The GBP/USD pair is about to post back-to-back weekly gains, up by 0.94%. The Fed’s favorite inflation gauge has eased from above the 5% threshold, showing signs that elevated prices could be peaking soon as the US Dollar Index bounces off weekly lows and grinds higher by 0.10%, sitting at …

Data released on Friday has showed that US Personal Spending surged in April by 0.9%, above expectations. Wells Fargo’s analysts point out that for the first time since October 2021 income outpaced inflation. Analysts also forecast consumer spending will downshift over the next quarters. Key Quotes: “Personal income rose 0.4% …

WTI crude oil has stabilized just below monthly highs near the $114 level, as bulls eye further catalysts towards $120. Familiar themes of strong US demand, EU/Russia oil sanctions, OPEC+ output struggles and easing Chinese lockdowns are supporting prices.The EU’s plans to sanction Russian oil imports have also been in …

The US dollar attempted to modestly recover early on Thursday but closed the day with losses against most major rivals. Lukewarm US economic data and rallying equities helped particularly safe-haven rival currencies.US Treasury yields slightly changed on Thursday after the benchmark 10-year note hit a fresh six-week low, with inflation …

US Treasury yields slightly changed on Thursday after the benchmark 10-year note hit a fresh six-week low, with inflation concerns that continue to dissipate amid economic data and corporate results that point to slower economic growth.The yields on 10-year Treasury notes surge 0.9 basis points to 2.756% after falling to …

Alibaba stock soars after earnings beat, signs of improving conditions amid another COVID-19 wave. Alibaba Group Holding Ltd.’s U.S.-listed shares climbed 14.8% in Thursday trading to record second best single-day performance after the Chinese giant beat revenue and earnings expectations for the latest quarter.E-commerce giant Alibaba Group Holding reported a …

Gap dramatically slashed its profit outlook for 2022. Gap, on Thursday, slashed its profit guidance for the full year as it reported a decline in fiscal first-quarter sales, which were dragged down by its Old Navy business. Shares fell around 13% after hours, after closing the day up 4%.Gap swung …

The AUD/USD has remained positive in the week, up by 0.70%. China’s Premier Li Keqiang warned that the economy could not achieve its goals, weighing on the AUD/USD.During the Asian session, China’s Premier Li Keqiang sound the alarm about the slowing economy. He made comments to local officials in an …

WTI crude gained more than 3% on Thursday morning. Oil prices rose early on Thursday, extending this week’s gains, as demand looks strong with the U.S. driving season starting and Shanghai in China gradually reopening after two months of strict lockdowns.On Thursday, WTI Crude prices were up 3.17% at $113.69 …

The US dollar remained weak on Thursday, but losses are relatively limited. Meanwhile, US equities sharply rise as US T-yields are at fresh 2-day highs. The EUR/USD pair’s short-term outlook is bullish, and faces resistance at 1.0730 and 1.0750.The EUR/USD pair rose further during the American session and printed a …