U.S. consumer confidence rose in early June, recovering most of its losses in May, data by the University of Michigan showed on Friday. The Index of Consumer Sentiment rose to 86.4 this month, from 82.9 in May, while the current economic conditions index rose to 90.6, compared with 89.4 last …

The recent surge in consumer inflation in the United States is likely to be temporary, as recent remarks by the Federal Reserve officials indicated prior to the release of last month’s reading of the consumer price index (CPI) which rose 5% on an annual level. The inflation rate, which exceeded …

The New York Stock Exchange (NYSE) finished higher on Thursday, with the S&P 500 closing at a new record high, with Wall Street investors seemingly showing no concern over the surge in inflation that was shown by the consumer price data for last month. The Dow Jones Industrial Average rose …

The Euro (EUR) registered marginal losses against the U.S. Dollar (USD) on Thursday, erasing most of its gains on Wednesday. The EUR/USD pair declined by about 0.02% to reach the 1.2177 level, following a series of fluctuations due to various factors affecting the market. On one hand, the European Central …

The British Pound (GBP) declined against the U.S. Dollar (USD) on Thursday, after data showed a surge in the inflation rate in the United States. The GBP/USD pair maintained its downward trend for the third consecutive day, failing by about 0.17% to 1.4094. The Sterling rose earlier in the session …

Oil prices closed higher on Thursday to recover from yesterday’s losses that followed the large surge in gasoline inventories in the U.S, and restore its highest level in more than two years. Brent crude futures for August delivery rose by 30 cents, or 0.4%, to close at $72.52 per barrel, …

Gold prices rose slightly on Thursday, with the U.S. Dollar (USD) fluctuating and investors reacting to the large surge in inflation in the U.S., as shown by the most reading of the consumer price index (CPI) that rose by 5% in May. The reading marked the biggest increase in U.S. …

European stocks closed Thursday on a mixed note, following the European Central Bank’s (ECB) decision to maintain interest rates unchanged. The STOXX Europe 600 index finished marginally higher by a little less than 0.1% to close at a new record high. The UK’s FTSE100 index also gained 0.10% to finish …

The main indices of the New York Stock Exchange (NYSE) rose on Thursday in early trades, despite today’s data showing a surge in inflation to its highest level since 2008, with the S&P 500 index hitting a new record high. Wall Street investors are awaiting whether the 5% rise in …

The Organization of the Petroleum Exporting Countries (OPEC) has maintained its forecast for demand growth this year. The global demand for crude oil is expected to rise by 6 million barrels per day, reaching 96.58 million barrels a day, according to OPEC’s monthly report released on Thursday. The forecasted demand …