The US Federal Reserve on Wednesday announced that it had lifted the policy rate, federal funds rate, by 75 bps to the range of 2.25-2.5%. This decision came in line with the market expectation.In its policy statement, the Fed noted that it anticipates that ongoing increases in the policy rate …

Facebook owner Meta Platforms is to report quarterly results that provides a clearer idea about advertising spending, the core source of revenue for all social media companies. The Meta earnings report will be released later on Wednesday.The lack of clarity on ad spending is a reason why Meta stock and …

The rate rise the Federal Reserve is almost certain to deliver Wednesday will likely draw a formal objection by a veteran policy maker though she was once the US central bank’s most steadfast hawk.Fed’s Esther George looks will likely vote against the 0.75 percentage point rate rise her colleagues on …

According to the Federal Reserve Bank of Atlanta’s GDPNow model, the US economy is expected to contract by 1.2% in the second quarter, up from the July 19 forecast of -1.6%. The US Dollar Index stays flat on the day near 107.20 after this report.After recent releases from the US …

Most economists expect the Fed to hike rates by 75 bps once again. Fed Chair Jerome Powell’s message on accepting pain to pin down inflation is expected to give a push to the US dollar. The American central bank is set to hike interest rates by 75 basis points for …

Pending Home Sales in the US sharply fell in June. The monthly data published by the National Association of Realtors showed on Wednesday that Pending Home Sales declined by 8.6% on a monthly basis in June following May’s growth of 0.4%. This reading came in much worse than the market …

a large amount of speculative interest was paying attention to US bond yields. The yield curve is the most inverted since 2000. 2-year Treasuries are yielding 3.03%, while the 10-year note yields 2.76%. An inverted curve is usually a sign of an upcoming recession. Economic Data Home purchases, in the …

WTI crude oil lost about 0.83% on Tuesday. The market’s sentiment shifted sour, augmenting appetite for safe-haven assets to the detriment of commodity prices as the US crude oil slides for the first time in this week. WTI traded at $95.51 per barrel following the report after settling down $1.72 …

The Gold Index is displaying back and forth moves in a narrow range of $1,713.92-1,721.97 as investors are awaiting the announcement of the fourth consecutive interest rate decision by the Fed. The precious metal has displayed a complete volatility contraction, which indicates that now the monetary policy announcement is the …

The short-lived crypto rally, according to some analysts, might have been a clever trap to tempt traders in. Bitcoin price is now redirected to the negative territory.Bitcoin price has broken the ascending trend channel, prompting a 25% profit rally since July 13. A breaking news coverage was issued on July …