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US Fed raises interest rates 75 basis points for 3rd straight time This Wednesday, US Federal Reserve made an announcement for raising its interest rate by 75 basis points 3rd time consecutively, aiming to fight the growing inflation. FOMC (Federal Open Market Committee) decided to raise the target for the federal funds to 3-3.25% range. […]
Oil Prices Increase as Reopening of China helps Demand The price of oil began this week in a strong tone because the removal of COVID lockdowns in the big city of China increased optimism for the recovery of demand in the largest crude oil importer in the world. Chengdu-The Chinese megacity – which was the […]
U.S. Treasury Secretary Janet Yellen said on Sunday that Americans could have cold gas prices after the European Union cut back on Russian oil purchases, adding that Western pricing plans on Russian oil exports were designed to control prices. When the question asked by CNN reporter, here is what she answers! It seems that she is letting the people know about yellen oil prices expected to spike in winter. Q. You talked about gas […]
Gold Benefits After US Labor Numbers Relieve Pressure on Fed Gold increased after the American job report has shown that more Americans returning to the job market, a welcome sign for the Federal Reserve when it is fighting to bring down inflation. American employers added a healthy number of jobs in August and a constant […]
Gold prices dropped and reached a 1-Month low on Monday as hawkish Fed worries. On the other side copper price also fell due to the weak industrial data from China. The price of spot gold dropped 0.7% to $ 1,726.06 per ounce, while gold futures fell 0.7% to $ 1,727.50 per ounce by22:20 ET (02:20 […]
OIL PRICES INCREASE ON SIGNALS OPEC MIGHT CUT OUTPUT Oil prices closed with gains on Friday, driven by a signal from Saudi Arabia that OPEC could cut output, but trading was unstable when investors digested and eventually ignore warnings from the Head of the US Federal Reserve regarding economic pain ahead. Brent crude futures contracts […]
Wall Street closed positive on Wednesday, lifted by gains in energy shares and Intuit whereas all eyes on Jackson Hole conference from the US Federal Reserve this week. Increasing Nasdaq Tech-Heavy, Intuit Inc. (NASDAQ: INTU) collects almost 4% after accounting software makers estimate upbeat 2023 fiscal revenue. After Bell, Salesforce (Nyse: CRM) Inc. fell 5.5% […]
Wall Street closes down on Tuesday as investors predict on data showing a slow economy ahead of a gathering of the US Federal Reserve later this week in Jackson Hole, Wyoming. The S&P 500 fell after the data showed that private sector business activities in the United States were contracted for the second month in […]
Fed rate hike process may get breather as inflation data showed some positive results The chances of the US Federal Reserve increasing interest rates 75 basis points in September dropped to 37% on Wednesday when consumer inflation data slowed. The probability of an increase in the basic point rate of 75 points was 68% Tuesday […]
According to a survey issued by the Federal Reserve Bank of New York on Monday, US inflation is expected to fall to the lowest level since February. The median expectation of one-year inflation dropped 0.6 percentage points to 6.2% in July, compared to 6.8% in June, the survey said. Three-year inflation expectations fell 0.4 points […]