the US dollar has put the EUR/USD pair under pressure and dragged it to …

The dollar benefited from renewed concerns about the continued US Federal Reserve’s monetary tightening spurring risk aversion. As American inflation eased just modestly in January, hopes for a Fed’s pivot faded. The United States published Retail Sales on Wednesday, which surged by 3% MoM in January, much better than anticipated. …

The USD/CHF pair is neutral-downward biased from a daily chart perspective. In the short term, the USD/CHF might fall to the bottom of the range, below 0.9200.The dollar continued to strengthen versus the Swiss franc on Wednesday, bolstered by US economic data that supported speculations for further aggression by the …