The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against a basket of currencies, initially rose after a higher-than-expected January Consumer Price Index (CPI) data but then reversed course. Inflation beat estimates, causing investors to reassess the Federal Reserve's (Fed) policy path. While Fed Chair Jerome Powell remained non-committal on future interest rate cuts, Treasury yields moved higher, supporting the DXY early in the American session, but later fell below 107.90. The US Dollar Index attempted to move higher but faced resistance at 108.50, struggling to...
Oil prices plunged more than 2% on Wednesday after U.S. President Donald Trump took the first major step toward diplomacy over the war in Ukraine that he has vowed to end, a war that has supported oil prices amid concerns about global supply. Brent crude futures fell $1.82, or 2.36%, to $75.18 a barrel. U.S. West Texas Intermediate (WTI) crude futures fell $1.95, or 2.66%, to $71.37. U.S. crude futures fell more than $2 at their session lows. The declines followed three days of gains, with Brent up 3.6% and WTI up 3.7%. U.S. President Donald Trump discussed the war in Ukraine in a phone...
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $71.10 during the early Asian session on Thursday. The WTI price falls as US President Donald Trump called Russian President Vladimir Putin and Ukrainian President Volodymyr Zelenskiy to discuss ending the war in Ukraine. Trump discussed the war in Ukraine in phone calls with Putin and Zelenskiy. Trump claimed he and Putin had agreed to have their respective teams start negotiations immediately, and they will begin by calling Zelenskiy to inform him of the conversation. "Trump doing peace talks, I think that has...