Economic Report

Fed will almost definitely raise interest rates on Wednesday as the value of the pound against the US dollar falls as a result of the US bank rescue. Bearish two-bar reversal pattern suggests short-term downside pressure for GBP/USD which is trading at 1.2460 at the time of typing.Tuesday’s European session …

Most Asian currencies changed little on Tuesday as markets braced for the Federal Reserve’s widely anticipated interest rate rise this week, but the Australian dollar jumped on an unexpected rate hike by the Reserve Bank. The Australian currency rose 1% when the Reserve Bank of Australia raised its cash target …

Despite concerns about the stability of the US banking sector, Bitcoin bulls are unable to gain traction as BTC prices are close to four-day lows. Bitcoin is trading at $27822 at the time of typing. As the US dollar strengthens ahead of the FOMC, the $28K support level for bitcoin …

Oil prices were down sharply on Monday after the latest manufacturing data showed that the sector contracted for the 5th straight month in April, ending a 30-month period of expansion. Brent crude was down 1.8% to $79.15 per barrel at 11:30 ET, marking the first time it has slipped below …

The US dollar rose in early holiday-affected European trade Monday, kicking off a week that features policy-setting meetings from the Federal Reserve and the European Central Bank, as well as the monthly US employment report. The dollar index, which measures the value of the US currency against a basket of …

The euro fell on Friday after economic data painted a mixed picture on growth and inflation in the euro-zone, adding to uncertainty about the percentage by which the European Central Bank is expected to raise interest rates next week. Preliminary data showed gross domestic product in the euro zone grew …

As traders bet on a rebound following the most recent pullback, WTI oil was able to settle back above the $76 mark. The price of WTI crude oil has increased by +2.70% to $76.78. At $80.14, Brent crude has increased by +2.45%. As news of a lightning strike at the …

On Friday, Dow Jones rallied as it gets closer to record its best month since January. Blue-chip index prices rose by 187 points, or 0.6%. S&P 500 gains were similarly 0.6%. The latest round of technology earnings weighed on investors’ mood, resulting in somewhat moderate gains for the Nasdaq Composite, …

The Personal Consumption Expenditures Price Index declined to 4.2% on a yearly basis in March from 5.1% in February, according to the US Bureau of Economic Analysis. The annual Core PCE Price Index, the Federal Reserve’s preferred gauge of inflation, edged lower to 4.6% from 4.7% in the same period, …

This year, it’s anticipated that the cost of energy, food, and metals will continue to decline. According to a new World Bank research, prices are projected to continue to fall in 2023, but consumers won’t likely experience much respite because commodity costs are still higher than they were before the …