Fed Chair Jerome Powell returns to Capitol Hill on Wednesday for a second day of testimony. Markets will be looking for clues about how the central bank is thinking about plans to raise interest rates next year.Powell testified alongside Treasury Secretary Janet Yellen before the Senate Banking Committee on Tuesday, …

According to a survey compiled by the Institute of Supply Management, released Wednesday, US Manufacturing PMI rose to 61.1 in November from 60.8 in October. That was slightly above the expected reading of 61.0 and above October’s reading at 60.8. The employment index rose to 53.3 from 52.0, the new …

Uncertainty Behind Volatile US Session Risk-aversion is increasingly becoming a key word in the market context. The US dollar firstly fell but changed course during US trading hours to reach weekly highs against most major rival currencies.Concerns around the coronavirus pandemic rotated during the first half of the day, with …

Gold futures are currently traded lower by -2.20 at 1774.95 per ounce during on Tuesday after giving back some earlier gains because the precious metal got impacted by comments from U.S. Fed’s Powell sent buyers to selloff. According to the current market sentiment, Powell was able to send hawkish waves …

US showdown is looming again as Congress returns to the thorny issue facing urgent deadlines to avoid debt ceiling limit default. Failure to reach agreement on funding bills or debt ceiling would profoundly impact the country and Biden’s Administration, while failure to agree on a final form of the USD …

While wider optimism has spread believing the job market is getting better, a lot of US citizens believe the actual economy s getting worse and worse.Claims for unemployment benefits retreated to lowest point since 1969 the week before Thanksgiving in an amazing rebound from the levels earlier during the Covid-19 …

Speaking on State TV in Turkey on Tuesday, Turkish President Recep Erdogan said that he will boost investment, employment, growth and production by lowering interest rates.Interest rates are the cause and inflation is the result, he continued, adding that he thinks economic growth in 2021 will be about 10%. Hopefully …

Fed Vice Chair Richard Clarida said on Tuesday that the labour market right now is a lot tighter than it was following the previous two recessions and that wages gains are healthy but not out of line with productivity.Adverse supply shocks can be a challenge for monetary policy, he added, …

Crude oil prices stumbled on Tuesday US crude futures fell by more than 6%, after Moderna’s chief ignited doubts about the efficiency of COVID-19 vaccines against the Omicron variant, startling financial markets and heightening worries about oil demand.Brent crude futures fell $2.95, or 4%, to $70.49 a barrel by 12:12 …

The sterling fell to a one-year low versus the US dollar Tuesday due to the sentiment of divergence between the Federal Reserve and the Bank of England following hawkish comments from Fed’s chairman Jerome Powell. GBP/USD is trading at 1.3250 and down around 0.5% on the day so far, falling …