On Wednesday, Russia’s Vladimir Putin described Western sanctions “stupid” and threatened to halt all energy sales to Russia’s critics if they move forward with a cap on oil prices proposed by the G7 industrialized economic powers.“We will not supply gas, oil, coal, heating oil, we will not supply anything,” Putin …

On Wednesday, EU’s Ursula von der Leyen proposed that the bloc cap the price of Russian-imported gas, among other measures, as the member states are forced to deal with a worsening energy crisis while seeking to punish Moscow for invading Ukraine.Facing a cut-off of Russian oil and natural gas as …

Gold price is firm on Wednesday, but the precious metal is looking forward to reaching key resistance as the US dollar retreated from fresh highs. Gold bulls eye a 50% mean reversion with the prospects of a break to $1,735 beyond the said level. Gold price has added to gains …

The Dow Jones Industrial Average gained 455 points, or 1.46%. The S&P 500 rose 1.79% and the Nasdaq Composite ticked up 2.06%, attempting to break a seven-day losing streak.Stocks rallied as Fed Vice Chair Lael Brainard reaffirmed that the central bank would do what it takes to stifle inflation, while …

The Fed’s Beige Book has noted that US economic activity is still under pressure and that “the outlook for future economic growth remained generally weak”.The Fed released its latest summary of feedback from business contacts nationwide as policymakers are considering whether to proceed with a third straight 75-basis-point interest rate …

Treasury yields have been in focus again prior to the open, with the yield on the benchmark 10-year Treasury note rising more than 11 basis points to 3.314%, while its 2-year counterpart rose about eight basis points to 3.481%.Wednesday’s moves come after the 10-year note jumped to its highest level …

Fed Vice Chair Lael Brainard reiterated on Wednesday that the Fed’s policy rate will need to rise further and that they will need to keep the policy restrictive ‘for some time’.The US Dollar Index showed no immediate reaction to Brainard’s comments and was last seen losing 0.25% on the day …

Dow jumps 200 points Wednesday, Nasdaq tries to snap 7-day losing streakUS shares surged on Wednesday. The shares are trying to abandon three-week slide as rates and oil prices eased, cooling investor concerns about continued high inflation.The Dow Jones Industrial Average gained 280 points, or 0.9%. The S&P 500 rose …

Russia could maximize revenues if it decides to resume selling natural gas to the EU member states again. Russia may have to turn the natural gas tap back on for Europe, Citi’s global head of commodities research said Wednesday. Russia has halted Nord Stream 1 flows, and Europe is facing …

The USD/CAD is soaring despite Wednesday’s 75 bps rate hike by the Bank of Canada, from 2.50% to 3.25%, amid mixed market sentiment, with most global equities tumbling, except for US stocks.At the time of writing, the USD/CAD edges up 0.18%, trading at 1.3174, above its opening price at 1.31510.The …