Economic Report

Oil prices rose more than 3 percent on Wednesday, offsetting some sharp losses incurred during the previous session, as major producers prepare to discuss how to deal with the threat to fuel demand from the mutated Omicron. Brent crude futures rose $2.46, or 3.6 percent, to $71.69 a barrel by …

The US dollar surged on Tuesday following comments by Fed Chair Jerome Powell, who indicated it would be appropriate to consider wrapping up the bank’s QE taper sooner. Speaking before the Committee on Banking, Housing, and Urban Affairs of the US Senate alongside US Treasury Secretary Janet Yellen, Powell added …

The dollar fell against other major currencies on Tuesday, and the yen rose to near its highest levels in more than two weeks after the CEO of Moderna Pharmaceuticals told the Financial Times that current vaccines against Covid-19 are likely to be less effective against the new mutant Omicron. Markets …

Fears retreated on Monday after panic had dominated financial markets for three days when stocks markets collapsed following the news on a new virus variant known as Omicron. However, the market’s reaction may have been worsened by thin market conditions due to the Thanksgiving holiday in the US.Up till Monday, …

The dollar rose while the euro fell, and the yen stabilized on Monday as markets calmed after the first shock of discovering a new coronavirus mutant. The mutant Omicron, which was first detected in South Africa, caused global concern, as financial markets fell on Friday, amid fears that its appearance …

Financial markets were calm last week due to the Thanksgiving holiday in the United States, and investors were cautious due to the emergence of the new Coronavirus mutant in South Africa and the Uk. Gold During the past week, the safe haven fell due to the growing strength of the …

On Friday, US Treasury yields experienced sharpest drop since the pandemic began as investors rushed toward safe haven assets following the emergence of a new coronavirus variant in South Africa.The two-year Treasury yield, which typically moves in step with interest rate expectations, was down 14.2 basis points at 0.502, the …

GBP/USD has hesitantly bounced from annual lows at 1.3300 ahead of a short market closure for Thanksgiving as markets eye Brexit developments, with French fishermen blockades now expected Friday.While the pair has been under heavy selling pressure recently, it isn’t yet in oversold territory. Ahead of a five-hour market closure …

Wall Street shares reversed earlier losses in choppy trading on Wednesday and U.S. Treasury yields hovered near highs for the year after data suggested the U.S. job market and consumer spending continued to improve.Oil prices were largely steady as investors questioned the effectiveness of a U.S.-led release of oil from …

On Tuesday, the EUR/USD pair is slightly up by 0.14% after moving from a 1.1226 low and reaching as high as 1.1275. However, not much more can be expected on a day where markets are subdued ahead of the Thanksgiving Day holiday Thursday in the US and key data Wednesday. …