The Federal Reserve will get prepared to hold interest rates “higher for longer” in case inflation continue to surprise to the upside, and market pricing will need to adjust accordingly, Fed’s St. Louis president James Bullard said on Tuesday who wants rates at 4% by the end of the year. …

Oil futures ended session lower on Tuesday after attempts to make gains due to the energy related row between Moscow and Brussels. The row referred to above was to give a push to oil, but US futures settled down at the end of today’s session because of inflation fears a …

Gold futures ended session higher on Tuesday buoyed by dollar weakness ahead of US inflation readings due to be released next Wednesday amid forcastes inclined to lower inflation in July. Gold settled at 1793 USD per ounce versus last Monday close at 1788 USD per ounce.  The low of the …

Oil edged up on Tuesday, reversing an early decline as worries about tightening supply were revived after Russia said oil exports to Europe on the southern leg of the Druzhba pipeline had been suspended since early August.Russian pipeline monopoly Transneft said Ukraine had suspended oil flows via the pipeline leg …

The global oil demand is expected to rise by 2.08 million barrels per day (bpd), down from 2.23 million in the previous forecast, to 99.43 million bpd in 2022, the US Energy Information Administration said in its latest monthly report, as reported by Reuters.Crude oil prices continue to push lower …

The USD/CAD pair has erased some of Monday’s losses and is now gaining about 0.24% at the time of writing.The diminished market sentiment keeps safe haven currencies like the US dollar in a positive situation. Investors brace for US Consumer Price Index for July, with headline inflation estimated to fall.The …

US labour productivity declined for the second consecutive quarter as overall economic output contracted and employers spent more on labor as they added workers.US nonfarm labor productivity is a measure of goods and services produced in the US per hour worked, fell at a seasonally adjusted annual rate of 4.6% …

The US Bureau of Labor Statistics will release July’s CPI data on Wednesday, August 10 at 12:30 GMT and as markets get closer to the release time, forecasts by the economists of nine major banks regarding the upcoming US inflation print expect inflation to ease down.Economists expect inflation to decelerate …

The US dollar eased on Monday as government bond yields retreated, providing support to stock markets. Still, the absence of relevant news maintained US indexes seesawing within familiar levels. European indexes posted modest intraday gains, but Wall Street closed mixed.Spot gold retained gains at the end of the day at …

Goldman Sachs revised down its Brent price forecast for this quarter to $110 a barrel, down from a previous projection of $140 per barrel, but the investment bank still believes the case for higher oil prices remains strong.In recent weeks, oil prices have been driven down by low trading liquidity …