Market Update

The US dollar slid on Thursday against major currencies in a choppy US trading session as data continued to indicate that the US economy is slowing down in the wake of multiple rate hikes by the Fed as investors and traders expect the central bank to pause or at least …

The US Treasury Department announced the beginning of “extraordinary measures”, meaning a series of accounting measures, and even maneuvers, to avoid breaching the federal governments’ borrowing cap according to a letter to Congress by Treasury Secretary Janet YellenThe Treasury Department will adopt extraordinary measures to allow the federal government to …

There were 190,000 initial jobless claims in the week ending January 13, data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 205,000 and came in better than the market expectation of 214,000. Further details of the publication revealed that …

The Interfax news agency quoted Russian Deputy Prime Minister Alexander Novak as saying on Thursday that Russian oil production in January did not decline, and that it was proceeding at the same pace as in December.

New Zealand’s prime minister, Jacinda Ardern, has said she is resigning, in an unexpected announcement that came as she confirmed a national election for October. At the party’s first caucus meeting of the year on Thursday, Ardern said she “no longer had enough in the tank” to do the job. …

European stocks were heading on Thursday to halt a series of consecutive gains over six sessions, after lackluster US economic data stoked fears of a global economic slowdown, and investor sentiment was also affected by non-negative European corporate earnings. The pan-European Stoxx 600 index was down 0.6 percent by 0815 …

On Thursday, the Japanese Nikkei index recorded the largest decline in two weeks, retreating from its highest level in a month, with the fading effect of the Bank of Japan’s decision to maintain its stimulus policies, as well as the rise in the yen, which pressured the shares of export …

The US Dollar closed with gains against most major rivals, ON Wednesday, reverting earlier losses when it traded at fresh lows. Global yields fell, initially weighing on the US Dollar, later reflecting risk aversion and rising alongside the dollar.Wall Street started the day with modest gains but ended up collapsing, …

Oil prices fell about 1% on Wednesday, abandoning early gains as worries about a probable US recession outweighed optimism that China’s lifting of COVID-19 curbs will fuel demand for crude in the world’s top oil importer.Brent futures fell 94 cents, or 1.1%, to settle at $84.98 a barrel. U.S. West …

Philadelphia Fed’s Patrick Harker, on Wednesday, said that he is willing for the US central bank to move to a slower pace of interest rate hikes as a reaction to some signals that denote how hot inflation is cooling.“High inflation is a scourge, leading to economic inefficiencies and hurting Americans …