WTI futures are trading higher for the second consecutive day on Thursday, to depart the last two weeks’ downtrend. WTI crude has extended its recovery from Tuesday’s lows at $82.15 to session highs at $87.10 before retreating around $86.00 zone. The American crude is trading at $84.47 per barrel at …

The British Pound rallied on Thursday and investors reined in their bets on a big Bank of England interest rate hike in November as UK Prime Minister Liz Truss announced her resignation just six weeks after she was appointed.At the time of writing the GBP/USD pair is trading at 1.129 …

The negative market mood erased Tuesday’s relative optimism. This sentiment has benefited the American Dollar on Wednesday, which extended its latest rally against major rival currencies.The trading day witnessed the release of fresh inflation reports that reminded traders of the high risk of a looming global recession.The EUR/USD pair finished …

Traders witnessed another day of battle for control of Bitcoin’s $19,200 support level, as there was seldom any change to the persistent choppy price action in the crypto market during trading on Wednesday.The US dollar’s Index, DXY, rebounded and so, spiked above 113 near midday after hitting a low of …

Stocks moved lower on Wednesday as Wall Street struggled to extend its rally amid a sharp rise in Treasury yields. The Nasdaq Composite lost 0.85% to close at 10,680.51. The S&P 500 ticked down 0.67% to 3,695.16. The Dow Jones Industrial Average slipped 99.99 points, or 0.33%, to finish the …

Gold has been plagued by accelerating decline. On Wednesday, the precious material also hit fresh three-week lows below $1,630. Gold is trading at $1,628.60 per ounce at the time of writing.Meanwhile, the USD rallies on Fed officials signaling further tightening and soaring US yields. Gold has nosedived nearly 1.5% so …

Federal Reserve Bank of St. Louis President James Bullard hinted at the possibility of raising interest rates by 75 basis points at each of its next two meetings in November and December. The US dollar bounced, it has from two-week lows on Wednesday with a rise in US Treasury yields …

US main indexes struggled for direction on Wednesday as a surge in Treasury yields to 14-year highs on expectations of bigger interest rate hikes diminished optimism from the positive start to the earnings season.While some gauges of the equity market’s health showed that the latest rally may be the start …

The Federal Reserve’s Beige Book has been released pointing out that price growth is still high with some easing was noted across several districtsThe Beige Book also noted that the US national economic activity expanded modestly on net since the previous report; however, conditions varied across industries and Districts.Overall Economic …

President Joe Biden announced a plan on Wednesday to sell off 15 million barrels of American crude oil from the emergency supply and begin refilling the reserve as he tries to contain high fuel prices ahead of midterm elections scheduled on November 8.Biden’s decision came two weeks after the OPEC+ …