NEW YORK: Oil prices jumped 2% on Friday after three days of losses, driven higher as a storm formed in the Gulf of Mexico, but were on track for a weekly fall as investors braced for the return of Iranian crude supplies after officials said Iran and world powers made progress a nuclear deal. Brent
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The minutes for the FOMC meeting in April revealed that policymakers discussed about QE tapering. This came in as a surprise to the market, sending USD higher and Treasury lower. Both the policy statement and the press conference of the April meeting downplayed the need of QE tapering. Recall that at the press conference, Chair
Daniel Acker | Bloomberg | Getty Images Sales of existing homes dropped 2.7% in April from March to a seasonally adjusted, annualized rate of 5.85 million units, according to the National Association of Realtors. It was the third straight month of declines, the group said. Sales were 33.9% higher than April of 2020, but that
In this article HD LOW A customer pushes a shopping cart towards the entrance of a Lowe’s store in Concord, California, on Tuesday, Feb. 23, 2021. David Paul Morris | Bloomberg | Getty Images Lowe’s reported Wednesday that consumers are continuing to invest in their homes in the first quarter and it saw sales pick
GBP/USD drops toward 1.4150 as the US dollar strengthens on economic data Cable retreats from monthly highs, turns negative for the day. US dollar rises across the board supported by US economic data. The GBP/USD dropped to 1.4153 amid a rally of the US dollar across the board. Cable retreated sharply after hitting at 1.4233
In May, South Korean tech giant Samsung (OTC:SSNLF) filed for a patent titled “Programmable Blockchain Solid State Drive and Switch.” Although details about the recently designed system are scanty, a lot of people in the sector are already pointing out the significance of this technology. It appears like most corporations are also following the trend,
UK FTSE 100 lower on the week The European major indices are ending the day mostly higher. The snapshot of the provisional closes are showing: German DAX, +0.4% France’s CAC, +0.7% UK FTSE 100 , flat Spain’s Ibex, +0.8% Italy’s FTSE MIB, +1.0% For the week, the UK FTSE 100 felt modestly. The other major indices were higher: German DAX, +0.14% France’s
Press Sec. Psaki Pres. Biden meeting this afternoon with GOP on infrastructure Put forth a reasonable counteroffer WH offered a counter proposal on infrastructure from $2.25 trillion to $1.7 trillion Counteroffer reflects the view that Republican offer excludes proposals that are key to US growth Pres. Biden remains opposed to gas tax, user fees, raising taxes on
LONDON: Oil prices rose sharply on Friday after three days of losses, but were on track for a weekly fall as investors braced for the return of Iranian crude supplies after officials said Iran and world powers made progress a nuclear deal. Brent crude futures rose $1.25, or 1.9%, to $66.36 a barrel by 1351
Canadian Dollar rises in early US session after stronger than expected retail sales data. Sterling is also firm after strong PMIs. But Euro had little reaction to the solid PMI data. Instead, the common currency seems to be reacting to ECB President Christine Lagarde’s comment that accommodative policies remain necessary for months to come. Euro
Lisa Cook, associate professor at the Michigan State University, arrives for dinner during the Jackson Hole economic symposium, sponsored by the Federal Reserve Bank of Kansas City, in Moran, Wyoming, on Thursday, Aug. 23, 2018. David Paul Morris | Bloomberg | Getty Images The Democratic chairman of the Senate Banking Committee sees economist Lisa Cook,
In this article LB Shoppers pass in front of a Victoria’s Secret store at a mall in San Diego, California, April 22, 2021. Bing Guan | Bloomberg | Getty Images Victoria’s Secret parent L Brands on Wednesday reported first-quarter earnings and sales that topped analysts’ estimates, driven by momentum across its business and more people
USD/JPY continues to edge higher in the American session. US Dollar Index remains on track to close above 90.00. Several Fed policymakers voice concerns over rising inflation. The USD/JPY pair gained traction during the American trading hours and rose to a fresh daily high of 109.00. As of writing, the pair was up 0.2% on
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Nasdaq and S&P still remains lower on the month The major US indices are closing higher with the NASDAQ leading the charge. All three major indices snapped three days losing streaks The Dow and S&P are on track for a weekly loss NASDAQ is higher for the week and looking to close higher for the first time in