The International Energy Agency said on Wednesday that global oil demand is rising slowly, but is about to receive a significant boost, thanks to the resumption of air traffic and the resumption of economic activities in China after the lifting of restrictions related to Covid-19. “Global oil demand growth started …
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The SVB collapse drove US stock markets to monthly lows. The Nasdaq managed to recover and gained 0.45%, while the Dow Jones lost 0.28% and the S&P 500 fell by 0.15%. The VIX rose 6% after pulling back during the second half of the US trading session. Crude Oil prices …
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US President Joe Biden unveiled his proposed budget for 2024. It contains a strategy to reduce the fiscal deficit by $3 trillion over the following ten years as well as greater taxes on the rich and big businesses.By raising taxes on oil and gas firms, increasing the corporate tax rate …
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The US dollar began the new trading week extending positive performance although demand for the US currency diminished ahead of the US session’s opening, following a mixed United States Durable Goods Orders report. Later on the day, the dollar Index fell 0.52% to 104.725, reversing gains from last Friday driven …
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Fed Vice Chair Lael Brainard’s departure to the White House stimulated speculation over who will replace her as all policymakers weigh how much further to raise interest rates.Fed watchers wasted no time in coming up with some names of their own after Brainard’s name surfaced last month as a major …
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US President Biden confirmed that relations with China have not taken a big hit. “We intend to compete completely with China but we are not seeking conflict, as that has been the case so far,” Biden said during a PBS interview late Wednesday.Biden’s comments join the recent statements from US …
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The US dollar extended its February rally throughout the first half of the day, but turned negative during the US trading session to end the day mixed, as Fed’s Jerome Powell participated in a moderated discussion at the Economic Club, Washington DC.Key DevelopmentsIn his first State of the Union address …
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Gold price remains on its direct way to snap two-week uptrend. The US data reinforce the dollar’s recovery but firmer sentiment is sufficient to keep gold buyers hopeful.US Gross Domestic Product is expected to confirm initial forecasts for Q3, suggesting further uptrend for the Gold Index, meanwhile, the several news …
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US President Joe Biden cautioned on Friday that ““it’s going to take time to get inflation back down to normal levels.”, but he assured that legislation he signed earlier this year will help limit costs for health care and energy. However, he said that “in six short weeks, Americans are …
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US President Joe Biden cautioned on Friday that ““it’s going to take time to get inflation back down to normal levels.”, but he assured that legislation he signed earlier this year will help limit costs for health care and energy.However, he said that “in six short weeks, Americans are going …
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