Introductory Remarks: The euro managed to stay above a recent two-month low on Thursday, bolstered by European Central Bank (ECB) President Christine Lagarde’s emphasis on the need to further tighten monetary policy to combat persistent high inflation. Despite a marginal decline in Eurozone inflation to 6.1% in May, it still remains significantly higher than the…
The dollar gained strength on Wednesday as investors sought its safe-haven status amidst concerns over a potential U.S. debt default. Additionally, traders adjusted their expectations of an imminent interest rate cut by the Federal Reserve following encouraging U.S. consumer spending data. Negotiations between U.S. President Joe Biden and Republican congressman Kevin McCarthy inched closer to…
In the midst of ongoing supply disruptions and considerations of inflation trends, oil prices have experienced their fourth increase in five sessions. West Texas Intermediate (WTI), a leading benchmark for U.S. oil prices, surpassed $73 per barrel, rebounding after a 1.6% decline on Wednesday following three consecutive gains. The fluctuating oil prices are influenced by…