Daily Economic Reports

Easing Off Recent Highs The dollar took a step back on Wednesday, relinquishing some of its recent gains against the euro, as US bond yields softened, adding pressure on the greenback. Technical Corrections The reversal in the dollar’s trajectory was largely attributed to technical factors, following a two-day surge against …

Steady US Production Forecasts Boost Oil Market Confidence Oil prices saw a modest uptick on Wednesday, fueled by optimistic projections regarding the stability of US oil production growth over the coming years. This positive outlook has helped alleviate concerns surrounding potential oversupply in the market, providing some relief to investors …

Following a decline in the US dollar and Treasury yields, gold saw a rise on Tuesday as traders braced themselves for statements from multiple Federal Reserve officials this week, which would likely provide insight into the rate of interest rate reductions this year.Gold Firmer on softer US Dollar As of …

The eurozone economy has weakened throughout 2023, with the Composite Purchasing Managers’ Index dropping below 50 in June, signifying a moderate contraction. This weakness stemmed from Europe’s recovery from an energy shock, as well as a lack of fiscal support in comparison to the more resilient US economy. Interest rate …

The Dollar Index temporarily dipped below 104.20 on Tuesday, one day after reaching its best level in nearly three months on good economic data and the Fed’s hawkish stance on interest rates, with the US service sector exhibiting resilience, prompting markets to disregard an interest rate cut in March. Loretta …

As China prepares for the Lunar New Year holiday, the mood is generally positive, with state media expressing optimism. However, there is growing discontent and hopelessness among the population, who are feeling battered by months of economic uncertainty, falling employment, and a warning housing crisis. The Chinese government’s attempts to …

Gold Prices Hover as Investors Await Clarity on Fed’s Stance In the European trading session on Tuesday, Gold prices (XAU/USD) exhibit a lack of decisive movement, ensnared within a tight range, as market participants eagerly await key insights from Federal Reserve (Fed) officials regarding their outlook on interest rates. The …

The US dollar maintained its position near a three-month high on Tuesday, bolstered by reduced expectations of significant interest rate cuts by the US Federal Reserve. Conversely, the Australian dollar saw an uptick following indications from the Reserve Bank of Australia (RBA) suggesting a potential interest rate hike to address …

Oil prices climbed by nearly a dollar per barrel on Monday, on concerns that Middle Eastern tensions and Russia’s escalating invasion of Ukraine could limit world supplies.Brent crude prices closed at $78.22 per barrel, up 66 cents (0.9%), while US West Texas Intermediate crude futures settled at $72.78 per barrel, …

The Treasury will send officials to China this week to discuss a variety of economic issues. Talks will focus on business and market practices that have put the superpowers at odds. The Treasury envoy will visit China this week as the two giants work to resolve economic tensions following last …