Financial News

The price of oil was volatile after the release of the EIA report, but there were no major moves.

Williams said that the labor market is still very strong and that the central bank still has more work to do on interest rates.

Stats from Italy came in ahead of forecasts, with retail sales seeing a modest decline relative to neighboring member states.

Powell was less hawkish than expected, which was bearish for the U.S. dollar and bullish for riskier assets.

German industrial production fell by more than expected today, aligned with recent manufacturing PMI surveys. However, factory orders gave hope.

USD/CAD traders stay focused on the general strength of the U.S. dollar.

In a memo to employees, Jeff Clarke, co-chief operating officer said Dell has navigated economic downturns before, and “emerged stronger” as a result.

African economies’ recoveries are under continued pressure amid a range of external and internal shocks, underlying the need for renewed policy adjustments and better crafted international assistance.

Eurozone retail sales figures came in weaker-than-expected in December. However, the numbers are unlikely to deter the ECB from its policy goals.

US mortgage rates continued to declined, with the outlook looking rosier for the US housing sector looking rosier as affordability conditions improve.

The strong economic data shows that Fed has plenty of room for maneuver.

Non-Farm Payrolls increased by 517,000 for January, well above the Reuters estimate of 185,000. Unemployment drops to 3.4%.

It was a busy start to the European session, with Eurozone private sector PMIs beating forecasts. Later today, the US Jobs Report will garner greater interest.

The slowing demand for COVID-19 antibodies and diabetes drugs hurt the company’s topline.

ECB pledges to “stay the course in raising interest rates significantly at a steady pace.”

The Monetary Policy Committee (MPC) voted 7-2 in favor of a second consecutive half-point rate hike, taking the main Bank rate to 4%.

After a tumultuous 2022 in the digital asset space, investment opportunities have presented themselves in 2023, with Web3 a target for investment funds.

Italy began 2023 in a better-than-expected economic and fiscal position but its high public debt, slowing growth and higher interest rates weaken debt sustainability.

The Fed signaled that it would continue to raise rates to fight inflation. Trading action is choppy, and market participants are waiting for Jerome Powell’s press conference.

ISM Manufacturing PMI declined to the lowest level since May 2020.