U. S. Press Secretary Jen Psaki assured that the White House is continuing to press OPEC member states to address the crude oil supply issue. “I would also note that what we’re also working to address is more of a logistics issue of how we are moving supply around the …

EUR/USD has advanced during the New York trading session, up 0.07%, trading at 1.1610. During the session, market sentiment conditions improved despite a weaker than expected third quarter China’s GDP for the third quarter rose by 4.9% (YoY), lower than the 5.0% expected, which trailed the 7.9% increase of the …

Treasury Secretary Janet Yellen in a letter to Congress said that the Treasury must use extraordinary measures before 3 December 3 to meet all its obligations. She urges a long term debt ceiling increase.Yellen said the extended debt issuance suspension period would mean that Treasury would continue its suspensions of …

Polish Prime Minister Mateusz Morawiecki has warned that overreach by some of the EU institutions is a threat to the future of the bloc.In a letter to the EU’s 27 national leaders, Morawiecki defended his country’s actions, saying that the Commission is dangerously overstepping the limits of its powers by …

Later Monday, the European Commission will officially start consultation and discussion on whether and how to reform the Eurozone’s fiscal rules.Over the past 20 years the Stability and Growth Pact (SGP) has been one of the most contentious pillars of the monetary union. Despite all current shortages in the global …

Crude oil prices erased earlier gains, Monday, as the global energy crisis won’t require added crude demand for the rest of October due to warmer weather.The Commodity Weather Group anticipates that the US will have warmer than normal weather for the remaining days of October.Oil prices have been skyrocketing on …

Strong consumer demand has helped thrust builder confidence higher in October despite growing affordability challenges imposed by surging material prices and shortages.Builder sentiment in the market for newly built single-family homes moved four points higher to 80 in October, according to the NAHB/Wells Fargo Housing Market Index (HMI) released on …

Euro has ticked up, Monday, against the Japanese yen, for the eighth successive trading session, although it has failed to advance beyond the four-month high at 132.75 hit last Friday. The pair, however, maintains its positive bias intact, with bearish attempts contained above 132.15.The euro remains strong against an ailing …

Wall Street stocks were mixed early on Monday as bond yields rose and Chinese GDP numbers disappointed.The Dow opened 42.30 points weaker on Monday, cutting into gains recorded at the tail end of last week on the back of a better than anticipated start to the third-quarter earnings season.Dow was …

The U.S. economy will be battling a continued slowdown in 2022 as it contends with sticky inflation and supply chain bottlenecks.Growth is clearly slowing. Obviously the U. S. has passed the peak growth rate, but it’s a relatively graduate slowdown. A number of economists have cut their 2021 GDP growth …