The U.S. Dollar (USD) rose on Thursday, supported by the drop in weekly jobless claims and the testimony of the Federal Reserve Chair before Congress, in which expressed the central bank’s patience in dealing with the rising inflation. Unemployment benefits data showed that the labor market continues to show recovery …

Gold prices finished lower on Thursday after recent remarks by the Federal Reserve Chair Jerome Powell eased concerns about the rising inflation a sudden change in monetary policy. The yellow metal’s decline comes a day after finishing at its highest level in about a month. Gold futures for August delivery …

European stocks finished lower on Thursday, with the energy sector leading the losses due to the drop in crude oil prices. The STOXX Europe 600 index closed lower by about 1%, logging its biggest decline and its lowest closing level since July 8, at 456.20 points. Oil and gas stocks …

The United States Senate could be voting on the bipartisan infrastructure bill next Wednesday, Senate said Majority leader Chuck Schumer said on Thursday. The $1.2 trillion plan includes spending on roads, bridges, and other infrastructure projects. “All parties involved in the bipartisan infrastructure bill talks must now finalize their agreement …

The United States import price index surged by 1% in June, official data showed on Thursday. This marked the seventh consecutive monthly increase for import prices. Despite coming in line with market expectations, the rise in the cost of imported goods showed another element contributing to the surging inflationary pressures. …

A dovish tone by the Federal Reserve Chairman Jerome Powell, in his testimony before Congress, pushed the U.S. Dollar (USD) lower on Wednesday. Powell acknowledged progress in an economic recovery but said the economy remains far from achieving the substantial further progress needed to begin tapering asset purchases and then …

The main indices of the New York Stock Exchange (NYSE) finished mostly higher on Wednesday, with Wall Street investors digesting the Federal Reserve Chairman Jerome Powell’s testimony before lawmakers, in which he vowed patience and no rush in raising interest rates in response to the rising inflation. Powell expects inflationary …

Oil prices closed lower on Wednesday after news reports pointed to expectations of an agreement between major producers about output policy in the coming months. Sources reportedly told Bloomberg that the OPEC+ alliance is planning another meeting soon to close the deal, while other media reports said that an agreement …

The United States Federal Reserve Chairman Jerome Powell assured lawmakers on Wednesday that the sharp rise in inflation this year will soon ease. In his testimony before the House of Representatives Financial Services Committee, Powell said that despite the rise in consumer prices, which he expects to remain elevated in …

Gold prices rose on Wednesday to finish at their best level in about a month, supported the decline of the U.S. Dollar (USD) and Treasury bond yields after the Federal Reserve Chairman Jerome Powell assured Congress that the high inflation will eventually ease. This means that the Fed will be …