The White House is weighing measures to increase U.S. oil output as supply disruptions tied to the Iran war continue to tighten the market. “We’ve been in constant communication with the oil companies, and have been considering measures that we could take here in the U.S. to increase U.S. production
The EUR/GBP falls some 0.16% during the day as the central bank bonanza ends with the ECB and the BoE keeping interest rates unchanged as expected. The cross-pair trades at around 0.8644 after reaching a daily high of 0.8667.
Silver (XAG/USD) moves higher on Thursday, trading around $73.40 at the time of writing, up 2.81% on the day, after undergoing a marked pullback in recent weeks. This technical rebound comes as the white metal attempts to stabilize following the rejection near the $80 threshold in mid-April.
Sources speaking with Reuters revealed that the European Central Bank (ECB) policymakers are likely to hike rates “at least” twice this year, beginning in June if there’s no resolution to the Iran conflict.
ABN AMRO’s US Senior Economist Rogier Quaedvlieg reviews the latest Federal Open Market Committee (FOMC) decision, noting that the Federal Reserve (Fed) kept rates unchanged and maintained an easing bias in its statement.
As widely telegraphed, the European Central Bank (ECB) kept its policy rates unchanged, but the tone of the meeting reflected a far more complicated backdrop.
Rabobank's Senior Macro Strategist Stefan Koopman reviews the latest Bank of England (BoE) decision to hold the Bank Rate at 3.75%, noting Governor Bailey’s description of an 'active hold' as he balances inflation persistence against risks to employment and activity.