The Canadian dollar strengthened against its US counterpart on Wednesday as oil prices surged and the Bank of Canada hiked interest rates as expected for the first time since October 2018 despite the crisis in Ukraine.Canada’s central bank hiked its key interest rate by 25 basis points to 0.50% to …

A US official said on Wednesday that the US assesses there have been no significant changes on the ground in Ukraine since Tuesday and that Russian force numbers in Ukraine have slightly increased, reported Reuters. There has been an increase in the Russian’s use of missiles and artillery target Kyiv, …

A Russian negotiatorssaid on Wednesday that a potential ceasefire will be discussed in upcoming talks with the Ukrainian delegation, reported Russia’s Interfax.The Russian delegation is waiting for talks with their Ukrainian counterpart in a second round of negotiations.Satellite images showed a 40-mile-long Russian military convoy approaching Ukraine’s capital of Kyiv …

European Central Bank Chief Economist Philip Lane said on Wednesday that the central bank stands ready to take whatever action is needed to fulfill its responsibilities to ensure that price stability and financial stability in the euro area is maintained, reported Reuters. Key Quotes:“The medium-term orientation allows for inevitable short-term …

US Federal Reserve Chair Jerome Powell, testifying before Congress on the first day of his semi-annual speech, said that it is time to move away from highly stimulative monetary policy settings.Monetary policy cannot address supply-side challenges and constraints, Powell added, stressing that “The US economy is very strong, the labor …

The Bank of Canada lifted interest rates by 25bps to 0.50% as expected on Wednesday, adding that it expected it will need to raise interest rates further. The BoC said that it would continue with the reinvestment phase of its balance sheet, maintaining its overall holdings of Canadian government bonds …

Eastern Europe geopolitical tensions are stilling leading market movements. Safe-haven assets turned higher, as Russia escalated its attacks on Ukraine, while President Putin said that the invasion would continue until he reaches his goal.Usually neutral countries are joining global efforts to stop Russia. Switzerland and Finland, among others, are either …

The Organization of the Petroleum Exporting Countries and its allies led by Russia, known as OPEC+, have been unwinding historic production cuts they instated in 2020 after the pandemic caused an unprecedented fall in global demand.Then, former US President Donald Trump intervened to encourage Riyadh and Moscow to end a …

US equities are sharply lower on Tuesday’s US session as investors express concerns and fret about the global economic impact of the West’s harsh sanctions against Russia.Russians intensified bombardment of Ukrainian cities. Commodity prices, including crude oil, natural gas and wheat, surged on Tuesday, igniting further concerns about longer-lasting inflationary …

US President Biden will deliver his first State of the Union address Tuesday, within a few hours, as he seeks to contain the impact of the running war in Ukraine, guide the US and its economy through the Covid-19 pandemic, and help buoy Democrats in November’s midterm elections.Biden will juggle …