Gold price holds around 1670$ even after US PPI data. The precious metal stays firm despite the US dollar’s strength.Market participants turn attention to FOMC minutes ahead of Thursday US CPI numbers. Gold continues to trade around $1,670 as it has been the case since the beginning of the European …

The US is struggling to protect chips supply chain against consequences of its new export curbs on China’s chip industry because such consequences could harm the semiconductor supply chain.Just hours before a new restriction became effective, South Korea’s chipmaker SK Hynix Inc announced it got authorization from the United States …

The US Dollar is strong at the end of Tuesday after intraday reverse that kept it in the red territory for most of the US trading session. The American Dollar extended its advance against its safe-haven rivals, with USD/CHF now quoting at 0.9960 and USD/JPY at 145.80.US Treasury bonds fell …

The EUR/USD pair is barely up 0.08% on Tuesday, following BoE’s Baily remarks, which deteriorated the market sentiment. During the European session, the ECB Chief Economist Philip Lane said that the ECB would impact the markets by hiking rates than selling its hefty pile of bonds on Tuesday. Given that …

The Euro breaks above 0.8800 to hit session highs at 0.8855. the EUR/GBP pair is trading at 0.8841 at the time of writing. Bank of England governor Andrew Bailey announces the end of the emergency support program and subsequently the pound falls.Additionally; BoE governor warns about unprecedented volatility in the …

The next step taken by General Motors will feature providing new energy products to households, businesses and utilities. Meanwhile, competition is heating between GM and Tesla in the field of making and selling electric vehicles.GM’s new line will be housed under a new business unit called GM Energy and covers …

The International Monetary Fund has reduced its forecast for the global economy, but this time with a loud warning, claiming that “The worst is yet to come, and for many people 2023 will feel like a recession”. “More than a third of the global economy will contract this year or …

Bitcoin price performance declines in line with US stocks ahead of classic volatility caused by the US Consumer Price Index data. The cryptocurrency’s price followed analysts’ predictions with mixed action continuing around $19,000 at Tuesday’s Wall Street open. At the time of writing, bitcoin is trading at $18972.The BTC/USD pair …

Stocks escaped an early decline and, instead, marched higher on Wall Street as investors await information on inflation and corporate earnings. worries about recessions are hitting major economies worldwide. The S&P 500 rose 0.6% as of 12:52 p.m. Eastern. The benchmark index fell as a much as 1.2% earlier after …

Federal Reserve Bank of Cleveland President Loretta Mester reiterated on Tuesday that policymakers have not achieved much in their endeavors nor made any progress on lowering inflation.The US Dollar Index stays under bearish pressure despite these hawkish comments and was last seen losing 0.43% on the day at 112.70.Key Quotes“Monetary …