The Nasdaq Composite closed higher in a mixed trading session on Wednesday as investors tried to find their footing after the biggest one-day drop in more than two years.The modest gains followed a massive sell-off for stocks on Tuesday. The Dow sank more than 1,200 points, or nearly 4%, while …

Gold price has retreated but eventually was able to stabilize ahead of the looming FOMC’s rate hike and Ukraine peace talks Gold held steady as traders have worries concerning the monetary tightening path by the US central bank after economic data, including Tuesday’s CPI and Wednesday’s PPI, pointed to elevated …

The US dollar rallied on Tuesday against the yen, euro and other currencies following stronger-than-expected US inflation data that rocked US stocks, bolstered US yields and sent the greenback towards last week’s two-decade peak of 110.79. The price made a high of 110.01 before bears cleaned up across the counterparts …

The AUD/USD stopped the bleeding and jumped off weekly lows at around the 0.6700 figure after the US Producer Price Index report for August eased some of Tuesday’s CPI worries, which sent most risk assets to the red territory, while the US dollar rose above the 110.00 thresholds, on renewed …

It was a mixed day as far as price action goes across the cryptocurrency market on Wednesday as traders continued to digest the previous day’s pullback following a hotter than expected inflation figure which sent global financial markets tumbling. Bitcoin bulls defended the psychologically significant support at $20,000 throughout early …

Next week, the Bank of England will have its monetary policy decision. Consensus points to a 50 bps rate hike but a 75 bps is not ruled out. Analysts at Danske Bank expect fewer hikes than priced in markets as they emphasise the rising recession risk in the UK. Key …

European Central Bank’s policymaker Francois Villeroy de Galhau said on Wednesday that he estimates the euro area neutral rate at below or close to 2% and added that they could reach it by the end of the year.“Monetary normalization is fully warranted in the euro area, too early to say …

International Monetary Fund (IMF) Managing Director Kristalina Georgieva said on Wednesday that central bankers must be stubborn in fighting broad-based inflation, as reported by Reuters.“If fiscal policy is not targeted sufficiently, it may become the enemy of the monetary policy, fueling inflation,” Georgieva further added.These comments do not seem to …

Tuesday witnessed the biggest US dollar’s rally since 2020 on the back of fresh economic data released by the US Labour Department highlighting CPI that unexpectedly rose in August. The dollar index was up 1.5% at 109.85 in its biggest one-day percentage gain since March 2020. The American currency, however, …

US Treasury yields reacted very naturally to Tuesday’s inflation data. Yields have soared since the release of the CPI data and through the US session. The 10-year US Treasury yield rose to 3.444%, compared to the last daily close at 3.385%.The yields on these benchmark bonds fell to their lowest …