Economic Report

The dollar index resumed its rise today, Wednesday, after it recorded the largest daily decline in more than two years, pending the release of many economic data ahead of the monthly jobs report expected at the end of this week. The impact of the dollar’s rise – which has risen …

European Union member states have agreed to cap the price of Russian oil as they seek to cut Kremlin revenues and punish Vladimir Putin for the Ukraine war. Ambassadors from 27 countries on Wednesday signed off on the proposed cap on the price of crude shipped to countries outside the …

Oil has jumped by nearly $3 a barrel on Tuesday on expectations that Wednesday’s OPEC+ meeting could decide a large cut in crude output as the retreating US dollar made oil purchases cheaper.OPEC+ will consider output cut on Wednesday’s meeting. The move could put supply under pressure while the energy …

The dollar fell on Tuesday as US Treasury yields stopped rising after a wave of increases, which provided an opportunity for stock markets and helped the euro and pound to catch a breath and recover from multi-year lows. The Australian dollar was also eye-catching, as it fell by about one …

In a striking twist of incidents, the UK government announced on Monday a U-turn of its latest expensive and unfunded tax cut policy. After the Bank of England’s intervention last week to calm the bond market, the British pound rallied and was able to consolidate for a while.While the Prime …

The pound rose on Monday after Britain announced a plan to scrap the country’s highest income tax rate, while the yen slipped from the 145 level against the dollar. And sterling touched $ 1,128, after media reports that the plan was reversed, the highest rate of the currency since September …

The dollar fell last week, as commodity bulls took some breathing; However, this decline was short-lived, as the dollar jumped again to its highest level in 20 years. The dollar’s rise to a high of 112 from a one-week low came, moving back towards levels not seen since May 2002, …

The Fed’s Vice Chair Lael Brainard, on Friday, stressed that any rate cut would be premature. Brainard added her full support of US central bank’s higher for longer plan for interest rates to combat inflation that new data shows is still at more than three times as much as the …

The euro and the British pound rose to a one-week high on Friday, bolstered by moves from the Bank of England to reassure the markets and indications that the European Central Bank is tightening monetary policy as foreign exchange markets regained some calm at the end of a volatile week. …

Intense market volatility in the UK escalated recession risks and global contagion fears. The gold market is one clear example, as it is cautiously observing the developments as prices rise from 2.5-year lows.UK market’s decline continues one day after the BoE intervened in the gilt market via an emergency bond-buying …