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US Consumer Confidence Drops to Historic Low in May
SadaNews - A survey published yesterday evening showed that American consumer confidence dropped to a historic low in May, amid rising concerns about increasing gasoline prices due to the war with Iran, alongside a deterioration in households' purchasing power.
According to the University of...
"Moody's" Confirms Saudi Arabia's Credit Rating at "Aa3" with Stable Outlook
SadaNews - Moody's credit rating agency has confirmed its credit rating for Saudi Arabia at "Aa3" with a stable outlook.
The agency stated that the Kingdom's credit rating reflects the strength of its robust economy supported by its vast oil wealth, along with the Kingdom's...
Warsh Takes the Oath as Chair of the U.S. Federal Reserve Amid Trump Pressures and Inflati...
SadaNews - Kevin Warsh, who pledged to implement the most significant change within the U.S. Federal Reserve in decades, took the oath of office today, Friday, during a ceremony at the White House as the seventeenth chair of the Federal Reserve Board.
Warsh's assumption of the position comes at a t...
Rising Oil Prices and Declining Gold Prices Globally
SadaNews Economy - On Friday, oil prices rose, with Brent crude futures increasing by $2.38, or 2.3%, to reach $104.96 per barrel, while West Texas Intermediate crude futures rose by $1.73, or 1.8%, to reach $98.08.
Both benchmarks dropped by about 2% on Thursday to their lowest levels at settlemen...
As Long as the Ceasefire with Iran Continues: The Market Expects a Rate Cut in Israel Next...
SadaNews - Israeli capital markets currently anticipate a 60% chance of a rate cut in the upcoming decision by the Bank of Israel, scheduled for next Monday. Economists also agree that the Bank of Israel will lower interest rates as long as the ceasefire with Iran continues during the holiday and un...
Goldman Sachs Breaks Away from the Pack Anticipating Interest Rate Hike in Egypt
SadaNews - Goldman Sachs expects that the Central Bank of Egypt will raise the main interest rate by a full percentage point on Thursday, according to data collected by Bloomberg.
The data showed that the bank anticipates an increase in the overnight deposit rate from 19% to 20%, in contrast to seve...
Austria urges the European Union to expedite trade negotiations with the UAE
SadaNews - The Austrian Minister of Economy urged the European Union to accelerate free trade talks with the UAE after state-owned chemical companies in both countries recently completed a merger deal worth over $60 billion.
Speaking at a business gathering on the outskirts of Vienna on Wednesday,...
Slight Rise in Oil Prices Despite Hopes for an Agreement Between Washington and Tehran
SadaNews - Oil prices have risen slightly after a sharp decline on Wednesday, as President Donald Trump stated that the United States is in the "final stages" of negotiations with Iran.
Brent crude traded above $105 per barrel after plummeting 5.6% on Wednesday, while West Texas Intermediate crude...
Gold Records Slight Increase as US Rate Hike Bets Ease
SadaNews - There has been little change in gold prices, as optimism regarding efforts to end the Middle East conflict and bets on interest rate hikes dims.
The precious metal traded near $4,529 an ounce in early trading, following a 1.4% rise in the previous session.
President Donald Trump stated...
Rising Bond Yields Compound Challenges for Warsh Ahead of Fed Leadership
SadaNews - Kevin Warsh is preparing to take over the leadership of the Federal Reserve later this week, facing pressure from the White House to cut interest rates amid increasing resolve from his colleagues to maintain the status quo. The bond market is now exacerbating this pressure.
On Tuesday, t...
Oil Declines as Markets Assess Trump's Threats to Iran
SadaNews - Oil declined alongside broader markets as traders assessed President Donald Trump's latest threat to resume strikes on Iran.
Brent crude prices fell below $110 a barrel after a 0.7% drop on Tuesday, while West Texas Intermediate crude approached $104, as Asian stocks declined for the fou...
Gold Falls as Global Rate Hike Bets Rise
SadaNews - Gold maintained its decline, continuing to lack progress in reopening the Strait of Hormuz, fueling inflation fears and increasing bets that global central banks might raise interest rates.
The precious metal was trading around $4,472 per ounce, after falling nearly 2% on Tuesday. Price p...