Market Update

WTI prices gains traction near $78.90 on early Friday trading. The softer US April inflation data, Fed rate cut expectations, and a drop in US crude inventories boost the black gold. The ongoing geopolitical risks in the Middle East might cap the downside of WTI prices. The latest US Consumer …

The US Dollar regained some stability and partially reversed its recent significant decline, especially in response to the US Consumer Price Index (CPI). Meanwhile, Federal Reserve officials expressed caution about inflation and the possibility of future interest rate cuts later this year. USD Index Rebound: The USD Index (DXY) experienced …

Federal Reserve Bank of Atlanta President Raphael Bostic appeared late Thursday alluding towards the possibility of late-2024 rate cuts, but cautioned the need for patience on interest rates.Key Remarks By Bostic I am pleased with inflation progress in April but the Fed is not yet there. The Fed has to …

The Dow Jones Industrial Average soared above 40,000 for the first time ever, marking the beginning of a bull market that began in October 2022. The index had reached the 40,000 mark earlier this year, but a slight April pullback due to high interest rates knocked it back down. The …

On Thursday, Loretta Mester, President of the Federal Reserve Bank of Cleveland, emphasized that maintaining the current levels of Fed policy will aid in returning still-elevated inflation to the 2% target.Key Quotes Current restrictive policy will help lower inflation.Monetary policy well positioned as fed reviews more data.It will take longer …

The number of Jobless Claims increased to almost 1.8 million for this week on Thursday’s data, and this is not exactly encouraging. Yet, the US Dollar Index is 0.32% up, above the 104.60 mark at the time of writing. Following a sharp decline, the dollar is maintaining modest gains on …

In the week ending May 11, the number of Americans filing for first-time unemployment benefits decreased to 222,000. While this was a decline from the upwardly revised figure of 232,000 in the previous week, it was slightly above economists’ expectations, who had forecasted a reading of 219,000.

The U.S. dollar steadied in European trade on Thursday, rebounding slightly after dropping to multi-week lows overnight following a milder-than-expected U.S. inflation report. The Dollar Index, which measures the greenback against a basket of six other currencies, traded 0.1% higher at 104.285, recovering from a five-week low reached just below …

Despite a global rally induced by U.S. inflation data, European stock markets experienced slight declines. The DAX in Germany, the CAC 40 in France, and the FTSE 100 in the U.K. all traded lower, with disappointing corporate earnings contributing to the subdued sentiment. Impact of Earnings Siemens shares dropped nearly …

Oil prices extended gains from the previous session on Thursday on signs of stronger demand in the U.S., where data showed slower inflation than markets expected, bolstering the argument for an interest rate cut that could drive greater consumption. Brent futures rose 32 cents, or 0.4%, to $83.07 a barrel …