Market Update

Federal Reserve Bank of San Francisco President Mary Daly refrained from commenting on the next possible Federal Reserve policy decision but reiterated that they must be very date-dependent right now. The US Dollar Index clings to small daily gains near 103.30 after these comments.Keys Quotes “Want to see if policy …

According to the findings of the US Federal Reserve’s annual survey entitled “Survey of Household Economics and Decision making,” households reported a decline in financial well-being. The US Dollar Index clings to small daily gains slightly above 103.20 after this report.Key Quotes“Report shows higher prices have negatively affected most households.”“One …

The dollar was generally stable on Monday, with US debt ceiling talks due to restart and Federal Reserve Chair Jerome Powell signalling his preference for a meeting-by-meeting approach to future policy decisions. To begin the week, the dollar was little changed at 137.975 yen, having ended a six-day winning streak …

Oil prices remained stable on Monday as concerns over the US debt ceiling weighed on optimism about demand later in the year, offsetting support from reduced supply from Canada and OPEC+ producers. Brent crude futures were up 17 cents, or 0.2%, to $75.75 a barrel by 1111 GMT, while WTI …

UK house prices hit a new record high in May as the housing market continued to defy pessimistic forecasts at the start of the year, figures showed. Rightmove’s house price index showed the average price of property coming to market jumped by 1.8%, £6,647, to set a new peak of …

European stocks were little changed at the open on Monday, while concerns over an agreement on the US debt ceiling and the outlook for US and European monetary policies weighed on sentiment. The pan-European Stoxx 600 index settled after touching its highest level in more than a year on Friday. …

The Japanese Nikkei index closed higher on Monday, extending its gains for the eighth consecutive session, at a time when investors continue to buy local stocks with discounted prices, amid optimism about companies’ efforts to enhance investor returns. The Nikkei index reversed course, jumping 0.9 percent to 31,086.82 points, its …

After last week’s stalemate, US president Biden on Sunday said he believes he has the authority to use the 14th Amendment to unilaterally address the debt ceiling, but acknowledged potential legal challenges could still lead to default. He said he is looking at the 14th Amendment as to whether or …

Gold climbs 0.89%, trading at $1975.05 per ounce at the time of writing, as the US dollar’s strength subsides, investors are now eyeing the $1980 resistance level.Fed Chair Jerome Powell’s comments and US Treasury Sec. Janet Yellen’s remarks on Friday were sufficient to shake the market, resulting in a significant …

After Republicans boycotted talks with President Biden over raising the debt ceiling, the price of oil reversed gains and fell on Friday. The US Dollar falls as demand for safe-haven assets declines as concerns over the debt ceiling ease; oil is primarily priced in USD. After House Speaker McCarthy left …