Daily Economic Reports

Crude prices edged lower on accelerating fears linked to global recession risks after another wave of central banks’ decisions regarding quantitative tightening. This is why oil’s latest rally faded as risk aversion grows wilder.The stronger US dollar makes oil more expensive for those using other currencies. Oil prices slid about …

The Euro is soaring more than 100 pips against the Pound Sterling. ECB’s Lagarde opened the door for further 50 bps rate hikes in subsequent meetings. At the time of writing, the Euro has gained traction against the Pound Sterling (GBP) and is trading at 0.8705, above its opening price …

The Bank of England (BoE) is likely to return to its conservative stance in the final meeting of this year, having delivered its biggest rate hike in 33 years in November. The BoE will announce its interest rate decision at 12:00 GMT this Thursday, accompanied by the Minutes of the …

Investors are busy analyzing the potential levels of the Fed’s hawkishness. They are also digesting Wednesday’s speech by Fed Chair Jerome Powell. Fed officials projected that rates will rise at least another half a percentage point next year. That was enough to impact US stocks that became lower and at …

The dollar traded near its weakest levels in months against the euro and the pound sterling on Wednesday, after falling overnight on pressure from softer-than-expected inflation data that raised bets that the Federal Reserve will slow the pace of interest rate hikes. After raising interest rates four times in a …

Tomorrow is Jerome Powell’s last FOMC speech for 2022. The Federal Reserve has previously signaled a general tendency to step down the pace of interest rate hikes upon concluding its two-day meeting on Wednesday, with extensive expectations of a half-point rate hike to a range of 4.25% to 4.5%. Nevertheless, …

The dollar fell on Monday, but data released at the end of last week showing wholesale price inflation in the United States rose more than expected in November capped losses, reinforcing the possibility that the Federal Reserve will keep interest rates high for a longer period. The US currency recorded …

Earlier this week, Apple announced that it will offer end-to-end encryption for most material its users save on the iCloud storage service. The news means only an authorized device held by an authorized user will be able to access the content of the famous cloud storageThe new feature will protect …

The dollar was little changed against major currencies on Friday as concerns about the performance of the US economy returned, ahead of the release of producer price index data later on Friday and the Federal Reserve meeting to decide on interest rates next week. Investors are looking forward to a …

The US dollar has been declining against most major rival currencies since the beginning of the US trading session, on Thursday. The dollar’s performance is impacted by anticipations regarding the awaited US inflation.The dollar index, which measures the performance of the American currency against a basket of major currencies, fell …