Oil is trading at USD 75.08 a barrel for WTI and at USD 77.70 for Brent on Thursday.The global energy crisis impacted China’s economy, however, since China came out to express preparedness to pay top dollar to secure more supply and issued orders to energy suppliers to stock up, oil …

The Japanese yen has reaped gains and versed directions on Thursday. The USD/JPY is trading currently at 111.48, down 0.41% during the day’s trading session.The yen previously experienced six successive losing sessions and dropped about 2 percent. On Wednesday, USD/JPY was above the 112 line for the first time since …

Treasury Secretary Janet Yellen, Thursday, called for an ultimate end to the federal debt ceiling altogether and shot the idea raised by down lawmakers of minting a USD 1 trillion coin to avoid defaulting on the debt.Yellen described the debt limit as “very destructive” during the House’s before the Committee …

Wall Street reversed direction midday Thursday, with the Dow falling 400 points on the final trading day of the month and the quarter.Major indexes on Wall Street opened higher on Thursday but were unable to hold onto their gains. Around midday, the Dow (INDU) traded at 1.2%, or about 400 …

The economic performance of Joe Biden’s first quarter as president is good, but not great. America’s economy grew at a slightly faster rate than previously reported in the second quarter due to increased consumer spending, exports and inventory investment, the Bureau of Economic Analysis reported Thursday.Gross domestic product, the broadest …

West Texas Intermediate futures have bounced up to USD 75.70 on China’s measures to secure supplies.Crude oil futures have turned positive on daily charts. Oil prices lost ground following an unexpected increase in U. S. inventories.Oil prices have bounced more than USD 2 in less than an hour, erasing previous …

The House of Representatives passed, Wednesday, a stand-alone legislation to suspend the federal debt limit through December 2022, but the bill will be encountered with block vows in the Senate due to solid Republican opposition.The bill has been passed on a partisan line vote of 219-212 as Speaker Nancy Pelosi …

While the Office of the Comptroller of the Currency (OCC) insists that lack of due regulation in the crytospace could easily lead to a financial crisis, seven members of the Congress sent a letter to Jerome Powell, chairman of the Federal Reserve, asking about the U.S. central bank’s efforts on …

Awaiting the end of the North American trading session, the British pound has fallen again during the trading session on Wednesday, to crash 1.35.The GBP/USD pair crashes below 1.3500, down by 0.84%, and is trading at 1.3422. The pair has not been able to recover since Tuesday’s collapse of almost …

Federal Reserve Chair Jerome Powell and his counterparts at the ECB, Bank of Japan and Bank of England stressed, Wednesday, with cautious optimism that supply-chain disruptions lifting inflation rates are temporary.Powell and Lagarde participated in a virtual panel event. Jerome Powell continues to view this year’s acceleration in inflation as …