The US dollar closed with gains against most major rival currencies, although price action was choppy across the market. Economic DataThe US dollar rallied after the release of CPI data at 8.3%, higher than the estimates. The monthly figure was up 0.3% against the 0.2% expected. Finally, the annual core …
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The West Texas Intermediate (WTI) for June delivery has added 1.51 US dollars to briefly touch USD 109.77 per barrel on the New York Mercantile Exchange, later in the day the American crude oil settled at USD 105.71. Oil closed with strong gains on Wednesday, reversing a prior-session selloff after …
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The White House’s website published a statement by US President Joe Biden, commenting on the CPI data released earlier on Wednesday. On Tuesday, in a proactive manner, Biden gave a speech on the US economic outlook, blaming high inflation on COVID-19 pandemic disruptions to the economy as well as the …
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The gold price is some 0.8% higher and correcting from daily support located in the lows of the day at $1,832.07. At $1,853.40, gold is close to the day’s highs of $1,858.30. The markets are still focusing on Wednesday’s US inflation data as the Consumer Price Index was released earlier …
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Hot inflation pressures from excessive US fiscal and monetary policy responses to the 2020 COVID crisis supported commodity markets early in Q1. Moreover, Ukraine and Russia, together, represent a veritable commodity superstore, providing critical commodities to the world.Roll yields became positive across the commodity complex for the first time in …
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Oil prices rose on Wednesday after falling nearly 10 percent in the previous two sessions, buoyed by supply concerns, as the European Union works to rally support for a Russian oil embargo and as Russian gas supplies to Europe halted through a major transit point in Ukraine. The European Union …
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Germany and the US will publish their latest inflation figures on Wednesday. German CPI is expected to be confirmed at 7.4% YoY, while the US reading is foreseen at 8.1%. An in-line or lower than anticipated reading may boost optimism, to the benefit of equities and to the detriment of …
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The American WTI crude oil prices dropped to a fortnight low after weekly private oil inventory data had been released on Tuesday, before bouncing around $98.00 during the initial Asian session on Wednesday. The energy benchmark’s latest rebound to $98.40, however, remains doubtful amid sour market sentiment and uncertainty just …
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The USD/CAD pair has renewed its fresh high in the year at 1.3052. the pair is attempting to balance above the 1.3000 psychological resistance. USD/CAD also managed to continue its winning streak by positive performance on Tuesday.USD/CAD is likely to further advance amid uncertainty over the release of the US …
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US President Joe Biden declared that fighting inflation is his top priority adding that he understands Americans’ frustration over high prices.The Washington Post reported that ”Biden used a speech from the White House to address an issue that has become a major political liability for him. At the same time, …
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