Market Update

o On Wednesday, Sweden reportedly overtook France as Europe’s largest net power exporter in the first half of 2022, as deep-rooted problems reduced French nuclear availability to historic lows. France has lost its position as Europe’s biggest exporter of electricity as the nation struggles with extended outages at its nuclear …

Fed’s Neel Kashkari said while he is happier to see inflation surprised to the downside, the Fed is far far far away from declaring victory on inflation. He added that ”this doesn’t change my rate hike path”, and he is expecting 3.9% end of this year 4.4% end of next …

The price of Bitcoin (ETH), the leading cryptocurrency, surged to an intraday high of $24,010 on the Bitstamp exchange at 12:48 a.m. UTC. Ethereum (ETH) and other top altcoins also spiked sharply higher. Crypto markets responded favourably after the slower than expected CPI reading, which takes pressure off the Federal …

According to the Federal Reserve Bank of Atlanta’s GDPNow model, the US economy is expected to grow at an annualized rate of 2.5% in the third quarter, up from 1% in the previous estimate.Atlanta Fed explained in its publication that after recent releases from the US Bureau of Labor Statistics …

Indian companies are moving towards several Asian currencies more often to be able to pay for Russian coal imports, according to customs documents and industry sources. Most companies do avoid the US dollar and cut the risk of breaching Western sanctions against Moscow.One large Indian coal deal involves the Chinese …

Bank of England Chief Economist Huw Pill said on Wednesday that wage growth in the UK is running too fast at present, as reported by Reuters.These comments don’t seem to be having a noticeable impact on the British pound’s performance against its major rivals. As of writing, the GBP/USD pair …

US President Joe Biden said on Wednesday that Americans are seeing some signs that inflation may be moderating. “We could face additional headwinds in the months ahead,” Biden added. “We still have work to do but we’re on track.”Earlier in the day, the data published by the US Bureau of …

US stock indexes opened trading on Wednesday, August 10, with the release of inflation data for the month of July, which came less than expected. At the beginning of the session, the Dow Jones index jumped by 1.36% to 3321.8 points, the Nasdaq rose by 2.22% to 12,768 points, and …

Inflation in the United States, as measured by the Consumer Price Index (CPI), declined to 8.5% on a yearly basis in July from 9.1% in June, the data published by the US Bureau of Labor Statistics revealed on Wednesday. This reading came in lower than the market expectation of 8.7%. …

SoftBank Group Corp on Wednesday said it will book an estimated gain of 4.6 trillion yen ($34.08 billion) on settling prepaid forward contracts using shares in Alibaba Group Holding, reducing its stake to 14.6% from 23.7%. SoftBank on Monday booked a record quarterly net loss due to sliding valuations at …