Oil prices rose on Wednesday to their highest level in 13 months, despite data showing an increase in crude inventories in the United States last week. However, the U.S. Energy Information Administration (EIA) reported showed that distillate stockpiles registered a large decline. In addition, output disruptions in Texas, due to …

The New York Stock Exchange (NYSE) closed higher on Wednesday, supported by the approval of the  Johnson & Johnson’s vaccine for emergency use in the United States. In addition, the market was supported by the remarks of the United States Federal Reserve Jerome Powell in his testimony to the House …

Treasury yields in the United States continued to rise on Wednesday but gave up their record high levels seen earlier today, following remarks by the Federal Reserve Chair Jerome Powell. Selling pressure of long-term debt instruments continued amid concerns about a rise in inflation, however, Powell delivered a calming message …

Gold prices declined on Wednesday for the second consecutive session, losing the important $1,800 support level. The decline in the yellow metal prices came amid a continuous rise in the U.S. Treasury bond yields that reached their highest level in about a year. Gold futures for April delivery declined by …

Chairman of the United States Federal Reserve, Jerome Powell, told the House of Representatives that the Fed will only raise interest rates when the economy achieves the employment and inflation targets. In his testimony to the House Financial Services Committee, Powell said that the Fed is in no hurry to …

Bitcoin returned to gains on Wednesday, following a steep decline on Tuesday that erased all of its weekly gains. The world’s largest cryptocurrency is up by 4.67% at $49,580.6, reducing its losses during the past seven days to 3.34%. Earlier today, the digital currency exceeded the $50,000 level. Square, a …

Crude oil inventories in the United States rose by 1.3 million barrels last week, data by the U.S. Energy Information Administration (EIA) showed on Wednesday. Meanwhile, gasoline stockpiles remained nearly virtually unchanged, while distillate inventories declined by 5 million barrels in the week ending February 19. However, oil prices continued …

European stocks closed higher on Wednesday, supported by positive economic data and a good performance by most market sectors. The STOXX Europe 600 index rose by 0.45% to close at 413.19 points. The German DAX finished higher by 0.80%, while the French CAC40 index gained 0.31%. Meanwhile, the UK’s FTSE100 …

New single-family home sales in the United States increased in January, data showed on Wednesday. This comes as the housing market in the U.S. continues to show strong activity, amid low mortgage rates and limited supply. New home sales grew by 4.3% to a seasonally adjusted annual rate of 923,000 …

The Bank of Canada (BoC) has decided on Tuesday to reduce the frequency of its Provincial Bond Purchase Program (PBPP) from two auctions per week to one. The move is consistent with the gradual reduction approach of programs that were introduced to help the Canadian economy cope with the impact …