Market Update

Oil prices rose on Friday on optimism that the Federal Reserve will end the monetary tightening cycle, boosting the economy and supporting fuel demand. By 0113 GMT, Brent crude futures for March delivery rose 48 cents, or 0.6 percent, to $86.64 a barrel, while US crude prices increased 54 cents …

The US Dollar exhibited negative performance on Thursday, as the gloomy mood that ruled financial markets eased later on the day, but most European and US indexes closed in the red territory.Hawkish comments from ECB and US Fed’s policymakers suggested central banks are far from done with their quantitative tightening …

The Canadian dollar strengthened against American currency on Thursday. The CAD was able to recover from a nearly two-week low, but the move was limited as global equity markets lost ground and domestic data showed wholesale trade in November rose less than expected.Canadian wholesale trade increased by 0.5% in November …

New Zealand Prime Minister Jacinda Ardern announced her term would end by February 7. She does not have “the energy” necessary for reelection for office on October 14. A new leader will be voted in a few days. The announcement had little impact on the NZD.The NZD/USD pair is trading …

Fed’s Vice Chair Lael Brainard said that ”there are reasons to think high inflation in the more labour sensitive “core services ex-housing” basket might reflect the pass-through of pandemic and war one-offs and not solely cyclical strength from tight labour markets.“Inflation has been declining over the past several months against …

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. …