The US Federal Reserve officials on Wednesday are expected to set plans to begin accelerating the withdrawal of the massive bond-buying program, enacted in early 2020 to help the economy and financial markets cushion the impact of the coronavirus pandemic, as they seek to remove the crutches from the US …

The Senate passed legislation Tuesday to raise the nation’s debt limit by $2.5 trillion, one of the final steps Congress needs to take to stave off default and the economic peril that would come if the U.S. were unable to pay its bills. The bill, approved in a 50-49 vote, …

The Senate is now voting on final passage of a bill to raise the US debt limit by $2.5 trillion, which will extend the limit into 2023.The vote is taking place after a one-time, fast-track process was put in place to allow Democrats to act alone to increase the debt …

The US dollar is up against most of its rival currencies, rising during US trading hours on the back of higher yields and weaker stocks.The US published November PPI, which jumped to a record of 9.6% YoY, much higher than the previous reading that was at 8.6%, while the core …

Gold prices are under pressure on Tuesday following US data and the upcoming Federal Reserve’s decision. The yellow metal broke below the $1780 support and tumbled to $1766, reaching the lowest level since December 3.From the bottom, XAU/USD rebounded to as highs at $1777 and as of writing it is …

Germany’s opposition conservatives said on Tuesday they would file a complaint with the constitutional court about the new government’s plans to tap unused debt from this year’s budget for future spending on climate and economic transformation.The new government passed a supplementary budget on Monday to supercharge its climate and transformation …

European shares closed lower on Tuesday’s trading, impacted by resurfacing fears of the new coronavirus variant; Omicron.The negative news has made headlines since early morning trading Tuesday, with some 20 manufacturing centers closed in China’s Zhigang state due to the spread of the virus. Health authorities in the UK have …

Senate Democrats on Tuesday announced they would bring up legislation to raise the debt ceiling by USD 2.5 trillion, moving to stave off the threat of a first-ever federal default until at least early 2023.The figure would allow the government to continue borrowing to finance its obligations without further action …

The S&P 500 falls during the New York session, it is traded is at 4,615.85, down by almost 1.02%, after the US Producer Price Index for November rose the most since 2010, on the footsteps of the last week’s CPI, as more pressures build up on the Federal Reserve Bank …

WTI crude futures are currently trading above a key area of support in the USD 70.00 region, a psychologically important level that also coincides with WTI’s 200-day moving average (which resides at USD 70.37). In recent trade, WTI dipped under the USD 70.00 level and the 200DMA to print session …