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 …

Gold prices have been served a blow by a new rebound of the U.S. dollar and by the rise of the 10-year bill yields. Gold for December delivery lost $14.60, or 0.8%, to settle at $1,722.90 per ounce, following another decline by 0.8% on Tuesday. Prices marked the lowest most …

Traders have put selling of U.S. Treasuries on pause. This prevalent trend left yields mostly lower on Wednesday, with an eye on financial talks in Washington.On Wednesday yields got lower at 0.0507% after U.S. House Speaker Nancy Pelosi’s statements on the suspension of the U.S. debt limit.The two-year U.S. Treasury …

The U. S. dollar has risen versus the Japanese yen to its biggest high since March 2020 as the Euro falls to lowest since early November.The dollar index which measures the U.S. currency against a basket of six major currencies rose for the fourth consecutive day, to 94.37 from 93.77 …

Oil futures extend losses as EIA reports increases in U.S. crude, gasoline and distillate supplies. The energy sector is currently experiencing mixed to lower start, supported by strength in the major equity futures and pressured by weakness across the most important commoditiesWTI and Brent crude oil futures continued to inch …