Economic Report

Wall Street US stocks closed significantly lower in a broad sell-off Friday, September 17, at the end of a week a busy week with economic data, fears of an increase in corporate taxes, the mutated delta strain of the Coronavirus, and possible shifts in the schedule for the US Federal …

Baker Hughes, Friday, reported that the number of active U.S. drilling oil rigs rose by eight at 373 this week. The report signals a second successive weekly rise as last week, the oil rig count rose by six so, the total active U.S. rig count, including rigs drilling for natural …

Consumer sentiment in the United States has recorded a modest improvement in September after sharply falling in August, according to a preliminary report released by the University of Michigan on Friday.The report said the consumer sentiment index inched up by 71.0 in September from 70.3 in August, below economists’ expectations …

The dollar settled near three-week highs on Friday, September 17, after better-than-expected US retail sales data boosted bets on the strength of the US economy and the prospects of abandoning its stimulus program sooner than expected. The euro rebounded, recording $1.1783, but it remains close to a three-week low. US …

The dollar moved near the middle of its trading range over the past month against major currencies on Thursday, September 16th, as traders look to the Federal Reserve meeting next week, in search of indications of when the US central bank will begin to taper. The dollar index, which measures …

The dollar settled below a two-and-a-half-week high on Tuesday, September 14th, hit in the previous session, as investors braced for inflation data that may provide indications of the timing of the US Federal Reserve’s policy tightening at its meeting next week. Ahead of the US central bank’s policy review scheduled …

The dollar started a data-packed week on the rise, with the immediate focus shifting to US inflation data, but investors are also concerned that the US Federal Reserve is preparing to exit its hyper-supportive stance even as COVID-19 infections rise. The dollar rose in Asian trading after recording its best …

The US dollar ended the week with gains, following the fear of dominating of the faltering economic recovery. The US dollar index, which measures the strength of the US currency against a basket of major currencies, rose to 92.64, the index fell to its lowest level in last week’s trading …

The European Central Bank came out on Thursday as markets had expected. The bank decided to slow down in bond purchases and raised the inflation forecast. Policymakers emphasized that the change is not “Tapering” as the change will be on the PEPP, not APP as the bank strengthens its growth …

The dollar fell as growth-linked currencies rose after the Chinese yuan climbed to a one-week high on news that US President Joe Biden and Chinese leader Xi Jinping spoke for the first time in seven months. The White House said in a statement that Biden and Xi had a “broad …