Crude Oil Price Holds Steady As OPEC Downgrades Demand Estimates
US equities remained relatively calm on Thursday as investors continued to reflect on rising inflation and supply challenges. The Dow Jones declined by about 70 points while the S&P 500 and Nasdaq 100 indices rose marginally. Data published on Wednesday...
Dollar Extending Broad Based Rally in Quiet Trading
Dollar’s broad based rally continues in Asian session today and looks set to have a strong close for the week. Talking about weekly performance, Yen is following the greenback as the next strongest. New Zealand Dollar and Australian Dollar are...
Inflation pushes income tax brackets higher for 2022
The IRS announced higher federal income tax brackets and standard deductions for 2022 amid rising inflation. The consumer price index surged by 6.2% in October compared to the previous year, the biggest jump in more than three decades. As price...
Borrowers rush to refinance, as mortgage rates drop for a second week
A property for sale in Monterey Park, California Frederic J. Brown | AFP | Getty Images Mortgage rates fell for the second straight week last week, and that helped boost refinance demand for the first time in a while. As...
Experts say the 4% rule, a popular retirement income strategy, is outdated
MoMo Productions | Stone | Getty Images Market conditions are pressuring the 4% rule, a popular rule of thumb for retirees to determine how much money they can live on each year without fear of running out later. Withdrawing money...
Global Inflation Watch – Highest US Wage Growth in More than 10 Years
Overview: Labour shortages persist pushing US wage inflation to the highest level in 10 years. Commodity prices eased over the past month, though, as gas, oil and coal prices are off the peaks. Bottlenecks continue to drive unusually long delivery...
US Dollar Index: The Dollar Hits New Multi-Month High in Extension of Post-US CPI Rally
The dollar remains firm against the basket of major world currencies and extends advance to a new 16-month high on Thursday, following a strong rally on Wednesday, sparked by higher than expected rise in consumer prices. The dollar index surged...
Biden offers sympathy and potential supply chain fixes as he has few real options to halt inflation
U.S. President Joe Biden speaks on the bipartisan infrastructure deal at the Port of Baltimore in Baltimore, Maryland, on Wednesday, Nov. 10, 2021. Samuel Corum | Bloomberg | Getty Images As government economists work to find ways to combat soaring...
Canadian Dollar Accelerates Down on Weakening Oil, Dollar Staying Strong
Selloff in Canadian Dollar gathers pace today as WTI oil price is quickly heading back towards 80 handle. Other commodity currencies are also weak, with Aussie weighed down by poor job data. On the other hand, Dollar is staying firm...
Rate Hike Speculations Heighten as Eurozone’s Inflation Accelerates Further
The latest ECB bulletin, European Commission’s latest inflation projections and the preliminary inflation data for October rekindled ECB’s rate hike speculations. At the ECB bulletin, policymakers acknowledged that strong inflation proves more persistent than previously anticipated. Yet, they expected that...
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