The euro regained momentum against the US dollar on Thursday as it strengthened above parity, reaching an intraday high of $1.000345. From today, Fed officials and banking figures from around the world will meet for the annual Jackson Hole symposium until August 27. The dollar’s retreat from a nearly two-decade high comes just as investors …
https://youtu.be/5hiQyK_4eGc WASHINGTON, Aug 24 (Reuters) – President Joe Biden said on Wednesday the U.S. government will forgive $10,000 in student loans for millions of debt-saddled former college students, keeping a pledge he made in the 2020 campaign for the White House. The move could boost support for his fellow Democrats in the November congressional elections, …
Continue reading “Biden forgives millions of student loans; critics fear inflation”
Reuters) – Oil prices ended Wednesday higher after a volatile trading session on concerns that the United States will not consider additional concessions to Iran in its response to a draft agreement that would restore Tehran’s nuclear deal – and potentially the OPEC member’s crude exports. Iran said it had received a response from the …
Continue reading “Oil up after US reportedly rejects Iran’s demands”
The U.S. dollar trimmed recent losses against a basket of currencies on Wednesday, after Minneapolis Federal Reserve Head Neel Kashkari said the central bank would keep tightening policy until it saw clear signs of easing inflation. Kashkari, who has become one of the Fed’s most hawkish members in recent months, said the bank’s biggest priority …
Continue reading “Fed can relax on rate hikes when CPI nears 2% – Kashkari”
The price of retail gasoline just dipped below $4 per gallon, AAA data showed on Thursday, but prices could rise to $5 per gallon by the end of the year, Goldman Sach’s Head of Energy Research Damien Courvalin said. “We think that’s the level at which we need to see sustained pricing to eventually solve …
Continue reading “Goldman Sees $5 Gasoline, $130 Brent By Year End”
The United States’ Strategic Petroleum Reserve (SPR) now has only 453.1 million barrels in its inventory, following another significant drop in the past week that puts the emergency reserve at a low not seen in three and a half decades, Reuters reports, citing the Department of Energy. In the week ending August 19th, the SPR …
New home sales in the United States decreased by 12.6% in July compared to the previous month. The sales dropped by 29.6% compared to July 2021, according to the report published by the United States Census Bureau on Tuesday. On a month-to-month basis, the biggest decrease was in the Midwest with a drop of 20.6%, …
President Joe Biden’s administration is reportedly rewriting its National Security Strategy, which the White House is required to send to Congress annually, to account for the lessons of the war in Ukraine. One issue that this document will have to grapple with outside its traditional focus on statecraft and diplomacy: food. The conflict in Ukraine has …
United States Flash PMI Composite Output Index in August stood at 45.0, staying in the contraction territory, S&P Global revealed in its report released on Tuesday. The figure was the lowest in the past 27 months. In addition, Flash US Services Business Activity Index was also at a 27-month low in August, with the …
Continue reading “US composite PMI at 27-month low in August”