Market Update

US equities were mixed throughout Friday but eventually closed higher for the week after a streak of up and down days on Wall Street as investors digest the path ahead for the US central bank’s interest rate hikes and a host of new sanctions imposed by Western nations against Russia.The …

The Canadian dollar gains against the USD. It was trading 0.4% higher at 1.2477 to the USD, or 80.15 US cents, after touching its strongest intraday level since Jan. 20 at 1.2471. It was the ninth consecutive day of gains for the Canadian currency, which is the longest winning streak …

Baker Hughes on Friday reported that the number of active US rigs drilling for oil was up by seven to 531 this week. That followed a decline of three oil rigs the week before, Baker Hughes data show. The total active US rig count, which includes those drilling for natural …

The US dollar climbed against its most major counterparts in the New York session on Friday, as US treasury yields rose amid growing expectations that the Federal Reserve will tighten monetary policy aggressively to curb high inflation.The benchmark yield on the 10-year treasury note spiked up to 2.462 percent. Yields …

The Bank of Canada is “prepared to act forcefully” to return inflation to its 2.0% target, said Deputy Governor Sharon Kozicki on Friday. Key Quotes:“It’s important to be clear that returning inflation to the 2% target is our primary focus and unwavering commitment.”“The pace and size of rate hikes and …

Gold (XAU/USD) prices have seen indecisive, two-way price action in recent trade, swinging between the mid-$1940s and $1960s. A sharp rally in US yields to fresh multi-year highs to reflect an upping of hawkish Fed bets as market participants reacted to a chorus of major US banks issues hawkish new …

US central bank policymakers have made it clear that they will do what it takes to control inflation. They are betting on a soft landing, but a bumpy one is still a risk.Jerome Powell, the Federal Reserve chair, emphasized this week that the central bank he leads could succeed in …

Consumer Sentiment remained largely unchanged in late March at the same diminished level recorded at mid month. Inflation has been the primary cause of rising pessimism, with an expected year-ahead inflation rate at 5.4%, the highest since November 1981. Inflation was mentioned throughout the survey, whether the questions referred to …

A Saudi Aramco oil facility located in Jeddah, Saudi Arabia, was hit by a missile launched by Yemen’s rebel Houthi militia on Friday, reports on social media suggested. A Yemeni Houthi spokesperson later said that the group would be announcing more details on a wide operation in Saudi Arabia later …

Russia’s foreign ministry said on Thursday that NATO is reaping terrible results from the decision to pump Ukraine with weapons, Reuters reported citing RIA news agency.These comments do not seem to be having a noticeable impact on the market mood. As of writing, the US Dollar Index was up 0.2% …