Economic Report

US equities had a surprise reason for celebrating with the first day of the second trading week in the new year. So far, in 2023, Wall Street has swung from sadness to joy.US Stocks are enjoying a robust year beginning after 2022’s disappointing performance. Even though the Dow fell more …

Gold price holds onto latest gains as the rally in Wall Street continues. Monday’s weaker US Dollar offers support to the Gold Index that continues to look forward to $1,880.Strong demand for Treasury bonds as market participants await a less hawkish Fed. Gold prices are holding up and near the …

On Monday, the dollar approached its lowest level in seven months against other major currencies, after data last week showed that the Federal Reserve may slow the pace of decisions to raise interest rates, while the reopening of Chinese borders boosted higher-risk currencies. The yuan in foreign transactions approached its …

The dollar stabilized on Monday after investors digested a batch of economic data released last week that raised hopes that the Federal Reserve would slow the pace of interest rate hikes. Data on Friday showed that non-farm payrolls in the United States increased by 223 thousand jobs in December, while …

Wall Street’s major indices closed higher on Friday, supported by reports that although jobs increased in the United States more than expected, wage increases slowed and services activity contracted, easing concerns about the path of interest rate hikes by the Federal Reserve. The data published by Automatic Data Processing (ADP) …

Kevin McCarthy, the California Republican, is officially the new speaker of the US House after a hot Capitol Hill drama that continued for almost four days and 15 rounds of votes. If the House chaos for electing a new speaker had continued for weeks, the financial markets could have worried …

Friday’s US economic data produced a cascading drop in rates across the Treasury market, pushing the policy-sensitive 2-year and benchmark 10-year yields to their lowest levels of the new year. The 2-year yield which moves in coordination with expectations around the path of Fed’s policy, fell 19.1 basis points to …

The nonfarm payrolls rose by 223,000 jobs in December according to the data announced by the US Labour Department while a 0.3% rise in average earnings was smaller than expected and lower than the previous month.The numbers for November were revised to show nonfarm payrolls rose by 256,000 and average …

WTI managed to trim some of its 9% losses attained during the week and reclaimed the $73.00 mark. Recessionary fears sparked by weak PMI readings in China and the US dampened oil investors’ appetite.The US crude oil benchmark, rebounds around month lows of $72.50 per barrel and climbs above the …

Natural gas futures touched fresh levels in the green territory marking the first gain in 2023, amid estimates for a massive storage withdrawal report. After dropping 48.7 cents on Tuesday, and closing below $4.00, the February Nymex natural gas futures contract on Wednesday gained 18.4 cents day/day and settled at …