Economic Report

The US dollar reached its highest level this year on Wednesday after rallying as US Treasury yields increased on investor fears that the Federal Reserve could begin withdrawing its policy support at a time when global growth is slowing. The euro fell to $1.1657, its lowest level from November 2020, …

The sharp lows on Tuesday of Wall Street stocks is deepening concerns over persistent inflation and price hikes, as debt ceiling negotiations continue in Washington.All three major U.S. stock indexes slid by nearly 2% or even more, with interest rate sensitive tech and tech adjacent stocks while investors lost risk …

The US dollar advanced for the third day in a row on Tuesday, boosted by a rise in Treasury yields ahead of a large number of Fed speakers this week who may confirm expectations to start reducing asset purchases before the end of the year, and the benchmark US 10-year …

The Federal Reserve left rates unchanged after the end of the monthly meeting of the FOMC and stated that if progress in the economy continues as expected, we may see the start of reducing purchases sooner, as some members of the committee indicated that interest rates may rise soon after …

Baker Hughes has reported that for the current week ending on 24 September, the US rotary rig count increased by nine to 521 rigs.The Canadian rig count is now up by 91 rigs compared to the same week a year ago.The overall rig count is now up by 260 rigs …

Sales of new U.S. single-family homes increased for a second straight month in August, but demand for housing has probably peaked after a COVID-19 pandemic-fueled temporary buying frenzy.Sales increased in August even as sales of existing homes fell. It could be a sign that buyers are turning to newly constructed …

The US dollar retreated Thursday, September 23rd from its highest level in a month, which is reached after the US Federal Reserve paved the way for raising interest rates next year, and improving sentiment in global markets encouraged dealers to sell the dollar. The Fed also signaled a tendency to …

The Bank of England will hold a monetary policy meeting and will announce its decision on Thursday, September 23rd; markets are widely expecting the central bank to keep the key rate unchanged at 0.1%. The Bank of England expanded its Asset Purchase Facility to £875 billion between March and November …

The dollar rose in early European trading on Wednesday, but moves were set before the conclusion of a crucial Federal Reserve meeting later in the session. The dollar index, which measures the greenback against a basket of six other currencies, was up 0.1% at 93.255, away from Tuesday’s high of …

The Paris-based Organization of Economic Cooperation and Development said, Tuesday, that the U.S. economy is losing drive on its path to recovery from the coronavirus pandemic.OECD forecast that gross domestic product would grow 6% in 2021, down nearly 1 percentage point from last May. The OECD previously predicted GDP would …