The Biden administration is proposing a change to the one-hour gag rule on economic data, which has prevented officials from weighing in on critical data. The proposed change would allow officials to weigh in 30 minutes after the release of key data, allowing them to enter the dialogue thirty minutes …

The WTI crude oil is climbing to $79.05 per barrel, up 0.20%, at the time of writing, as hawkish signals by Fed officials initially dent but later fail to suppress oil prices.Iran announces plans to ramp up crude oil production to 3.4 million bpd by the end of September. The …

The US stock market experienced losses due to a stronger USD and hawkish remarks by Federal Reserve officials at the Jackson Hole Symposium. The SPX erased gains from Wednesday, retreating to 4,380. Fed officials Thomas Barkin and Susan Collins sounded hawkish at the beginning of the symposium. Jerome Powell’s speech …

Over the past ten years, China has witnessed the largest infrastructure boom in history, making it one of the key factors in the Asian country’s economic expansion. However, businesses who took out loans to support the development boom are now under unheard-of debt strain. The future of China’s whole economy …

Susan Collins of the Fed indicated on Thursday that the US central bank may be in a position where it doesn’t need to hike rates once more, while she left the door open for further action. These remarks had no immediate response from the US Dollar Index, which was last …

In a bid to lessen their sensitivity to changes in the dollar exchange rate, Brazil’s president called on the BRICS countries to establish a single currency for trade and investment between one another on Wednesday.At the Johannesburg BRICS conference, Luiz Inacio Lula da Silva proposed the idea. Given the variations …

Fed Chair Jerome Powell is expected to outline the final steps the US central bank could implement in the framework of the ongoing campaign to tame inflation during his speech at Jackson Hole Symposium. Powell’s speech comes as policymakers enter the most difficult stage of the fight against inflation, calibrating …

Wall Street’s key indexes rose on Wednesday due to Nvidia stock’s surge in shares, driven by expectations of a positive future outlook from the chip designer. Nvidia’s sales target exceeded Wall Street projections, leading to a record high for the chip designer’s shares. Analysts worry about a bigger selloff if …

As a result of waning worldwide economic activity, as shown by the S&P worldwide PMIs, WTI crude oil declined to $77.68 per barrel, down 0.54%, before improving to $79.01 at the time of writing. While oil stockpiles decline by 6.1 million barrels, US petrol inventories increase by 1.5 million barrels, …

The AUD/USD pair sets a third consecutive day of gains, rising more than 0.60% towards 0.6470. PMIs from August from the US and Australia came in lower than expected.Dovish bets on the Fed are applying pressure on the USD. The AUD/USD gained traction in Wednesday’s session, driven by a weaker …