Gold reversed from two-day highs and is back near weekly lows as the US dollar surges after comments by key central bankers in their speeches before the ECB Forum from Portugal.Gold prices dropped sharply during the US trading session, erasing daily gains. XAU/USD peaked at $1833, the highest level in …

Wall Street trading got off to a mixed start on Wednesday as market participants digest remarks and comments by Fed Chair Jerome Powell at the European Central Bank forum.As of 1530 BST, the Dow Jones Industrial Average was up 0.42% at 31,077.05, while the S&P 500 traded 0.07% firmer at …

European Central Bank President Christine Lagarde, FOMC Chairman Jerome Powell and Bank of England (BOE) Governor Andrew Bailey speak on the policy outlook at the ECB’s annual Forum on Central Banking.Key Quotes Powell: “Dollar strength is disinflationary at the margins.”Powell: “We working hard to get smarter about the supply side.”Bailey: …

ECB President Lagarde says that the move away from globalization will end the era of low inflation. She also noted that inflation expectations are higher than before.She said the ECB can move gradually but as uncertainty fades, can be more decisive. At one point she was led towards removing the …

Gold lost some ground and settled around $1,820 per ounce, but crude oil prices kept rising amid supply concerns. G7 leaders discussed an agreement to impose a price cap on Russian oil, as sanctions on the crypto sent crude prices skyrocketing. WTI is now at around $111.60 a barrel.The US …

Bitcoin has surged 5% and topped nearly $22,000 over the weekend, in what can be seen as a big jump from early June’s $17,500 low. Ethereum saw a big jump as well, rising to above $1,200. For investors. The big question in the crypto asset market now is whether the …

The British pound extends its losses to two successive days, trading below the 1.2200 mark, after touching a daily 1.2300 high mark and even retreating towards the 1.2190s area in the US trading session. The GBP/USD pair is trading at 1.2189.Market sentiment shifted sour after the disappointing US Consumer Confidence …

The yield on the benchmark 10-year Treasury note was little changed at 3.2%. Meanwhile, the yield on the 30-year Treasury bond gained just over 1 basis point to trade at 3.313%. Yields move inversely to prices.Traders and investors have become increasingly concerned about the anticipated recession in recent weeks as …

On Tuesday, San Francisco Federal Reserve Bank President Mary Daly said she believes the US economy will slow to below 2% annual growth as the central bank hikes interest rates, but there will be enough momentum that it will not stop growing.“I do expect the unemployment rate to rise slightly, …

The Canadian dollar strengthens 0.3% against its American counterpart on Tuesday. The CAD has touched its strongest level since June 13 at 1.2820.Easing COVID-linked restrictions in China boosted the investors’ sentiment. Global shares were higher and the price of oil, one of Canada’s major exports, rose following China’s decision to …