Market Update

US Treasury Secretary Janet Yellen on Friday took steps back from earlier speculation that G7 nations are pondering a $60 per barrel price cap on Russian oil. Yellen also noted that leader have not taken any decision in this regard as well.Under the G7 plan, Russian crude oil that is …

The GBP/USD pair falls below 1.1200 due to political row in the UK. At the time of writing, the GBP/USD is trading at 1.1177, below its opening price, after hitting a daily high of 1.1366. The British pound extends its loss amid two weeks of chaos around Liz Truss’s mini-budget, …

The dollar could continue rallying until the end of the global economic slowdown and growth starts to accelerate again, according to Citigroup Global Markets Inc. Until this happens, the dollar is the now obvious safest haven, as it offers a yield premium over its global rivals and peers. “What we …

Oil prices fell more than 3% on Friday as global recession fears and weak oil demand, especially in China, balanced support from a large cut of supply target by the OPEC+ alliance.Brent crude futures dropped to settle at $92.39 a barrel versus the opening level at $95.295, while US crude, …

The EUR/USD pair has erased Thursday’s gains, losing 0.53% on Friday. US Consumer Sentiment improved, though Retail Sales slowed down.The EUR/USD daily chart illustrates the major stalled at the 20-day EMA, which exacerbated a fall towards the 0.9720 area. Key support lies at 0.9700, which, once cleared, could open the …

In an unambiguous retreat, British Premier Liz Truss, on Friday, fired her finance minister and partly reversed the tax plan, she previously supported, because the said plan rattled global financial markets, and incited investors’ concerns and fueled a political crisis that still threatens the political future of Liz Truss herself. …

Stocks retreated on Friday, and generally gave up earlier gains during the session one day after posting a historic turnaround rally as investors digested inflation expectations.The Dow Jones Industrial Average fell 283 points, or 0.94%. The S&P 500 shed 1.82%, and the Nasdaq Composite slipped 2.32%.Stocks fell to session lows …

A regular survey ahead of the quarterly refunding announcements was used by the US Treasury Department in order to ask major banks whether the government should buy back government bonds to improve the market liquidity.“The Treasury is also querying whether reduced volatility in the issuance of Treasury bills as a …

In an interview with Yahoo Finance on Friday, San Francisco Fed President Mary Daly said that this week’s Consumer Price Index data was not so surprising, noting that it’s a lagging indicator.The US Dollar Index was seen rising 0.55% on the day at 112.87 after these comments.Key Quotes“Today’s retail sales …

The data published by the US Census Bureau showed on Friday that Retail Sales in the US, adjusted for seasonal variation, holiday and trading-day differences but not for price changes, stayed virtually unchanged at $684 billion in September. This reading followed August’s increase of 0.4% and came in below the …