The world’s largest economy is grappling with rising inflation levels. Per the latest Labour Department report, the Consumer Price Index (CPI) jumped 8.5% year over year in March, reaching the highest level since December 1981. The reading also surpassed the already high Dow Jones estimate of 8.4%. The high inflation …
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The EUR/USD pair recovered from an intraday low of 1.0810, currently trading at around 1.0825 after flirting with the year low. The dollar benefited from hawkish Federal Reserve speakers and overall keeps advancing in a risk-averse environment. After Russian President Vladimir Putin claimed that talks with Ukraine are at a …
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Fed board of governor’s member Christopher Waller said on Wednesday that he supports a 50-bps rate hike at the upcoming May Fed meeting, and possibly more hikes of the same margin at the June and July meetings.It is completely feasible to avert a recession. Data supports 50bps rate hikes – …
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Gold holds in fresh bull-cycle highs in the midday New York session. The Gold Price is being supported amid continued demand for inflation protection in wake of the latest CPI/PPI data. Geopolitical tensions also remain higher and the prospects of Russo-Ukraine peace remain poor, underpinning the Gold Index.Gold price has …
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Bank’s first-quarter profit fell 42% as it socked away funds to prepare for higher defaults in case of recession. JPMorgan Chase is the first major US bank to report its results for the first quarter. JPMorgan Chase & Co.’s pandemic boom ended with a sharp drop in profits and a …
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US Treasury Secretary Janet Yellen said on Wednesday that it will be “a long time, if ever” before the US dollar is replaced as the key currency for the global economy. The impact of sanctions on Russia show the importance of the US dollar and euro, as well the US’ …
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The Bank of Canada announced on Wednesday that it had increased benchmark interest rates by 50 bps to 1.00% from 0.50%, as widely expected by analysts. The central bank also announced plans to begin reducing the size of its balance sheet, also known as Quantitative Tightening (QT), from 25 April, given …
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The Bank of Canada (BoC) is scheduled to announce its monetary policy decision this Wednesday at 14:00 GMT. The Canadian central bank is widely expected to hike its benchmark interest rate by 50 bps for the first time since May 2000 and announce quantitative tightening (QT) to control spiralling inflation. …
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The EUR/USD pair crawls towards 1.08 with little help coming from the European Central Bank (ECB) tomorrow. Economists at Scotiabank expert the world’s most popular currency pair to sustain further losses on unchanged guidance from the ECB.On the French elections front, early runoff polls show Macron defeating Le Pen. With …
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Gold prices rose on Wednesday after fears of an escalation of the conflict between Russia and Ukraine boosted demand for safe-havens, including the precious metal, but gains were limited by the rise of the dollar. Spot transactions rose 0.2 percent to $ 1969.76 an ounce, after hitting a one-month high …
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