Commodities

Wall Street major indices edged lower with the exception of Dow Jones Industrial that was the main winner of Tuesday’s US session. Higher US Treasury yields have impacted heavy-tech company earnings, spurring a selloff of tech stocks. Sector-wise, the main winners are energy, financials, and real-estate, rising 3.06%, 1.24%, and …

The Canadian dollar benefited from the rise in global oil prices, despite the Biden administration’s announcement to release 50 million barrels of US strategic oil reserves in an attempt to tame the sharp rises in fuel prices in the United States.The Canadian dollar rose, pushing the USD/CAD pair down, to …

Oil futures rose sharply Tuesday after the Biden administration announced a coordinated, US-led effort by energy consuming countries to release strategic crude reserves.The coordinated move had been well-telegraphed. News reports speculating on potential releases from the Strategic Petroleum Reserve and talk of a coordinated effort, lately joined by India, and …

The US dollar extended its gains, reaching fresh 2021 highs vs the EUR and the GBP. EUR/USD bottomed for the day at 1.1225, while GBP/USD fell to 1.3341. The sour tone of global indexes and higher government bond yields fueled demand for the safe-haven dollar.Bank of England governor Andrew Bailey …

Canadians high household debt levels are becoming a persistent concern despite the massive fiscal support offered by the federal government during the COVID-19 pandemic according to statements by a senior Bank of Canada official, Tuesday.Deputy Governor Paul Beaudry said the prevalence of highly indebted households, which are defined as those …

Output growth across manufacturing and services measured by the PMI surveys came in slightly faster than expected in November.Solid service sector growth that far exceeded the pre-pandemic long-run average contrasted with only modest production growth in the manufacturing sector.Employment rose for the ninth successive month in November, according to the …

French fishermen are planning actions, including possibly blocking British vessels’ access to French ports, in protest against Britain’s refusal to grant them more licenses to operate in UK territorial waters, fishermen said on Tuesday.France and Britain have been at loggerheads for months over how many licenses French fishermen should get …

Manufacturing activity in the central Atlantic region of the U.S. surged in November at broadly the same pace as in October, according to a survey compiled by the Federal Reserve Bank of Richmond released Tuesday.The Fifth District Survey of Manufacturing Activity’s composite index in November is 11, down from 12 …

Americans await a new address by President Joe Biden on the state of the US economy. Biden’s speech comes as prices soar 6.2% over the past 12 months.54% of Americans say cost of groceries and gas is a major crisis. Biden to release 50m barrels of reserve oil in effort …

US private sector growth remained robust in November, although losing some pace as activity slowed among services providers, according to a survey of purchasing managers.The flash US composite output index decreased to 56.5 in November from 57.6 in October, a two-month low, according to data from IHS Markit released Tuesday. …