Wall Street ended the day at an all-time high as Jerome Powell testified to Congress. In his testimony, the Chair said that the Fed was fully prepared to slash interest rates based on mounting risks to the US economic...
US stocks rose yesterday after a few weeks of turmoil. The gains were broad-based, but technology played an important role in the recovery. The Nasdaq index rose by more than 100 points while the Dow gained by more than...
Yesterday, US stocks made a comeback after seeing large losses earlier in the day. The Dow ended the day down by 67 points, which was better than the 500-point loss earlier on. The recovery came as investors concluded that...
Asian stocks declined as traders start to worry about China’s growth. This is after the country released weak PMI data for April. During the month, the Markit manufacturing PMI declined to 50.1 from the previous 50.5. Traders were expecting...
The Canadian dollar declined after the central bank announced its interest rates decision. As expected, the bank left interest rates unchanged at the 1.75% level. This was the fourth straight month the bank has left rates unchanged. In the...
The price of crude oil rose today after Chevron announced that it will acquire rival Anadarko for $33 billion. This is the biggest purchase in the oil and gas sector since oil prices started to decline in 2014. This...
The price of crude oil rose in overnight trading even after the American Petroleum Institute (API) data showed increased inventories in the United States. Both the West Texas Intermediate (WTI) and Brent reached their highest levels this year. The...
The kiwi dropped sharply in overnight trading after the RBNZ released its third interest rates decision of the year. The bank left rates unchanged at 1.75%, which was expected. Officials also expressed increased worries about the health of the...
CHF and GBP are the top G10 FX gainers today, up 0.16% and 0.13% vs the dollar while AUD and USD are the top losers. The UK unemployment rate fell further unexpectedly (3.9% vs 4.0% expected) providing some support...
The euro remained lower in overnight trading after the ECB monetary policy decision. Yesterday, the bank released its decision, which was aimed at boosting the European economy. In the statement, the bank extended the period at which it will...
