Federal Reserve Chair Jerome Powell said on Tuesday that US central bank officials will keep tightening policy until inflation comes down in “a convincing way.”“There have been some promising signs you can point to,” Powell said at a Wall Street Journal conference. But, he added, “There are some signs that …

The US dollar is crumbling, this week as investors survey the landscape of the global economy, not just in the US. The dollar has fallen victim to improved risk sentiment, helping the likes of the euro that has been extending its rebound from a five-year low touched last week, and …

The euro is higher versus the US dollar by 1.13% rallying on wider risk-on from 1.0428 to a high of 1.0555. The euro has extended the rebound from a five-year low touched last week while the US dollar is down against its major trading partners.The euro benefited at the start …

Data released on Tuesday showed Industrial Production rose 1.1% in April. Analysts at Wells Fargo point out that US factories, mines and energy producers together called more capacity into service than at any other time since the start of the pandemic. They warn supply chains are not fixed and could …

Despite rising interest rates, high inflation and product shortages, retail sales rose above expectations in April and upward revisions to the prior month suggests a better first quarter for consumer spending than first reported, explained analysts at Wells Fargo. Key Quotes: “The main takeaway is that despite all the obvious …

The USD/CAD bounced to the upside and eared losses on Tuesday after the greenback gained momentum during the American session. The pair printed a fresh daily high at 1.2854 and it is hovering around 1.2845. Earlier on Tuesday it bottomed at 1.2805, the lowest level since May 5.Economic data from …

The US dollar briefly edged higher at the beginning of the week but closed with modest losses against most rival currencies as equity markets changed direction. European indexes closed mixed, but Wall Street managed to post gains. Safe-haven currencies posted modest gains against the US dollar as well.Economic DataThis week, …

The bitcoin miner, Stronghold known for using waste coal for energy, had its shares retreating slightly in after-hours trading.Stronghold reported Q1 revenues of $28.7 million versus estimated $26.2 million. But its adjusted net loss of 66 cents per share exceeded the consensus estimate for an adjusted net loss of 8 …

“The European Central Bank (ECB) is expected to raise the deposit rate for the first time in over a decade in July and bring it out of negative territory at its following meeting in September, despite a 30% chance of recession within a year,” per the latest Reuters poll of …

The S&P 500 dropped, dragged lower by a slide in megacaps including Tesla Inc., Amazon.com Inc. and Apple Inc. The risk of an economic slowdown amid price pressures and rising borrowing costs is still the major concern for markets.Equities fell back toward session lows in the last hour of trading …