US President Joe Biden, in a national address on Tuesday, called the latest steps by Russia to recognize the independence of breakaway regions in eastern Ukraine, as well as to move troops into the area, the beginning of a Russian invasion of Ukraine.Biden’s speech comes amid calls by Lawmakers across …
Read More »Fed Minutes: Directors at 3 Fed banks voted to increase discount rate Before Jan meeting
Directors at three of the Federal Reserves regional banks voted to increase the discount rate, or interest rate charged on commercial banks for emergency loans, ahead of the January FOMC meeting.Minutes released on Tuesday showed that rate hike recommendation came from the directors at the Federal Reserve banks of Cleveland, …
Read More »Gold is Falling But Remains Near Its Highest Levels
The price of gold retreated from its highest level since June on Tuesday, but the escalation of tension in eastern Europe could keep the demand for it driven as a safe haven. And gold fell in spot transactions 0.5% to $ 1895.76 an ounce, after hitting its highest level since …
Read More »Yen Rises On Geopolitical Tensions
The USD/JPY pair is holding onto daily losses and trading under 115.00 on Monday’s American session. The pair bottomed at 114.79, slightly above last week low. The dollars ix mixed while the yen is mostly higher across the board.The Japanese yen is among the top performers on Monday, rising at …
Read More »Gold Falls Back Under $1,900 On Biden-Putin Agreement To Kickoff Talks
Gold hit fresh multi-month highs near the $1,910 on Monday but has since dropped back under the $1,900 handle. Geopolitics remains the wildcard that could stoke surprise volatility in either a bullish or bearish direction. The Russian ruble has been coming under significant pressure on Monday, indicative of rising fears …
Read More »Oil Traded At USD 91.07, Drilling Rigs Surge For Fourth Week
Baker Hughes on Friday reported that the number of active US rigs drilling for oil was up by four to 520 this week. That followed a climb of 19 oil rigs the week before, Baker Hughes data show. The total active US rig count, which includes those drilling for natural …
Read More »Ukraine’s Foreign Minister: Fire from a tank recorded in Eastern Ukraine
Ukraine’s Foreign Minister Kubela Dmytro said on Thursday that fire from a tank had been recorded in Eastern Ukraine. This development comes after mortar fire and shelling throughout Thursday morning that was only reported to have stopped at 1:00 p.m. local time. As for the market’s reaction, the latest round …
Read More »Market Drivers – US Session – 15 February
The market mood improved on Tuesday as market players rushed to price in a de-escalation of the Russia-Ukraine tensions after the Russian Minister of Defense announced that some of the troops at the border would return to their bases.Nevertheless, comments from Russian President Vladimir Putin released during the American afternoon …
Read More »Biden Defending Ukraine could cause US economy pain
President Joe Biden on Tuesday acknowledged the likelihood that US and allied sanctions on Russia in retaliation for an invasion of Ukraine would have significant blowback on the American economy, including possible price hikes and disruption to the nation’s energy supply.“The American people understand that defending democracy and liberty is …
Read More »Senator Toomey: Senate shouldn’t proceed with vote on Fed nominee Raskin
Republican Senator Pat Toomey said on Tuesday that the Senate Banking Committee should not proceed with a vote on Fed nominee Sarah Bloom Raskin unless she answers questions on the Reserve Trust.“We’ve asked basic questions and she’s refused to provide answers” he said. Toomey added that if Senate Banking Committee …
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