According to Federal Reserve’s Beige Book, “economic activity was little changed overall in April and early May”. The expectations for future growth deteriorated a little, “though contacts still largely expected a further expansion in activity.” “Employment increased in most Districts, though at a slower pace than in previous reports”, said …

Intel shares popped about 4% after the chipmaker announced it could soon see a turnaround. Speaking at a conference, CFO David Zinsner said the company’s data center division is starting to “turn the corner,” while adding that China inventory should start to ease after Q3 and that Q2 revenue will …

After consolidating above $69.00 earlier on Wednesday, oil price is trading a little below at $68.92 at the time of writing ahead of oil inventory data by the US API amid strong US consumer spending and soft labour market conditions that support chances of one more rate hike by the …

Th US Dollar has regathered its strength and rallied amid risk aversion. The dollar Index reached its highest level in over two months above 104.50 on Wednesday. The dollar’s performance is likely to continue to be impacted by risk perception in the second half of the day with investors keeping …

The debt ceiling agreement reached by US President Biden and House Speaker Kevin McCarthy is encountering difficulties, which is negatively affecting market sentiment. US markets ended with mixed results, as Treasury yields dropped significantly. Economic Data Consumer sentiment in the US weakened slightly in May with the Conference Board’s Consumer …

Gold prices ended higher Tuesday, partially buoyed by declining US Treasury yields, after the most-active futures contract briefly touched its lowest level since March overnight. Gold found support Tuesday from a retreat in US Treasury yields. Gold prices have retreated for most of May as the dollar has strengthened and …

By mid-Q3 2023, Tether intends to mine its first bitcoin in the Uruguayan plant. By starting a mining facility in Uruguay that will be operational by the middle of the third quarter of 2023, Tether is doubling down on its Bitcoin plan, the company said to Blockworks on Tuesday. Tether …

The USD/JPY pair declined for two consecutive days following remarks from Japanese authorities indicating increased scrutiny of currency market movements. The Japanese Yen strengthens in response to the news, putting downward pressure on the USD/JPY pair.USD/JPY maintains an upward bias as long as it holds above the key level of …

Thomas Barkin, President of the Federal Reserve Bank of Richmond, stated on Tuesday that he is seeing evidence that interest rate hikes are curbing demand. He is attending a webinar organized by the National Association for Business Economics. According to Barkin, there is more willingness among businesses to increase prices, …

WTI falls for the second consecutive trading day on concerns about the passage of the US debt-ceiling bill and conflicting statements from oil producers. Some Republicans express reluctance to pass the debt-ceiling pact, raising fears about the US government’s ability to meet its financial obligations.WT crude oil benchmark retreats for …