Economic Report

The dollar rose broadly on Thursday, September 1st, especially against the yen, as investors geared up to get higher interest rates in the US, while not expecting Japanese rates to move. The dollar hit a 24-year high of 139.69 against the yen in early Asian trade, up 0.5% from yesterday’s …

As August comes to an end, and markets get prepared for September, historically the worst month for some financial assets, the US dollar is under some pressure at month end and ahead of the critical US Non Farm Payrolls data, but globally speaking, the focus is still on the expectations …

The euro slipped back below par against the dollar on Wednesday. They extended its decline for the third consecutive month as the deepening energy crisis fuels recession fears, while the European Central Bank pushes ahead with interest rate hikes. Russia on Wednesday halted gas supplies from the Nord Stream 1 …

Despite the US dollar’s strength, on Tuesday, the EUR/USD pair advances underpinned by ECB’s Governing Council members expressing the need for a 75 bps rate hike in September. US Consumer Confidence surprisingly surged, while job vacancies topped expectations.The ECB speakers were led by ECB Knot, who said he’s leaning towards …

Gold price is bending below the European highs of $1,745.55. The precious metal is now losing 0.10% at the time of writing while the US dollar firms again, basing itself on a key measure versus a basket of rival currencies. Gold trades heavy in a bearish territory with potential demand …

The US dollar rose to its highest level in 20 years against other major currencies on Monday after Federal Reserve Chairman Jerome Powell indicated that interest rates will remain high for a longer period in order to rein in spiraling inflation. The dollar index, which measures the value of the …

Oil prices rose 1 percent on Monday as expectations that OPEC will cut production if needed to support prices, conflict in Libya and increased demand amid rising natural gas prices in Europe helped offset bleak growth prospects in the United States. The US light NYMEX crude rose during these moments …

Crude oil was the winner of the week on signs of improving fuel demand, so oil surpassed the performance of all other assets, although some market expectations actually occurred during the past week and some other expectations did not.Energy PricesAfter starting the week near the previous week’s lows, oil attempted …

Cryptocurrencies and stocks both pushed lower following Fed Chair Jerome Powell’s speech today. Both cryptocurrencies and major stock indexes lost value this morning, as global market participants responded to the hawkish language that Federal Reserve Chair Jerome Powell used in his keynote speech at the Jackson Hole Economic Symposium.The price …

Royal Mail has said it is relying on a skeleton staff to deliver only “essential items” after 115,000 postal workers went on strike in year’s biggest industrial action so far. The 500-year-old postal service’s employees are striking on Friday, Wednesday next week and 8 and 9 September in a dispute …