News

On Wednesday, European shares declined as the US inflation data turned out to be hotter than expected, raising bets of more aggressive action from the Federal Reserve. Moreover, it also added pressure on the European Central Bank (ECB) because there was a decline in the euro, as it reached parity with the US dollar. Stock … Read more

On Thursday, the US dollar trimmed its gains after two officials of the Federal Reserve indicated that they were in favor of an interest rate hike of 75 basis points at the July meeting of the US central bank. This reduced the odds of a more aggressive move that was being anticipated after the release … Read more

On Wednesday, the British Pound rose, mostly helped by a weaker US dollar, as data showed that there was unexpected growth in the UK economy in the month of May. Economic growth There was a 0.5% increase in economic output in May, even though there was a fall in consumer services because the rise in … Read more

On Tuesday, the euro bounced back after it had come down to a low of 20 years, very close to parity against the US dollar. This was because of investor concerns about an economic recession that could be triggered by an energy crisis in the region. Euro falls against the dollar The euro declined to … Read more

The financial and economic systems of Chile are under a great deal of pressure, as the Andean copper giant is dealing with runaway inflation and a tumbling currency. This has put a wrench in the plans of President Gabriel Boric to introduce a tax reform bill aimed at funding ambitious social programs. Chilean peso There … Read more

On Monday, Asian stocks were trading underwater for the most part, as investors were on guard over US inflation data due for release this week that could result in massive interest rate hikes. Plus, the earnings season is also scheduled to begin this week and it would put pressure on profits. Markets expecting a rate … Read more

On Friday, the British pound declined against the US dollar, as the macroeconomic backdrop was quite unfavorable and managed to overshadow the concerns about the political situation in the country, after the resignation of Prime Minister Boris Johnson. New premier coming soon Boris Johnson’s spokesperson stated on Friday that instead of changing decisions that had … Read more

On Thursday, Sterling was holding onto its gains, after British Prime Minister Boris Johnson announced that he was quitting, after a series of resignations from ministers and increasing calls for him to step down. Sterling rises The British currency had begun to rise against the euro and the US dollar earlier in the day, after … Read more

On Wednesday, the dollar climbed to fresh highs not seen in two decades, while the euro tumbled to a low not seen in two decades. This was because the progress of the euro zone’s economy was cast into doubt due to potential shortages of energy and their prices. The dollar strengthening The US dollar index, … Read more

On Tuesday, the S&P 500 closed the day slightly higher, as investors were focused on the US economy’s growth trajectory, while the Dow slipped and the tech-heavy Nasdaq also recorded gains. US stocks This year has seen US equities remain under constant pressure, as the benchmark S&P 500 index saw its biggest decline in the … Read more