Economic Report

The dollar is set for a fourth consecutive week of gains against its major rivals on Friday, as traders are betting that US interest rates will rise faster than expected amid rising inflation worldwide. The euro was one of the biggest losers against the dollar and is on track to …

The European Central Bank’s President Christine Lagarde is set to deliver a speech Friday, 19 November, amid traders and investors’ speculations that the Eurozone central bank could lag behind Fed and world peers on rate hike decision. Meanwhile, the euro touched its lowest level in 16 months this week as …

The dollar retreated from its highest level in 16 months on Thursday and lost some of its gains against the euro and the Australian and New Zealand dollars, as investors assessed the latest rally in the US currency and whether it is starting to decline. The dollar rose in the …

Gold has ended Wednesday’s US trading session with the highest daily gains in a week. Gold price has edged around $1,867.Gold got the opportunity to cheer US Treasury yields’ heavy pullback that impacted the US Dollar Index (DXY) amid the absence of major catalysts and ongoing inflation.Gold is buyers’ favourite …

President Joe Biden, Wednesday is planning to tour a General Motors plant in Detroit, Wednesday, as he continues to sell the benefits of the recently signed $1 trillion infrastructure law. Biden is expected to highlight $7.5 billion in the new law automobile technology.Biden on Wednesday will visit a General Motors …

The dollar traded higher on Wednesday, benefiting from the strong retail sales during the previous session, while the Pound rallied after the release of sharp inflation that signaled a December rate hike from the Bank of England. The dollar index, which measures the greenback against a basket of six other …

One of US President Joe Biden’s toughest challenges is maneuvering America’s relationship with its biggest economic enemy; namely China. when Biden holds a virtual summit with Chinese counterpart Xi Jinping later on Monday, issues such as tariffs, supply chain bottlenecks, subsidies, Chinese property sector debt crisis and the global energy …

US shares reaped fresh gains on Tuesday, with investors and traders digesting key economic data on the state of the consumer after two major retailers topped quarterly corporate earnings results. The S&P 500 rose 0.3% as of 10:15 a.m. Eastern. The Dow Jones Industrial Average rose 158 points, or 0.5%, …

The dollar rose in trading on Tuesday, ahead of the release of key retail sales data, while the Chinese yuan benefited largely from a friendly dialogue between the presidents of the United States and China during a virtual meeting. The dollar index, which measures the greenback against a basket of …

The dollar was lower on Monday, retreating from a 16-month high, as traders looked for fresh clues about the Federal Reserve’s thinking about the timing of an interest rate hike. The dollar index, which measures the greenback against a basket of six other currencies, was down 0.1% at 95.073, retreating …